By Dow Jones Business News,
January 23, 2014, 04:45:00 PM EDT
By Tess Stynes
Intuitive Surgical Inc. ( ISRG ) said its fourth-quarter earnings fell 5% on lower sales of the company's da Vinci
robotic surgical systems.
The company has continued to face challenges from customer concerns about the safety and cost effectiveness of its da
Vinci robots, in addition to moderating growth in gynecology procedures and lower hospital spending related to the U.S.
health-care policy overhaul.
In the latest quarter, da Vinci systems sales revenue fell 23% to $204.6 million as the number of systems sold dropped
to 138 from 175 a year earlier.
President and Chief Executive Gary Guthart said "for 2014, we are focused on expanding use of da Vinci in general
surgery, particularly colorectal surgery and single-incision surgery, supporting worldwide gynecology and urology
growth, broadening our stapling and Single-Site launches, and continuing to strengthen our capabilities in international
markets, particularly Europe and Japan."
Intuitive Surgical reported a profit of $166.2 million, or $4.28 a share, compared with $174.9 million, or $4.25 a
share, a year earlier. Analysts polled by Thomson Reuters expected per-share profit of $3.83.
Revenue decreased 5.4% to $576.2 million, matching the company's recent estimates.
Sales of instruments and accessories increased 5.7% to $268.2 million, mostly owing to the 12% growth in procedures on
machines that da Vinci already has sold.
Write to Tess Stynes at email@example.com
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