Sterne Agee Starts Intuitive Surgical (ISRG) at Underperform

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Go back to Sterne Agee Starts Intuitive Surgical (ISRG) at Underperform

Intuitive Surgical, Inc. (ISRG) Prelim. Q1 Revenue Misses Expectations

April 8, 2014 4:47 PM EDT

Intuitive Surgical, Inc. (NASDAQ: ISRG) issued the following announcement in advance of the April 22, 2014 release of its first quarter 2014 financial results.

The Company anticipates revenue for the first quarter of 2014 to be approximately $465 million, down 24% compared with $611 million for the first quarter of 2013. Revenue reflects a $26 million deferral associated with a customer trade-out program for the newly launched da Vinci XiTM Surgical System. Excluding the impact of the trade-out program, revenue would have been $491 million, a decrease of 20% compared with the prior year.

The Company also announced a pre-tax charge... More