Intuitive Surgical, Inc. (Nasdaq:ISRG), the industry leader in surgical robotics, reported third quarter of 2011 revenue of $447 million, up 30% compared with $344 million for the third quarter of 2010. Third quarter of 2011 revenue growth was driven by continued robotic procedure adoption and higher da Vinci Surgical System sales.
Third quarter of 2011 instruments and accessories revenue increased 38% to $176 million from $128 million in the third quarter of 2010. The growth in instruments and accessories revenue was primarily driven by growth in da Vinci surgical procedures of approximately 30%. Third quarter of 2011 systems revenue was $199 million, an increase of 25%, compared to $160 million during the third quarter of 2010. The growth in third quarter 2011 systems revenue was driven by sales of 133 da Vinci Surgical Systems compared to 105 system sales during the same period last year. Third quarter of 2011 services revenue increased 25% to $72 million from $57 million during the third quarter of 2010, reflecting growth in the installed base of da Vinci Surgical Systems.
Third quarter of 2011 operating income increased 35% to $179 million from $132 million during the third quarter of 2010. Operating results for the third quarter of 2011 included $35 million of non-cash stock-based compensation expense compared with $30 million for the third quarter of 2010.
Third quarter of 2011 net income increased 41% to $122 million, or $3.05 per diluted share, from $87 million, or $2.14 per diluted share for the third quarter of 2010.
Intuitive ended the third quarter of 2011 with $1,887 million in cash, cash equivalents and investments, reflecting an increase of $65 million during the quarter, net of $181 million used to repurchase 526,000 shares of common stock.
Commenting on the announcement, Dr. Gary Guthart, President and CEO of Intuitive Surgical, said, “We are pleased with the growth in da Vinci procedures and the performance of our team in the quarter.”
Intuitive Surgical, Inc., headquartered in Sunnyvale, California, is the global technology leader in robotic-assisted, minimally invasive surgery. Intuitive Surgical develops, manufactures, and markets robotic technologies designed to improve clinical outcomes and help patients return more quickly to active and productive lives. The Company’s mission is to extend the benefits of minimally invasive surgery to the broadest possible base of patients. Intuitive Surgical — Taking surgery beyond the limits of the human hand(TM).
More about ISRG at www.intuitivesurgical.com
Female Health Co. (Nasdaq:FHCO) announced that its Board of Directors has declared a quarterly cash dividend of $0.05 per share. The dividend is payable November 9, 2011 to stockholders of record as of November 2, 2011. This will be the eighth consecutive quarterly dividend paid since the Company announced the initiation of a cash dividend program in January, 2010.
The Female Health Company manufactures, markets, and sells the FC2 female condoms in the United States and internationally. Its product provides dual protection against unintended pregnancy and sexually transmitted diseases, including HIV/AIDS.
Horizon Pharma, Inc (Nasdaq:HZNP) announced that it has received a Notice of Allowance from the United States Patent and Trademark Office for Application Serial No. 12/324808 entitled “Stable Compositions of Famotidine and Ibuprofen” with claims that cover DUEXIS®.
Horizon Pharma, Inc., a biopharmaceutical company, develops and commercializes medicines for the treatment of arthritis, pain, and inflammatory diseases.
Cleantech Transit, Inc. (CLNO)
Cleantech Transit Inc. was founded to capitalize on technology advances and manufacturing opportunities in the growing clean energy public transportation sector. The Company has expanded its focus to invest directly in specific green projects. Recognizing the many economic and operational advances of converting wood waste into renewable sources of energy, Cleantech has selected to invest in Phoenix Energy (www.phoenixenergy.net). This project could benefit the Company’s manufacturing clients worldwide.
Cleantech Transit, Inc. (CLNO) is pleased to announce it has met its funding requirement to secure the Company’s ability to earn in 25% of the 500KW Merced Project.
The Company is in the final stages of closing its initial interest in the Merced Project and is currently working on completing the necessary documentation and expects closing the transaction soon. As previously announced Cleantech has the option to earn up to 40% of the Merced Project and the Company plans to continue to work towards increasing its interest in the Merced Project as they move ahead.
Biomass is all plant and animal matter on the earth’s surface. Biomass is anything that is alive. Biomass gets its energy from the sun. Plants store the sun’s energy in their leaves and roots. Then animals eat plants and other animals to move and grow. The energy of the sun is ‘captured’ through the process of photosynthesis in growing plants. Biomass can be used to make electricity; many towns burn their garbage in waste-to-energy plants. Instead of putting the garbage in landfills, they burn it to make electricity.
For more information about Cleantech Transit, Inc. visit its website www.cleantechtransitinc.com
Raptor Pharmaceuticals Corp. (Nasdaq:RPTP) announced that Patrick Reichenberger, VP, Commercial Operations of Raptor will present an overview of the Company at the 2011 BioCentury NewsMakers in the Biotech Industry Conference. Raptor’s presentation will take place at the Millennium Broadway Hotel in New York City on Friday, October 21st at 11:30am ET.
Raptor Pharmaceuticals Corp. operates as a biotechnology company in the United States. The company is dedicated to speeding the delivery of new treatment options to patients by working to improve existing therapeutics through the application of highly specialized drug targeting platforms and formulation expertise.
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