Mazor Robotics Warns On Q4 Revenues - Quick Facts

(RTTNews) - Mazor Robotics Ltd. (MZOR), a developer of innovative guidance systems and complementary products, announced Monday that it expects to report revenue of approximately $5.7 million for the fourth quarter.

On average, seven analysts polled by Thomson Reuters expect fourth-quarter revenues of $6.73 million. Analysts' estimates typically exclude special items.

In the quarter, the company received orders for and delivered six Renaissance systems, two in the U.S. and four internationally.

Ori Hadomi, Mazor's Chief Executive Officer, said, "While we were in active negotiations to complete the sale of one or more Renaissance systems with several U.S. hospitals, the completion of these agreements did not occur by the end of the year and, as a result, our fourth quarter revenue will be impacted. Our organization is continuing to pursue these agreements as we enter 2015."

For the full year, Mazor expects to report revenue of approximately $21 million, compared to revenue of $20 million in 2013.

The Company ended 2014 with 83 Renaissance systems globally, with 46 in the U.S., the Company's primary growth market, compared with 63 and 34 systems in 2013, respectively.

Hadomi added, "We are still at the very early stage of developing the robotic spine surgery market and continue to experience a high level of interest and sales activity in the Renaissance system in our key markets. We remain confident that with strong data supporting the clinical and economic benefits of the Renaissance system and continued sales and marketing efforts we will expand our presence in these markets over the longer term."

The Company intends to maintain its policy of not providing an outlook on its future financial results and is not obligated to comment on expected results in the future. The Company currently intends to report its complete financial results for the fourth quarter and full year on February 18.

In pre-market activity, Mazor shares were trading 1.56 percent lower at $11.93.