Intuitive Surgical (ISRG) Tops Q3 EPS by 101c

Intuitive Surgical (NASDAQ: ISRG) reported Q3 EPS of $5.24, $1.01 better than the analyst estimate of $4.23. Revenue for the quarter came in at $590 million versus the consensus estimate of $580.37 million.

• Worldwide da Vinci procedures grew approximately 15% over the third quarter of 2014, driven primarily by growth in U.S. general surgery procedures and broad-based procedure growth in Asia and other international markets.
• The Company shipped 117 da Vinci Surgical Systems, compared with 111 in the third quarter of 2014 and 118 in the second quarter of 2015.
• Non-GAAP* revenue of $590 million for the quarter grew approximately 10% compared with $534 million for the third quarter of 2014.
• Third quarter 2015 non-GAAP* net income was $199 million, or $5.24 per diluted share, compared with $145 million, or $3.92 per diluted share, for the third quarter of 2014. The Company's third quarter 2015 income tax expense benefited by approximately $29 million, or $0.77 per diluted share, relating to certain tax benefits recorded in the quarter.
• During the third quarter 2015 the Company filed for FDA 510(k) clearances in the U.S. for Single-Site instruments and 30mm EndoWrist stapler products for the da Vinci XiSurgical System.

For earnings history and earnings-related data on Intuitive Surgical (ISRG) click here.

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