Intuitive Surgical Profit Falls On Expenses

(RTTNews) - Intuitive Surgical Inc (ISRG), a provider of robotic-assisted surgery systems, on Thursday reported fourth-quarter net earnings of $146.8 million or $3.94 per share compared with $166.2 million or $4.28 per share last year.

Excluding items, adjusted earnings for the quarter were $4.92 per share compared with $4.98 per share a year ago.

Revenues for the quarter were $604.7 million compared with $576.2 million in the prior year.

Analysts polled by Thomson Reuters estimated earnings of $4.38 per share on revenues of $589.4 million for the quarter. Analysts' estimates typically exclude special items.

Commenting on the results, Gary Guthart, President and CEO of Intuitive Surgical, said, "We are pleased with our fourth quarter procedure and da Vinci system placement results which reflect an increase in the use of our products in general surgery, growing demand for our da Vinci Xi System and increased adoption in Europe and other international markets."

The company's results were hurt by expenses that climbed to $207.3 million from $189.4 million a year ago.