Intuitive Surgical, Inc. (NASDAQ:ISRG) reported weaker-than-expected earnings for its first quarter on Thursday.
The company, based in Sunnyvale, Calif., reported First quarter 2019 revenue of $974 million grew approximately 15% compared with $848 million for the first quarter of 2018.
First-quarter 2019 GAAP net income was $307 million, or $2.56 per diluted share, compared with $288 million, or $2.44 per diluted share, for the first quarter of 2018.
First-quarter 2019 non-GAAP net income was $312 million, or $2.61 per diluted share, compared with $288 million, or $2.44 per diluted share, for the first quarter of 2018.
Other developments: Worldwide da Vinci procedures grew approximately 18% compared with the first quarter of 2018, driven primarily by growth in U.S. general surgery procedures and worldwide urologic procedures.
Also, the Company shipped 235 da Vinci Surgical Systems, an increase of 27% compared with 185 in the first quarter of 2018.
Intuitive grew its installed base to 5,114 systems as of March 31, an increase of 13% compared with 4,528 as of the end of the first quarter of 2018.
In February, ISRG received U.S. Food and Drug Administration (“FDA”) clearance for the IonTM endoluminal system, the Company’s new flexible robotic-assisted catheter-based platform, designed to navigate through very small lung airways to reach peripheral nodules for biopsies.
In March, the Company received FDA clearance for the da Vinci SP® Surgical System for use in certain transoral otolaryngology procedures in adults.
ISRG shares jettisoned $24.90, or 4.7%, to $503.16 Monday morning.
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