April 22 Intuitive Surgical Inc on Tuesday lowered its forecast for procedure growth for its da Vinci surgical robots, citing a slowdown in U.S. gynecology procedures.
The medical device maker said it now expects da Vinci procedure growth in a range of 2 percent to 8 percent, down from the prior forecast of 9 percent to 12 percent.
The lower, wider range reflects uncertainty about the impact on procedure volumes as hospitals adjust to the implications of the Affordable Care Act, company officials said on a conference call after the release of first-quarter earnings.
Intuitive said revenue in the first quarter fell about 24 percent from a year ago to $465 million, consistent with the estimate it provided earlier this month.
First-quarter net income, including a $67 million charge for settling legal claims related to its surgical robotic system, was $44 million, or $1.13 a share, compared with $189 million, or $4.56 a share, in the same period a year ago.
The company also cited customers' anticipation of a new version of the robot system for lower U.S. shipments.
Intuitive saw double-digit revenue growth and steadily rising da Vinci sales in past years, but sales fell for the first time in 2013 as cost and safety concerns hurt demand.
Intuitive launched an upgraded version of its surgical system on April 1, which some analysts believe will revive sales. (Reporting by Susan Kelly in Chicago; Editing by Lisa Shumaker)
BA cancels flights from London's Heathrow, Gatwick after IT outage
LONDON, May 27 British Airways said it had cancelled all flights from London's Heathrow and Gatwick airports scheduled before 1700 GMT on Saturday due to a global computer outage.
British Airways suffers flight delays after global IT outage
LONDON, May 27 British Airways flights in Britain were being delayed and passengers were suffering long waits at airports on Saturday because of a global system outage, the airline said.