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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.

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