Intuitive Surgical, Inc. Announces Unaudited Consolidated Earnings Results for the Fourth Quarter and Full Year Ended December 31, 2015; Provides Earnings Guidance for the Full Year 2016
January 21, 2016 at 04:05 pm EST
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Intuitive Surgical, Inc. announced unaudited consolidated earnings results for the fourth quarter and full year ended December 31, 2015. For the quarter, the company reported total revenue of USD 676.5 million against USD 604.7 million a year ago. Income from operations was USD 245.9 million against USD 186.1 million a year ago. Income before taxes was USD 251.8 million against USD 184.8 million a year ago. Net income was USD 190.0 million or USD 4.99 per diluted share against USD 146.8 million or USD 3.94 per diluted share a year ago. Non-GAAP revenue was USD 676.5 million against USD 600.8 million a year ago. Non-GAAP income from operations was USD 292.6 million against USD 237.0 million a year ago. Non-GAAP income per diluted share was USD 5.89 against USD 4.92 a year ago. Non-GAAP net income was USD 224.3 million against USD 183.5 million a year ago.
For the year, the company reported total revenue of USD 2,384.4 million against USD 2,131.7 million a year ago. Income from operations was USD 740 million against USD 544.8 million a year ago. Income before taxes was USD 758.5 against USD 549.0 million a year ago. Net income was USD 588.8 million or USD 15.54 per diluted share against USD 418.8 million or USD 11.11 per diluted share a year ago. Non-GAAP revenue was USD 2,384.4 million against USD 2,131.7 million a year ago. Non-GAAP income from operations was USD 945.7 million against USD 818.7 million a year ago. Non-GAAP income per diluted share was USD 19.28 against USD 16.10 a year ago. Non-GAAP net income was USD 730.9 million against USD 606.9 million a year ago.
For 2016, the company expects pro forma gross profit margin to be within a range of between 68% and 69.5% of net revenue. With regard to income tax, expects pro forma income tax rate to be between 26.5% and 28.5% of pretax income, depending primarily on the mix of U.S. and OUS profits.
Intuitive Surgical, Inc. specializes in the design, manufacturing, and marketing of robotic surgical assistance video systems. The systems consist of a surgical console, arm, remote-controlled endoscope, and 3D visual immersion system. Net sales break down by activity as follows:
- sale of instruments and accessories (60%): primarily wrist cuffs;
- sale of robotic systems (23.6%): systems marketed under the da Vinci brand (1,370 units sold in 2023) and intended primarily for urological, cardio-thoracic, and gynecological surgeries;
- installation and training services (16.4%).
The United States accounts for 65.8% of net sales.
Intuitive Surgical, Inc. Announces Unaudited Consolidated Earnings Results for the Fourth Quarter and Full Year Ended December 31, 2015; Provides Earnings Guidance for the Full Year 2016