July 20, 2017 / 8:26 PM / 7 months ago

Intuitive Surgical second-quarter net profit rises 20 percent

July 20 (Reuters) - Intuitive Surgical Inc on Thursday said its second-quarter net income rose 20 percent due to higher sales of its da Vinci surgical robots as well as an accounting change.

Quarterly net income totaled $222 million, or $5.77 per share, compared with $185 million, or $4.71 per share, due in part to a new 2017 accounting standard requiring that $30.6 million, or 80 cents per share, of excess tax benefits related to employee share-based compensation awards be recorded as a component of income tax expense.

Excluding items, Intuitive said it earned $228 million, or $5.95 per share.

Revenue totaled $756 million, up 13 percent from a year earlier, driven by growth in recurring instrument, accessory, and service revenue, and higher systems revenue.

The company said it shipped 166 da Vinci Surgical Systems in the second quarter, compared with 130 in the second quarter of 2016. (Reporting by Deena Beasley; Editing by James Dalgleish)

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