logo
Plus   Neg
Share
Email

Intuitive Q4 Revenues Climb, Sees Higher Procedures In FY20; Stock Up

Intuitive Surgical, Inc.'s (ISRG) shares gained around 3 percent in the after-hours trading on Thursday after the technology company focused on minimally invasive care and robotic-assisted surgery reported higher preliminary profit in its fourth quarter.

Looking ahead for fiscal 2020, the company expects worldwide da Vinci procedures to increase approximately 13 percent to 16 percent.

For the fourth quarter, the California-based company's revenue increased 22 percent to $1.278 billion from last year's $1.047 billion.

Instrument and accessory revenue increased 24 percent to approximately $671 million. Systems revenue increased 22 percent to approximately $416 million.

da Vinci procedures increased about 19 percent, primarily driven by growth in U.S. general surgery procedures and worldwide urologic procedures. The company shipped 336 da Vinci Surgical Systems in the quarter, up from 290 systems a year ago.

Preliminary 2019 revenue was $4.479 billion, up 20 percent from last year with 18 percent rise in da Vinci procedures. The Company shipped 1,119 systems in 2019, compared with 926 systems in 2018.

Intuitive CEO Gary Guthart said, "We are pleased with our fourth quarter procedure growth, system placements, and the financial results that follow. As we enter 2020, we remain focused on innovation across our ecosystem of products and working collaboratively with our customers to support best in class robotics programs."

The company is scheduled to report its fourth quarter 2019 results during on January 23.

Intuitive shares closed Thursday's regular trading at $585.79, up 0.69 percent. In the extended trading, shares grew 2.8 percent to $602.

For comments and feedback contact: editorial@rttnews.com

Business News

Editors Pick
CJ Foods, Inc., a division of CJ America, Inc., recalled Annie Chun's Japanese-Style Teriyaki Noodle Bowls due to undeclared peanuts, the U.S. Food and Drug Administration said. The La Palma, California-based company initiated the recall after discovering that some bowls that were packaged in outer sleeves indicating Teriyaki Noodle Bowls contain Pad Thai noodle, which contains peanuts. Struggling home furnishings retailer Pier 1 Imports, Inc. said it filed for Chapter 11 bankruptcy protection as it is initiating a sale process. The company is in discussions with multiple potential buyers. In a statement, the company said it has also entered into a Plan Support Agreement or PSA with a majority of its term loan lenders. The deadline to submit bids will be on or around March 23. Apple Inc. (AAPL) said it doesn't expect to meet its revenue guidance for the second quarter due to lower smartphone demand, and temporary work slowdowns related to coronavirus outbreak in China.
Follow RTT
>