Intuitive Surgical -8.1% AH on Q1 warning

|About: Intuitive Surgical, Inc. (ISRG)|By:, SA News Editor

Intuitive Surgical (ISRG) expects Q1 revenue of $465M, -24% Y/Y and well below a $537.9M consensus. The company partly blames "a $26 million deferral associated with a customer trade-out program for the newly launched da Vinci Xi Surgical System."

Intuitive is also taking a $67M pre-tax charge for "estimated costs of settling a number of product liability legal claims against the Company."

Q1 accessories revenue is expected to fall 2% Y/Y to $255M. Da Vinci systems revenue is expected to fall 59% to $106M. Service revenue is expected to rise 11% to $104M.

87 da Vinci systems were shipped in Q1 (45 in the U.S.), down from 164 a year ago (115 in the U.S.).

Full Q1 results are due on April 22.