Intuitive Surgical Beats Analysts Estimate, 2Q Earnings Up by 26%

Intuitive Surgical Beats Analysts Estimate, 2Q Earnings Up by 26%

Intuitive Surgical, Inc. (NASDAQ:ISRG), the leading surgical robotics provider, reported $537 million revenue, or $3.75 per share during the second quarter of 2012. Its revenue is 26 percent higher than its $426 million revenue during the same period last year.

The company beats the $522.8 million, or $3.56 per share, analysts expectation. Its second quarter positive earnings are primarily driven by its da Vinci Surgical robots. The company sold 150 da Vinci Surgical Systems, compared with 129 during the quarter in 2011.

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Based on the earnings report of Intuitive Surgical, Inc. (NASDAQ:ISRG), its earnings on accessories and instruments is $224 million this quarter. The result climbed 30 percent from $172 million during the same period last year. The company also posted 23% increase in systems revenue, from $187 million, during the second quarter in 2011, to the current $229 million.

Intuitive Surgical, Inc. (NASDAQ:ISRG)’s profit on procedures rose by 26 percent, due to te increase in gynecologic procedures, general surgery procedures in the United States, and international urologic procedures. Its service revenue also reflected 23 percent increase, from $68 million to $83 million.

The company’s second quarter operating income is $225 million, and its net income is $155 million, or $3.75 per diluted share. Last year, its recorded net income during the same period was $117 million, or $2.91 per diluted share.

In a statement, Dr. gary Guthart, president and CEO of the company, said the strong growth of gynecologic and general surgery in the United States are behind the solid performance of the company during the quarter. It also compensated  for the decline in US prostatectomy, and the effect of the financial crisis in Europe.

Intuitive Surgical had $2.6 billion in cash, cash equivalents, and investments during the second quarter of 2012.

The da Vinci Surgical System is an innovative surgical platform, which enables surgeons to perform complex surgery using a minimally invasive approach.

The company’s stock value is down by 0.94 percent, to $544.21 per share on Thursday (5:16 PM ET).