Intuitive Surgical: Q4, FY2015 earnings trounce street; New FDA 510(k)

Intuitive Surgical (NSDQ:ISRG) released a bevy of good news today, posting Q4 and fiscal year 2014 earnings that trounced street estimates and announcing FDA 510(k) clearance for the Integrated Table Motion for the da Vinci Xi surgical system. Intuitive Surgical reported profits of $190 million, or $4.99 per share, on sales of $676.5 million for the 3 months ended December 31. That amounts to significant 29.4% bottom-line gain on sales growth of 11.9% compared with the same period in 2014. Adjusted to exclude 1-time items, earnings per share were $5.89; Wall Street analysts were looking for an adjusted EPS of $5.04. Revenue also beat analyst estimates by over $20 million. For the full fiscal year 2015, Intuitive Surgical reported profits of $588.8 million, or $15.54 per share, on sales of $2.4 billion for the 12 months ended December 31. That amounts to a massive 40.6% bottom-line gain on sales growth of 11.9% compared with the numbers the company recorded in 2014. After adjusting to exclude 1-time items, earnings per share were $19.28, topping analysts expectations of $18.40 by nearly a dollar. Revenue also beat analyst expectations by a more narrow $24 million. “Our strong results reflect expanded use of our products in general surgery and international markets. While robotic-assisted surgery has been growing for years, we believe we are in the early stages relative to our long-term opportunity,” CEO Dr. Gary Guthart said in a press release. The company also ...
Source: Mass Device - Category: Medical Equipment Authors: Tags: Business/Financial News Robot-Assisted Surgery Robotics Hill-Rom Holdings Inc. Intuitive Surgical Inc. Source Type: news