Computer Motion Upbeat on Third-Quarter Revenue; Additional Financing of $2 Million Received.Business Editors SANTA BARBARA, Calif.--(BUSINESS WIRE)--Aug. 10, 2001 Computer Motion Inc. (Nasdaq:RBOT RBOT Rotating Bomb Oxidation Test ), the pioneer and leader in medical robotics, today announced solid July purchase orders and letters of intent for anticipated delivery and revenue in the third quarter of 2001. At the end of July, Computer Motion had received more than $3,000,000 of orders for the third quarter of 2001.
LOIs and Purchase
Actual Q2 Orders Received in
Results July
Americas
AESOP 17 10
ZEUS 2 --
Asia/Europe/ME
AESOP 5 (a)8
ZEUS -- (a)1
Worldwide
AESOP $1,400,000 $1,160,000
HERMES/Socrates $432,000 (a)$890,000
ZEUS $1,300,000 $800,000
Recurring Revenue $800,000 $265,000
Developmental $70,000 --
$4,002,000 $3,115,000
(a) Denotes some units are from a letter of intent totaling
$1,768,000; it is estimated $1,000,000 will be counted in Q3.
In addition, Computer Motion has also received an order for 10 AESOP Aesop (ē`səp, ē`sŏp), legendary Greek fabulist. According to Herodotus, he was a slave who lived in Samos in the 6th cent. B.C. and eventually was freed by his master. (R) Robotic Endoscope endoscope, any instrument used to look inside the body. Usually consisting of a fiber-optic tube attached to a viewing device, endoscopes are used to explore and biopsy such areas as the colon and the bronchi of the lungs. Positioner units from Asia that are expected to be recognized for revenue in the fourth quarter of 2001. Furthermore, the company announced it has received an additional $2,000,000 in capital from Computer Motion officers to fund clinical trials toward FDA FDA abbr. Food and Drug Administration FDA, n.pr See Food and Drug Administration. FDA, n.pr the abbreviation for the Food and Drug Administration. approval of the company's ZEUS(TM) Robotic Surgical System. "We are pleased with our current results and are excited about our prospects for the future," stated Robert Duggan, chairman and chief executive officer of Computer Motion. Computer Motion is a high-tech medical device company evolving surgical practices to enhance patient lives. The company develops, manufactures and markets proprietary computer-enhanced and robotic surgical systems, which enhance surgeons' capabilities, improve outcomes and reduce costs. Computer Motion plays a significant role in transitioning the surgical community from current open procedures to increasingly demanded endoscopic en·do·scope n. An instrument for examining visually the interior of a bodily canal or a hollow organ such as the colon, bladder, or stomach. en procedures. Computer Motion's products include the ZEUS(R) robotic system robotic system An integrated system of devices that automate production and manufacturing of goods and services Surgery An AI-based surgical assistant system, which processes sensory input from haptic interfaces and/or allows surgeons to act with more accuracy than for new minimally invasive microsurgical procedures, such as endoscopic beating heart bypass surgery Bypass surgery A surgical procedure that grafts blood vessels onto arteries to reroute the blood flow around blockages in the arteries (arteriosclerosis). , and the HERMES(TM) Control Center, a centralized system that enables the surgeon to voice control a network of "smart" medical devices. The AESOP(R) Robotic Endoscope Positioner is the first FDA-cleared surgical robot surgical robot Surgery A device used to perform some surgical procedures Pros Smaller incisions, ↓ pain, correction of surgeon error and tremors, ↓ infections and other post-surgical complications, faster recovery, better outcomes Cons , and the ZEUS Robotic Surgical System is CE-Marked for commercial sale in the European Community. Computer Motion has completed an FDA-approved Phase 1 Investigational Device Exemption An Investigational Device Exemption (IDE) allows the investigational device to be used in a clinical study in order to collect safety and effectiveness data required to support a Premarket Approval (PMA) application or a Premarket Notification [510(k)] submission to Food and (IDE) coronary bypass study and has initiated an IDE mitral valve surgery, general laparoscopic Laparoscopic A minimally-invasive surgical or diagnostic procedure that uses a flexible endoscope (laparoscope) to view and operate on structures in the abdomen. Mentioned in: Obstetrical Emergencies and thoracic studies with the ZEUS system. Also, the company has begun the second phase of its tubal Tubal (t  `bəl), in the Bible, son of Japheth. reanastomosis study.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, deferrals and/or cancellation of letters of intents and/or bookings, 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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