Intuitive Surgical third-quarter profit rises

Tue Oct 16, 2012 4:26pm EDT

* Q3 net EPS $4.46

* Revenue up 20 percent to $538 million

Oct 16 (Reuters) - Intuitive Surgical Inc on Tuesday reported higher third-quarter profit on increased sales of its high-priced da Vinci surgical robot systems.

Growth in procedures using da Vinci systems rose 22 percent but were below company expectations due to spending constraints in Europe and a slowdown in U.S. prostate surgeries. The company had cautioned in July that those trends were likely to persist through this year.

Third-quarter net profit rose to $183 million, or $4.46 per share, from $122 million, or $3.05 per share, a year ago.

Revenue rose about 20 percent to $538 million, primarily driven by the sale of 155 da Vinci systems at a cost of about $1.5 million each. That exceeded Wall Street estimates of $535.4 million.

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