ISRG FY 2010 Earnings Report — Intuitive Surgical, Inc. Revenue & Financial Results | Market Cap Arena

Intuitive Surgical, Inc.ISRG

FY 2010 Earnings

Reported February 1, 2011

Quarter Comparison

Revenue

Operating Income

Gross Margin

Net Margin

EPS (Diluted)

Free Cash Flow

Metric	FY 2010	Prior Q	FY 2009	QoQ Change	YoY Change
Revenue	$1.4B	—	$1.1B	—	34.3%
Op. Income	$555M	—	$377M	—	47.1%
Gross Margin	72.9%	—	71.4%	—	1.5pp
Net Margin	27.0%	—	22.1%	—	4.9pp
EPS (Diluted)	$1.05	—	$0.66	—	59.1%
Free Cash Flow	$432M	—	$332M	—	30.3%

Revenue Flow

Item	Amount
REVENUE	$1.4B
Cost of Revenue	$383M
GROSS PROFIT	$1.0B
R&D Expenses	$116M
Selling & Marketing	$0
General & Administrative	$359M
SG&A Expenses	$359M
Other Expenses	$0
Operating Expenses	$475M
Cost & Expenses	$858M
OPERATING INCOME	$555M
Interest Income	$17M
Interest Expense	$0
Other Income/Expenses	$17M
INCOME BEFORE TAX	$572M
Income Tax Expense	$191M
Net Income from Continuing Ops	$382M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$382M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$382M
D&A	$40M
EBIT	$555M
EBITDA	$596M
EPS	$1
EPS Diluted	$1

Income Statement

Item	Amount
REVENUE	$1.4B
Cost of Revenue	$383M
GROSS PROFIT	$1.0B
R&D Expenses	$116M
Selling & Marketing	$0
General & Administrative	$359M
SG&A Expenses	$359M
Other Expenses	$0
Operating Expenses	$475M
Cost & Expenses	$858M
OPERATING INCOME	$555M
Interest Income	$17M
Interest Expense	$0
Other Income/Expenses	$17M
INCOME BEFORE TAX	$572M
Income Tax Expense	$191M
Net Income from Continuing Ops	$382M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$382M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$382M
D&A	$40M
EBIT	$555M
EBITDA	$596M
EPS	$1
EPS Diluted	$1

Cash Flow Statement

Item	Amount
Net Income	$382M
Depreciation & Amortization	$40M
Stock-Based Compensation	$118M
Deferred Income Tax	-$22M
Other Non-Cash Items	-$7M
Change in Working Capital	$17M
OPERATING CASH FLOW	$528M
Capital Expenditure	-$96M
Acquisitions (Net)	$0
Purchases of Investments	-$1.4B
Sales/Maturities of Investments	$1.0B
Other Investing Activities	$0
NET CASH FROM INVESTING	-$477M
Net Debt Issuance	$0
Common Stock Repurchased	-$199M
Common Dividends Paid	$0
Other Financing Activities	$65M
NET CASH FROM FINANCING	$8M
FREE CASH FLOW	$432M
Net Change in Cash	$58M

Balance Sheet

Item	Amount
Cash & Equivalents	$1.6B
Short-Term Investments	$0
Net Receivables	$247M
Inventory	$87M
Other Current Assets	$32M
TOTAL CURRENT ASSETS	$2.0B
PP&E (Net)	$160M
Goodwill	$117M
Intangible Assets	$66M
Long-Term Investments	$699M
Tax Assets	$73M
Other Non-Current Assets	-$682M
TOTAL NON-CURRENT ASSETS	$366M
TOTAL ASSETS	$2.4B
Account Payables	$36M
Short-Term Debt	$0
Deferred Revenue	$127M
Other Current Liabilities	$29M
TOTAL CURRENT LIABILITIES	$353M
Long-Term Debt	$0
Deferred Revenue NC	$0
Deferred Tax Liabilities	$73M
Other Non-Current Liabilities	$79M
TOTAL NON-CURRENT LIABILITIES	$79M
TOTAL LIABILITIES	$353M
Common Stock	$0
Additional Paid-In Capital	$1.3B
Retained Earnings	$719M
Treasury Stock	$0
Accum. Other Comp. Income	$2M
Other Equity	$0
TOTAL STOCKHOLDERS' EQUITY	$2.0B
Minority Interest	$0
TOTAL EQUITY	$2.0B
TOTAL LIABILITIES & EQUITY	$2.4B
Total Debt	$0
Net Debt	-$1.6B