Intuitive Surgical, manufacturer of the da Vinci surgical robot, reported a surge in earnings in the first quarter of 2015, thanks in large part to lower operating expenses.
The Sunnyvale, Calif.-based company reported $97 million in profit for the three months ended March 31, more than double the $44.3 million in profit earned in the the same quarter in 2014. The company was able to widen its profit margins by cutting general, selling and administrative expenses by about 25%.
Revenue increased by 14.5% to $532.1 million, driven by a 14% increase in sales of the company's flagship device. Intuitive shipped 99 da Vinci surgical systems during the quarter, compared with 87 in the first quarter of 2014. The number of procedures using the device, meanwhile, increased 13% worldwide.
The company ">said in January
Intuitive received European regulatory approval this month to sell the EndoWrist Stapler for its Xi and Si robots and last month received clearance to sell the da Vinci Xi robot in Japan, the company said Tuesday.
