Mazor Robotics Sets Quarterly Records for Renaissance System Orders and Revenue
January 05 2016 - 4:30AM
Business Wire
- Anticipates Record Revenue of Approximately
$8.8 Million for the Quarter -
Mazor Robotics Ltd. (TASE:MZOR; NASDAQGM:MZOR), a developer of
innovative guidance systems and complementary products, announced
today that it received orders for a record 12 Renaissance systems
in the fourth quarter ended December 31, 2015. In the US, the
Company installed eight systems and internationally, it received
purchase orders from its distribution partners for four systems,
primarily in Asia. For the 2015 full year the Company received 25
orders, plus one upgrade, for its Renaissance system. This
represents a 25% year over year increase compared to 20 systems in
2014.
Based on currently available operating and financial
information, the Company expects to report record revenue of
approximately $8.8 million for the fourth quarter ended December
31, 2015. For the full year, Mazor expects to report revenue of
approximately $26 million compared to revenue of $21.2 million in
2014. The anticipated results in this press release are based on
management's preliminary unaudited analysis of financial results
for the period.
“The record number of orders we received for the Renaissance
system during the fourth quarter of 2015 supports the optimism we
have for our potential in the market,” commented Ori Hadomi, Chief
Executive Officer. “During the quarter, we expanded our US presence
into new metropolitan areas, such as Philadelphia, and
internationally we expanded our presence in Asia and Europe. In the
US, we also penetrated leading academic institutions in Chicago and
Miami where the Renaissance will be used in the training of the
next generation of neurosurgeons and orthopedic surgeons. As we
enter 2016, I believe that the continued execution of our growth
strategies, the larger sales footprint, the record utilization,
together with the strong data supporting the clinical value of the
Renaissance and the commercial launch of our PRO-solutions product
lines, will increase the market’s awareness for the Renaissance
system. This positions Mazor to accelerate the adoption of the
Renaissance as the standard of care and for 2016 to be a growth
year for our company.”
Mazor Robotics ended the fourth quarter with 108 Renaissance
systems globally, including 64 in the US, the Company’s primary
growth market. This compares with 83 global and 46 US systems for
the fourth quarter ended December 31, 2014. The Company currently
intends to report its complete financial results for the fourth
quarter and full year ended December 31, 2015 in late February.
About Mazor
Mazor Robotics (TASE:MZOR; NASDAQGM:MZOR) believes in healing
through innovation by developing and introducing revolutionary
robotic-based technology and products aimed at redefining the gold
standard of quality care. Mazor Robotics Renaissance® Guidance
System enables surgeons to conduct spine and brain procedures in a
more accurate and secure manner. For more information, please visit
www.MazorRobotics.com.
Forward-Looking Statements
This press release contains forward-looking statements within
the meaning of the Private Securities Litigation Reform Act of 1995
and other securities laws. Any statements in this release about
future expectations, plans or prospects for the Company, including
without limitation, statements regarding the Company’s anticipated
revenues for the fourth quarter and full year of 2015, the
Company’s expectations for 2016, and other statements containing
the words “believes,” “anticipates,” “plans,” “expects,” “will” and
similar expressions are forward-looking statements. These
statements are only predictions based on Mazor's current
expectations and projections about future events. There are
important factors that could cause Mazor's actual results, level of
activity, performance or achievements to differ materially from the
results, level of activity, performance or achievements expressed
or implied by the forward-looking statements. Those factors
include, but are not limited to, the impact of general economic
conditions, competitive products, product demand and market
acceptance risks, reliance on key strategic alliances, fluctuations
in operating results, and other factors indicated in Mazor's
filings with the Securities and Exchange Commission (SEC) including
those discussed under the heading "Risk Factors" in Mazor’s annual
report on Form 20-F filed with the SEC on April 29, 2015 and in
subsequent filings with the SEC. For more details, refer to Mazor's
SEC filings. Mazor undertakes no obligation to update
forward-looking statements to reflect subsequent occurring events
or circumstances, or to changes in our expectations, except as may
be required by law.
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version on businesswire.com: http://www.businesswire.com/news/home/20160105005314/en/
U.S. Contacts: EVC GroupMichael Polyviou, 212-850-6020
(Investors)mpolyviou@evcgroup.comDoug Sherk, 415-652-9100
(Investors)dsherk@evcgroup.comDavid Schemelia, 646-201-5431
(Media)dave@evcgroup.com
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