Intuitive Surgical Blows Away Earnings Estimates (ISRG)

Intuitive Surgical ISRG reports Q4 earnings of $3.02 versus $2.24 estimate. reports Q4 revenues of $389 million versus estimates of $367.65 million. Commenting on the announcement, Gary Guthart, President and CEO of Intuitive Surgical, said, "We are pleased with our fourth quarter revenue and earnings growth. These results reflect strong procedure growth and the expansion of da Vinci Surgery across a broadening group of surgical procedures." Fourth quarter of 2010 instruments and accessories revenue increased 33% to $151 million from $113 million in the fourth quarter of 2009. The growth in instruments and accessories revenue was primarily driven by growth in da Vinci surgical procedures of approximately 35%. Fourth quarter of 2010 systems revenue was $178 million, an increase of 10%, compared to $162 million during the fourth quarter of 2009. Fourth quarter of 2010 service revenue increased 27% to $61 million from $48 million during the fourth quarter of 2009, reflecting growth in the installed base of da Vinci Surgical Systems. The company will hold a conference call at 4:30 to discuss the results. The stock is skyrocketing in after-hours trading, gaining $13.17 to $303.00, a gain of 4.5%.