Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Biotech / Medical : Computer Motion (RBOT) -- Ignore unavailable to you. Want to Upgrade?

To: Dennis who wrote (769)	4/26/2000 8:58:00 PM
From: John Erb	Respond to of 793

600% normal volume, up fractionally, this earnings announcement: Computer Motion Announces First-Quarter Results April 26, 2000 08:03 AM Eastern Time SANTA BARBARA, Calif.--(BUSINESS WIRE)--April 26, 2000--Computer Motion Inc. RBOT , the leader in medical robotics, today announced preliminary, unaudited quarterly results for its first quarter ended March 31, 2000. Revenue for the quarter totaled $1.4 million and net loss was $5.0 million. The company anticipates announcing complete financial results for the first quarter on May 5, 2000, and will have a conference call and Webcast at that time. The first-quarter results reflect the difficulty in introducing innovative new technology in a tight capital market. "We were hit with the same decrease in capital spending by health-care providers that many other medical equipment companies faced in this past quarter," said Robert W. Duggan, chairman and CEO of Computer Motion. "Add to that the reluctance in tight budget times to embrace new technology, and our sales force had a very tough time. It is not easy to build something that enhances the quality of life, something that matters to society. Making history usually does not happen overnight. It comes from extraordinary efforts and passion. We are working hard to make our vision a reality." Duggan continued: "Our financial results, although far from satisfactory, are not indicative of the progress and success we achieved in the first quarter. Positive developments included product refinements for increased utility and ease of use; increased market acceptance of our technology; and significant progress in a total procedure solution for effective and repeatable beating heart, endoscopic heart bypass surgeries." "We are off to a very strong start in the second quarter," stated Gordon Rogers, chief financial officer of Computer Motion. "We have already booked and/or received purchase orders in excess of $3.5 million in products that are shippable this quarter. These events give us confidence that the second quarter of this year will establish a new all-time record in quarterly revenues. 2000 will be a year of continued growth and progress towards profitability." Computer Motion, the world leader in medical robotics, is creating the cornerstone technologies and products for the Intelligent Operating Room(TM). The company develops, manufactures and markets proprietary computer-enhanced and robotic surgical systems, which enhance surgeons' capabilities, improve outcomes and reduce costs. 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 coronary artery bypass grafting (E-CABG(TM)). ZEUS is CE-Marked for commercial sale in the European Community, and the company has completed an FDA-approved Phase 1 Investigational Device Exemption (IDE) study with ZEUS. Computer Motion and Medtronic MDT are co-marketing ZEUS. 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. RS/la CONTACT: Computer Motion Inc., Goleta, Calif. Robert W. Duggan, 805/968-9600, ext. 113 Gordon L. Rogers, 805/968-9600, ext. 155