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Intuitive Surgical 2Q net income rises 42 percent

Wed, 07/21/2010 - 2:45pm
The Associated Press

Intuitive Surgical Inc. on Wednesday said its second-quarter net income rose 42 percent on better sales of its minimally invasive surgical platform, da Vinci.

Net income increased to $88.7 million, or $2.19 per share, from $62.4 million, or $1.62 per share, in the same period a year earlier. Revenue climbed 35 percent to $350.7 million from $260.6 million.

Analysts polled by Thomson Reuters expected net income of $2.04 per share on $334.9 million in revenue.

Intuitive Surgical said it sold 108 da Vinci Surgical Systems in the quarter, compared with 76 in the same quarter a year earlier. The systems are used in heart and urologic surgeries, among other procedures.

Shares of Intuitive fell $21.10, or 6.7 percent, to $295 in after-hours trading. The stock earlier slid $9.99, or 3.1 percent, to end regular trading at $316.10. The stock has ranged from $164.62 to $393.92 over the past year.

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