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Intuitive Surgical Q1 Worldwide Da Vinci Procedures Up Approx. 15%

Intuitive Surgical, Inc. (ISRG) reported, for the first-quarter, Worldwide da Vinci procedures grew approximately 15% year-over-year, driven primarily by growth in U.S. general surgery procedures and worldwide urologic procedures. The company shipped 185 da Vinci Surgical Systems compared with 133, prior year.

First quarter non-GAAP net income was $288 million, or $2.44 per share, compared to $197 million, or $1.71 per share, prior year. First-quarter revenue was $848 million grew approximately 25% compared with $680 million, prior year. Foreign currency changes contributed approximately three percentage points to the revenue growth. The company noted that its prior year quarter results reflected the deferral of $23 million of revenue associated with a customer trade-out program.

The da Vinci Surgical System is a surgical platform designed to enable complex surgery using a minimally invasive approach. Intuitive Surgical, Inc., headquartered in Sunnyvale, California, is a global technology leader in robotic-assisted, minimally invasive surgery.

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