Intuitive Surgical first-quarter net profit beats expectations

(Reuters) - Intuitive Surgical Inc on Tuesday reported a first-quarter net profit that topped Wall Street expectations, helped by expanded use of its da Vinci surgical robots in U.S. general surgery procedures.

Excluding one-time items, Intuitive said it earned $4.42 a share. Analysts on average expected $4.33 a share, according to Thomson Reuters I/B/E/S.

Net profit for the quarter rose to $136 million, or $3.54 a share, from $97 million, or $2.57 a share, a year ago.

The company's net quarterly profit had been projected at $3.43 a share, according to Thomson Reuters I/B/E/S.

Revenue rose 12 percent to $595 million.

The company said it shipped 110 da Vinci systems in the first quarter, up from 99 units in the year-ago period.

 

Procedures using da Vinci robots rose 17 percent worldwide from a year ago, driven by growth in U.S. general surgery and worldwide urological surgeries.

(Reporting by Susan Kelly in Chicago; editing by Leslie Adler, G Crosse)