Reuters: Global Markets: Intuitive Surgical sees second-quarter revenue below views, shares dive 12 percent

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Intuitive Surgical sees second-quarter revenue below views, shares dive 12 percent Jul 8th 2013, 22:01 By Susan Kelly Mon Jul 8, 2013 6:01pm EDT (Reuters) - Intuitive Surgical Inc (ISRG.O), maker of the da Vinci surgical robot, said on Monday it expects second-quarter revenue below analysts' expectations, and its shares fell 12 percent in after-hours trading. The company said it expects revenue for the quarter of about $575 million, up 7 percent from a year ago but well below the average analyst forecast of $629.6 million reported by Thomson Reuters I/B/E/S. Intuitive said second-quarter revenue from its da Vinci surgical systems was expected to slide 6 percent from a year earlier to about $215 million. The company expects second-quarter net income of about $160 million, up from $155 million in the same quarter a year ago. Procedures using the da Vinci system rose about 18 percent during the quarter as general surgeries helped offset a decline in benign gynecologic procedures, the company said. It attributed the slowdown in gynecologic procedures to a decline in hospital admissions as insurers encourage more conservative treatments in outpatient settings. "While we are disappointed in our performance this quarter, particularly with respect to our capital sales in the U.S., overall procedure performance was solid in a difficult environment," Intuitive Chief Executive Gary Guthart said in a statement. Second-quarter revenue from sales of instruments and accessories is expected to rise about 18 percent to $265 million, the Sunnyvale, California-based company said. (Reporting by Susan Kelly in Chicago; Editing by Carol Bishopric and David Gregorio) Link this Share this Digg this Email Reprints

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