On April 19, Intuitive Surgical
- Revenues surged by 48%, thanks to the massive growth in instruments and accessories.
- Net income rose by more than 64%, primarily because of strong top-line performance and margin improvements.
- The company strengthened its balance sheet by substantially increasing its cash and short-term investments.
- Going forward, management anticipates that da Vinci hysterectomy procedures will be a major growth driver.
- Intuitive Surgical is a Rule Breakers selection. The stock is up 175% since it was highlighted in our service two years ago.
(Figures in millions, except per-share data)
Income Statement Highlights
Q1 2007 |
Q1 2006 |
Change |
|
---|---|---|---|
Sales |
$114.2 |
$77.3 |
47.9% |
Net Profit |
$23.8 |
$14.5 |
64.6% |
EPS |
$0.62 |
$0.38 |
63.2% |
Diluted Shares |
38.4 |
37.8 |
1.5% |
Get back to basics with the income statement.
Margin Checkup
Q1 2007 |
Q1 2006 |
Change* |
|
---|---|---|---|
Gross Margin |
67% |
66.9% |
0.1 |
Operating Margin |
30.1% |
28.1% |
1.9 |
Net Margin |
20.8% |
18.7% |
2.1 |
Margins are the earnings engine.
Balance Sheet Highlights
Assets |
Q1 2007 |
Q1 2006 |
Change |
---|---|---|---|
Cash + ST Invest. |
$384.8 |
$165.4 |
132.6% |
Accounts Rec. |
$90.5 |
$57.0 |
58.8% |
Inventory |
$26.3 |
$20.4 |
28.9% |
Liabilities |
Q1 2007 |
Q1 2006 |
Change |
---|---|---|---|
Accounts Payable* |
$41.0 |
$27.3 |
50.2% |
Long-Term Debt |
$0.0 |
$0.0 |
N/A |
The balance sheet reflects the company's health.
Cash Flow Highlights
System error! Intuitive failed to provide cash flow statements.
Free cash flow is a Fool's best friend.
Related Foolishness:
Intuitive Surgical is a Motley Fool Rule Breakers pick. Discover more cutting-edge growth stocks with a free 30-day trial to David Gardner's market-beating newsletter service.
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