SUNNYVALE, Calif., July 21, 2020 (GLOBE NEWSWIRE) -- Intuitive (the “Company”) (Nasdaq: ISRG), a global technology leader in minimally invasive care and the pioneer of robotic-assisted surgery, today announced financial results for the quarter ended June 30, 2020.
Q2 Highlights
Worldwide da Vinci procedures decreased approximately 19% compared with the second quarter of 2019, primarily as a result of the significant disruption caused by the COVID-19 pandemic.
The Company shipped 178 da Vinci Surgical Systems, a decrease of 35% compared with 273 in the second quarter of 2019.
The Company grew its da Vinci Surgical System installed base to 5,764 systems as of June 30, 2020, an increase of 9% compared with 5,270 as of the end of the second quarter of 2019.
Second quarter 2020 revenue of $852 million decreased 22% compared with $1,099 million in the second quarter of 2019. Second quarter 2020 revenue included a $59 million decrease in service revenue relating to our previously announced Customer Relief Program.
Second quarter 2020 GAAP net income was $68 million, or $0.57 per diluted share, compared with $318 million, or $2.67 per diluted share, in the second quarter of 2019.
Second quarter 2020 non-GAAP* net income was $132 million, or $1.11 per diluted share, compared with $388 million, or $3.25 per diluted share, in the second quarter of 2019.
Second quarter 2020 GAAP and non-GAAP* net income includes $37 million, or $0.31 per diluted share, of discrete income tax expense arising from the conclusion of a tax case between an independent third party and the IRS related to charging foreign subsidiaries for shared-based compensation.
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