Two sales in US of the SpineAssist robotic spinal surgical system boosted the revenue of Mazor Surgical Technologies Ltd. (TASE:MZOR) for the second quarter. Revenue rose to NIS 4.2 million for the second quarter from NIS 1.6 million for the corresponding quarter of 2009 and NIS 590,000 for the first quarter.
First half revenue nearly doubled to NIS 4.8 million from NIS 2.5 million for the corresponding half. SpineAssist sales more than doubled to NIS 3.4 million in the first half from the corresponding half, while sales of disposable peripherals fell 40% to NIS 1.3 million in the first half, and sales of other products fell 43% to NIS 73,000.
Mazor's first quarter results were poor, because SpineAssist sales were delayed, but it sold two SpineAssist systems in the US in the second quarter, one to Texas Texas Presbyterian Hospital in the Dallas suburb of Plano, and the other to Bethseda North Hospital in Cincinnati, Ohio.
Mazor narrowed its net loss to NIS 3.7 million (NIS 0.19 per share) for the second quarter from NIS 4.5 million for the corresponding quarter. Operating loss was unchanged at NIS 4 million.
Mazor's share price rose 1.7% by mid-afternoon on the TASE to NIS 10.61
Published by Globes [online], Israel business news - www.globes-online.com - on August 2, 2010
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