Mazor Robotics' gross profit for the first quarter more than doubled from $1.9 million in 2012 to $4 million in the three month period ending March 31. The increase is due to double the demand for Mazor's Renaissance spine system — six units sold in the first quarter of 2013 compared to three units in 2012. In the year to date, Mazor also received its first Renaissance orders from Taiwan and Australia and had its device purchased by the Russian-based Neuroproject for use in the N.N. Blokhin Cancer Research Center in Moscow.
Mazor's operating loss dropped from $1.1 million in 2012 to $656,000 in 2013.
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Mazor's operating loss dropped from $1.1 million in 2012 to $656,000 in 2013.
More Articles on Devices:
U.S. Spine Market Worth $5.5B, $1.5B From Minimally Invasive Devices
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7 Recent Orthopedic Device Company Expansions & Agreements