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Intuitive Surgical Profits Up 56 Percent

Fri, 01/21/2011 - 6:29am

(AP) — Intuitive Surgical, Inc. announced ts fourth-quarter net income rose 56 percent on better sales of its minimally invasive surgical platform, da Vinci. Net income increased to $121.2 million, or $3.02 per share, from $77.5 million, or $1.95 per share, in the same period a year earlier. Revenue rose 21 percent to $389.3 million from $323 million.

The earnings easily beat expectations by analysts polled by FactSet for net income of $2.25 per share on $369.6 million in revenue. Shares of Intuitive rose $32.17, or 11 percent, to $322 in after-hours trading after closing down 62 cents at $289.83 during the regular session.

For the full year, the company earned $381.8 million, or $9.47 per share, up from $232.6 million, or $5.93 per share, in 2009. Revenue rose to $1.41 billion from $1.05 billion

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