Preliminary first quarter 2014 revenue for Sunnyvale, Calif.-based Surgical Intuitive's da Vinci Surgical Systems is expected to be 59 percent lower than first quarter 2013 revenue, falling from $256 million to $106 million, according to a company news release.
The company attributes the falling revenue to fewer sales of the surgical system in the U.S., as well as a revenue deferral from allowing customers to trade in older models of da Vinci Si Surgical Systems for the newly approved da Vinci Xi. This referral program reduced first quarter revenue by approximately $26 million, according to the news release.
During the first quarter of 2014, Surgical Intuitive shipped 87 surgical systems, compared to 164 during the first quarter of 2013. Contributing factors to the decline in system sales include fewer procedures, a shift in spending priorities due to the Affordable Care Act and expecting a newer version of the surgical system, according to the news release.
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