Intuitive Surgical Q2 Profit Tops Estimates

(RTTNews) - Intuitive Surgical, Inc. (ISRG), the industry leader in robotic-assisted surgery, reported second quarter net income of $135 million, or $3.56 per share, compared to $104 million, or $2.77 per share, for the second quarter of 2014. Second quarter 2015 non-GAAP net income was $173 million, or $4.57 per share.

On average, 18 analysts polled by Thomson Reuters expected the company to report profit per share of $3.98 for the quarter. Analysts' estimates typically exclude special items.

The company noted that its second quarter 2015 GAAP and non-GAAP results benefited from $8 million of discrete income tax items.

Revenue was $586 million, an increase of approximately 14% compared with $512 million in the second quarter of 2014. Non-GAAP revenue of $586 million, grew approximately 16% compared with the second quarter of 2014. Analysts expected revenue of $566.86 million for the quarter.

Worldwide da Vinci procedures grew approximately 14% over the second quarter of 2014, driven primarily by growth in U.S. general surgery procedures and broad-based procedure growth in Asia and other international markets. The company shipped 118 da Vinci Surgical Systems, compared to 96 in the second quarter of 2014.

Intuitive Surgical ended the second quarter of 2015 with $2.9 billion in cash, cash equivalents, and investments.