On Oct. 18, robotic surgery pioneer Intuitive Surgical
- The company sold 63 new robotic surgery systems during the quarter, including 17 outside the country. That's up from 46 systems sold a year ago, bringing the installed base up to 719 units across the globe.
- Intuitive is rapidly building a strong balance sheet, with no debt to speak of and a hefty cash position. Inventories are growing, but not nearly as fast as sales -- demand for its machines appears higher than the available supply.
- Intuitive Surgical is one of the top performers on our Motley Fool Rule Breakers scorecard, right next to other market thumpers like online jeweler Blue Nile
(NASDAQ:NILE) and OLED pioneer Universal Display(NASDAQ:PANL) . See the rest of the gang with a free 30-day trial pass to our early adopter money maker.
(Figures in thousands, except per-share data)
Income statement highlights
Q3 2007 |
Q3 2006 |
Change |
|
---|---|---|---|
Sales |
$156,904 |
$95,832 |
63.7% |
Net Profit |
$40,919 |
$17,263 |
137% |
Diluted EPS |
$1.04 |
$0.45 |
131.1% |
Diluted Shares |
39,271 |
38,184 |
2.8% |
Get back to basics with the income statement.
Margin checkup
Q3 2007 |
Q3 2006 |
Change* |
|
---|---|---|---|
Gross Margin |
69.1% |
65.7% |
3.5 |
Operating Margin |
34.4% |
27.5% |
6.9 |
Net Margin |
26.1% |
18% |
8.1 |
Margins are the earnings engine.
Balance sheet highlights
Assets |
Q3 2007 |
Q3 2006 |
Change |
---|---|---|---|
Cash + ST Invest. |
$533,489 |
$292,297 |
82.5% |
Accounts Rec. |
$120,456 |
$71,679 |
68% |
Inventory |
$26,773 |
$22,330 |
19.9% |
Liabilities |
Q3 2007 |
Q3 2006 |
Change |
---|---|---|---|
Accounts Payable & Accrued Liabilities |
$63,525 |
$36,230 |
75.3% |
The balance sheet reflects the company's health.
Cash flow highlights
Free cash flow is a Fool's best friend. The company didn't let it out to play today, but Intuitive's full 10-Q statement tends to follow the earnings report within days. Stay tuned.
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