April 17, 2008 / 8:40 PM / 12 years ago

UPDATE 1-Intuitive Surgical 1st-quarter profit rises

(Adds revenue, sales details, company comment)

NEW YORK, April 17 (Reuters) - Intuitive Surgical Inc (ISRG.O) on Thursday said first-quarter profit jumped 88 percent, easily surpassing expectations, on increased demand for its da Vinci robotic surgical systems.

The Sunnyvale, California-based company, whose shares have tripled over the past 13 months, posted net profit of $44.8 million, or $1.12 per share, compared with profit of $23.8 million, or 62 cents a share, a year earlier.

Analysts on average expected 98 cents per share, according to Reuters Estimates.

Revenue for the quarter surged 65 percent to $188.2 million, topping Wall Street expectations of $178 million.

Da Vinci systems revenue jumped 76 percent to $99.1 million for the quarter, while instruments and accessories sales rose 54 percent to $61.9 million.

“Our financial performance reflects the continued expansion of robotic surgical procedures and the compelling value we provide to patients and hospitals,” Chief Executive Lonnie Smith said in a statement. (Reporting by Bill Berkrot; editing by Jeffrey Benkoe)

0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below