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MAKO Surgical Corp. (NASDAQ:MAKO) had a loss and missed Wall Street’s expectations, AND came up short on beating the revenue expectation. The revenue miss is a negative sign to shareholders seeking high growth out of the company. Shares are up 4.55%.
MAKO Surgical Corp. Earnings Cheat Sheet
Results: Adjusted Earnings Per Share increased to $-0.13 in the quarter versus EPS of $-0.14 in the year-earlier quarter.
Revenue: Decreased 7.94% to $30.28 million from the year-earlier quarter.
Actual vs. Wall St. Expectations: MAKO Surgical Corp. reported adjusted EPS loss of $0.13 per share. By that measure, the company missed the mean analyst estimate of $-0.11. It missed the average revenue estimate of $30.8 million.
Quoting Management: “We continued to make progress in the fourth quarter towards reestablishing our growth trajectory in RIO system placements and putting the building blocks in place to drive MAKOplasty procedure volume and utilization,” said Maurice R. Ferre, M.D., President and Chief Executive Officer of MAKO. “While 2012 was a challenging year for MAKO, we believe that the sales process changes we initiated in the second half of the year will position MAKO well for improved performance in 2013 and ultimately assist us in achieving long term success.”
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