Time to get back in on the ground floor......???????
Computer Motion Reports Record Quarterly Revenue
SANTA BARBARA, Calif., Jul 13, 2000 (BUSINESS WIRE) -- Computer Motion Inc. (Nasdaq: RBOT chart, msgs), the leader in medical robotics, today announced record preliminary, unaudited revenue in excess of $5.8 million for the second quarter ended June 30, 2000, which topped the previous record of $5.3 million in revenue.
The company anticipates announcing complete financial results for the second quarter on July 27, 2000, and will have a conference call and Webcast at that time.
"The market for our intelligent robots is rising," said Robert W. Duggan, chairman and CEO of Computer Motion. "Our second-quarter record results in top line revenue reflects very early stage worldwide acceptance of the role intelligent, surgeon-interactive robotics is destined to play in health care for decades to come. Computer intelligence has brought new levels of productivity to nearly all walks of life, and Computer Motion is proud to blaze the pathway of technology application for new and better options for patient treatment."
Duggan continued: "Intelligent operating rooms containing robots with voice recognition, computerized instrumentation, force feedback and 3-D visualization are now becoming a reality. Recent announcements by the United States Food and Drug Administration clearly signal the beginning of this new era for medical robotics that will bode well for hospitals, surgeons, health-care payors and patients. Approximately 40 million surgeries are performed each year, and surgeons equipped with intelligent devices, such as the AESOP(R), HERMES(TM) and ZEUS(TM) systems, will now be capable of greatly enhancing human life with new minimally invasive surgeries. With record revenues for our second quarter, we are now setting our sights on continued growth and record revenues well into the future."
Computer Motion is a high-tech medical-device company equipping surgeons to enhance life by evolving surgical practices. The company develops, manufactures and markets proprietary computer-enhanced and robotic surgical systems that enhance surgeons' capabilities, improve outcomes and reduce costs. To date, the Computer Motion family of products has safely assisted more than 100,000 minimally invasive procedures across a broad range of surgical disciplines.
Computer Motion's products include the voice-controlled AESOP(R) endoscope positioning system; the HERMES(TM) Control Center, a centralized system that enables the surgeon to voice control a network of "smart" medical devices; and the ZEUS(TM) Robotic Surgical System for new minimally invasive microsurgery procedures, such as endoscopic, beating heart bypass surgery. The ZEUS System is CE-Marked for commercial sale in the European Community and is co-marketed by Computer Motion and Medtronic (NYSE: MDT chart, msgs). Computer Motion has completed an FDA-approved Phase 1 Investigational Device Exemption (IDE) coronary bypass study and has initiated an IDE mitral valve surgery study with the ZEUS System. The company's Web site is www.ComputerMotion.com.
This news release contains forward-looking statements concerning the company's business and products. Actual results may differ materially depending on a number of risk factors, including the risks of competition and competing technologies, duration or suspension of clinical studies, regulatory clearances and approvals, and physician, hospital and payor acceptance of the company's products. These factors and other risks inherent in the company's business are described from time to time in the company's Securities and Exchange Commission filings, including its annual report on Form 10-K. The company undertakes no obligation to revise the forward-looking statements contained herein to reflect events or circumstances after the date hereof to reflect the occurrence of unanticipated events.
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