MAKO Surgical Down 36% on Weak Q1 Earnings
MAKO Surgical (NASDAQ: MAKO) is trading lowe on the session following its Q1 earnings announcement yesterday. the company reported an EPS of $(0.28) vs $(0.20) estimates and revenues of $19.6 million vs $23.75 million estimates.
Maurice R. Ferré, M.D., President and Chief Executive Officer of MAKO said: "While the first quarter is typically our slowest quarter of the year and system placements are very difficult to predict on a quarterly basis, our results this quarter were at the low end of our expectations. On the positive side, we were encouraged by the continued interest shown in our hip application and the quality and quantity of clinical data that continues to be generated that supports the clinical and economic benefit of MAKOplasty. Additionally, we are pleased to have enhanced our working capital flexibility through a credit facility arrangement with Deerfield, an acknowledged leader in health care investing."
MAKO Surgical is currently trading at $26.47, a loss of $14.93 or 36.06%.
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