Intuitive Surgical, manufacturer of da Vinci robotic surgery systems, said its net income fell 37% to $418.8 million in 2014 and revenue for the year dropped 6% to $2.13 billion.
Rapid adoption of the da Vinci system over the last decade had made Intuitive a Wall Street darling. But some clinicians in recent years have become critical of using robotic surgery for common procedures such as hysterectomies.
The da Vinci is the only robotic surgery system approved by the Food and Drug Administration.
Intuitive Surgical said that revenue rose 5% to $604.7 million in the fourth quarter of 2014 (PDF), compared to $576.2 million in the same quarter a year ago. But net income fell 11% to $146.8 million in the fourth quarter of this year, compared to $166.2 million in the fourth quarter of 2013.
Sales of new da Vinci systems were flat. The company installed 137 new systems in the fourth quarter, compared to 138 systems in the fourth quarter 2013.
Still, Intuitive reported that procedures using the robotic systems rose 10% in the fourth quarter, attributing that growth to increased U.S. use of the system for general surgeries, as well as more urologic procedures using the da Vinci performed worldwide.
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