MAKO Surgical Q3 Revenues Drop, Net Loss Deepens
MAKO Surgical shares are lower in post-market trading following the release of its Q3 results. For the quarter, total revenue was $22.8 million, or 22% below the $29.2 million in the same period of 2012. Net loss deepened considerably, to $21.3 million ($0.45 per diluted share) against the year-ago Q3's $6.6 million ($0.15).
The most recent quarter's numbers were well short of the average analyst estimates of $33.2 million for the top line and a per-share loss of $0.12.
The company has withdrawn its previously issued guidance for fiscal 2013, citing its upcoming merger with Stryker as its reason for doing so. The merger, announced in September, is expected to close by the end of this year.
Today, MAKO Surgical's stock declined by 0.5%, or $0.14, to $29.71 in after-hours trading.
The article MAKO Surgical Q3 Revenues Drop, Net Loss Deepens originally appeared on Fool.com.Fool contributor Eric Volkman has no position in any stocks mentioned. Nor does The Motley Fool. Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.
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