Intuitive Surgical, Inc. Announces Preliminary Unaudited Financial Results for the Fourth Quarter and Full Year Ended December 31, 2013
January 14, 2014 at 08:30 am
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Intuitive Surgical, Inc. announced preliminary unaudited financial results for the fourth quarter and full year ended December 31, 2013. The company expects revenue for the fourth quarter of 2013 of approximately $576 million, down approximately 5% from $609 million for the fourth quarter of 2012. Preliminary fourth quarter 2013 instruments and accessories revenue is expected to increase approximately 6% to approximately $268 million from $254 million during the fourth quarter of 2012. Preliminary fourth quarter 2013 da Vinci Surgical Systems revenue is expected to decrease approximately 23% to approximately $205 million from $265 million during the fourth quarter of 2012. Preliminary fourth quarter 2013 service revenue is expected to increase approximately 14% to approximately $103 million from $91 million during the fourth quarter of 2012.
The company expects revenue for the year ended December 31, 2013 to total approximately $2,265 million, up approximately 4% compared to full year 2012 revenue of $2,179 million. Full year 2013 instruments and accessories revenue is expected to increase approximately 14% to approximately $1,033 million. Full year 2013 systems revenue is expected to decrease approximately 11% to approximately $835 million. Intuitive sold 138 da Vinci Surgical Systems during the fourth quarter of 2013, compared with 175 systems during the fourth quarter of 2012. Preliminary full year 2013 service revenue is expected to increase approximately 16% to approximately $397 million from $343 million during 2012.
Intuitive Surgical, Inc. specializes in the design, manufacturing, and marketing of robotic surgical assistance video systems. The systems consist of a surgical console, arm, remote-controlled endoscope, and 3D visual immersion system. Net sales break down by activity as follows:
- sale of instruments and accessories (60%): primarily wrist cuffs;
- sale of robotic systems (23.6%): systems marketed under the da Vinci brand (1,370 units sold in 2023) and intended primarily for urological, cardio-thoracic, and gynecological surgeries;
- installation and training services (16.4%).
The United States accounts for 65.8% of net sales.