Renaissance Spine Sales Boost Mazor Robotics' Gross Profits 130%

Mazor Robotics reported its gross profits more than doubled in the second quarter, as the company brought in $5 million this year compared to $2.2 million during the same period in 2012. The company reported $9 million in gross profits for the first half of the year, up 122 percent from last year. Mazor's net loss this quarter increased from $1.1 million last year to $4.4 million, due to an increase in financing income.

The increased profits are due to an increase in Renaissance robotic spine system globally. Currently, 54 systems are installed, and the company received its first follow-up order from a U.S. hospital corporation during the second quarter.

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