Mako sees slow sales of surgical robot, shares slump
(Reuters) - Mako Surgical Corp (MAKO.O) reported lower-than-expected sales of its surgical robot for the second quarter in a row and cut its sales forecast for the full year, sending its shares down as much as 34 percent after the bell.
The company said it sold nine robot surgery systems, below analyst expectations of 11 systems.
The device-maker now expects to sell 42 to 48 RIO systems in 2012, down from an earlier forecast of 52 to 58 RIO systems.
The Fort Lauderdale, Florida-based company, which makes robotic devices that help surgeons conduct less invasive operations, had made a similar cut in its forecast in May.
Mako shares, which have lost about 43 percent of their value in the last three months, were down 34 percent at $16.20 after the bell. They had closed at $24.61 on Monday on the Nasdaq. (Reporting by Vidya P L Nathan in Bangalore; Editing by Don Sebastian)
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