The company also reported a $1.2 million loss for the period. Cash and cash equivalents were reported as $2.7 million, a significant decrease from the same period last year when the company reported $9.2 million in cash and cash equivalents.
In the first quarter, the company sold three Renaissance Systems for minimally invasive and complex spinal surgery. Operating expenses increased during the first quarter of 2012 due to higher sales and marketing costs. The company continues to penetrate new markets in Asia and Europe in addition to expanding its U.S. sales force.
More Articles on Spine Devices:
Orthopaedic Implant Company Launches Pedicle Screw System
14 Spine Devices Receive FDA 510(k) Clearance in April
TranS1 Q1 Revenue Plummets
Mazor Revenue Up in Q1 After 3 Robotic Spine System Sales FeaturedWritten by Laura Miller | May 16, 2012
Mazor Robotics, an Israel-based robotic spinal system company and developer of the Renaissance system, reported $2.4 million in revenue for the first quarter of 2012, an increase over the same period last year.
© Copyright ASC COMMUNICATIONS 2011. Interested in LINKING to or REPRINTING this content? View our policies here.