Intuitive Surgical Q4 Profit Tops Estimates; Non-GAAP Revenue Up Approx. 13%

(RTTNews) - Intuitive Surgical, Inc. (ISRG) reported fourth-quarter net income of $190 million, or $4.99 per share, compared to $147 million, or $3.94 per share, for the fourth quarter of 2014. Non-GAAP net income was $224 million, or $5.89 per share, for the quarter. On average, 17 analysts polled by Thomson Reuters expected the company to report profit per share of $5.04 for the quarter. Analysts' estimates typically exclude special items.

Fourth quarter revenue was $677 million, an increase of approximately 12% compared with $605 million in the fourth quarter of 2014. Fourth quarter non-GAAP revenue was equal to GAAP revenue and increased by approximately 13%, compared with $601 million in the fourth quarter of 2014. Analysts expected revenue of $655.32 million for the quarter.

Worldwide da Vinci procedures grew approximately 15% compared with the fourth quarter of 2014, driven primarily by growth in U.S. general surgery procedures and worldwide urologic procedures.

Intuitive Surgical ended the fourth quarter of 2015 with $3.3 billion in cash, cash equivalents, and investments, an increase of $223 million during the quarter, primarily driven by cash generated from operations.