Intuitive Surgical reported higher-than-expected fourth-quarter profit on Tuesday on increased sales of its da Vinci surgical robots and a rise in procedures using the pricy machines.
The Sunnyvale company reported a net profit of $175 million, or $4.25 per share, compared with a profit of $151 million, or $3.75 per share, a year ago. Analysts on average expected $4.04 per share, according to Thomson Reuters.
Revenue rose 23 percent to $609 million, exceeding Wall Street forecasts of $584.4 million, driven by the sale of 175 da Vinci systems in the quarter at a price of about $1.5 million each and procedure growth of 25 percent.
David Mendiola adjusts the arms of a da Vinci Surgical System as he conducts a system integration test at the headquarters and manufacturing plant of Intuitive Surgical in Sunnyvale, Calif. on Friday, Aug.10, 2012. (Gary Reyes/ Staff) (Gary Reyes)
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