Intuitive Surgical (NSDQ:ISRG) posted 1st-quarter results today that failed to meet the mark on both the top and bottom lines, sending its share price down in after-hours trading.
Sunnyvale, Calif.-based Intuitive reported bottom-line growth of 119.0% to $97 million, or $2.57 per share, on sales growth of 14.5% to $532.1 million for the 3 months ended March 31, compared with the same period last year.*
Adjusted to exclude 1-time items, profits were $134.6 million, or $3.57 per share, a full 30¢ below expectations on Wall Street.
"We are pleased with our procedure performance in the quarter and we remain focused on improving the efficiency and costs of our operations for our newly launched products," president & CEO Gary Guthart said in prepared remarks.
ISRG shares closed down -1.2% at $546.26 apiece today and slid another -3.5% in after-hours trading to $527 even.
*Correction, April 22, 2015: Due to a reporter’s error, this article originally misstated the comparison with the 2014 1st quarter. Return to the corrected sentence.