Intuitive Surgical Inc. (NASDAQ: ISRG) reported late Tuesday that its first quarter net income increased to $104.1 million, or $2.59 a share, from $85.3 million, or $2.12 a share, in the year-earlier quarter. Revenue dropped to $388.1 million from $328.6 million in the prior year quarter. Analysts, on average, expected the company to report earnings of $2.49 per share on revenue of $381.21 million.
Commenting on the announcement, Gary Guthart, President and CEO of Intuitive Surgical, said, "Our procedure and revenue growth reflect further adoption of da Vinci Surgery across several procedure categories. We remain focused on developing and commercializing products that increase the efficacy and reduce the invasiveness of surgery."
Shares of the company fell more than 1% in after-hours trading on Tuesday.
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