Intuitive Surgical, Inc. (ISRG) has reported a 31.82 percent jump in profit for the quarter ended Mar. 31, 2017. The company has earned $179.80 million, or $4.67 a share in the quarter, compared with $136.40 million, or $3.54 a share for the same period last year. On the other hand, adjusted net income for the quarter stood at $196 million, or $5.09 a share compared with $170.30 million or $4.42 a share, a year ago.
Revenue during the quarter grew 13.41 percent to $674.20 million from $594.50 million in the previous year period. Gross margin for the quarter expanded 101 basis points over the previous year period to 69.13 percent. Total expenses were 71.60 percent of quarterly revenues, up from 69.89 percent for the same period last year. That has resulted in a contraction of 171 basis points in operating margin to 28.40 percent.
Operating income for the quarter was $191.50 million, compared with $179 million in the previous year period.
However, the adjusted operating income for the quarter stood at $263.90 million compared to $229.10 million in the prior year period. At the same time, adjusted operating margin improved 61 basis points in the quarter to 39.14 percent from 38.54 percent in the last year period.
Commenting on the announcement, Dr. Gary Guthart, president and chief executive officer of Intuitive Surgical, said, "We are pleased with broad-based da Vinci procedure growth during the first quarter and are encouraged by trends in key global markets and our U.S. general surgery business. Consistent with our mission, we strive to make surgery more effective, less invasive and easier on surgeons, patients and their families by actively engaging hospitals and surgical teams."
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