On April 19, Intuitive Surgical (NASDAQ:ISRG) released first-quarter earnings for the period ended March 31.
- 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.
Fool by Numbers is designed to give you the raw earnings information in a timely fashion, putting all the numbers you need in one easy-to-read place. But at The Motley Fool, we believe numbers tell only part of the story, so check Fool.com for more of our in-depth discussion of what the numbers mean. This data has been provided by Netscribes. To provide feedback on this article, please click on the "feedback" button below.