Intuitive Surgical, Inc. Announces Unaudited Consolidated Earnings Results for the Fourth Quarter and Full Year Ended December 31, 2016
January 24, 2017 at 04:07 pm
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Intuitive Surgical, Inc. announced unaudited consolidated earnings results for the fourth quarter and full year ended December 31, 2016. For the quarter, the company reported total revenue of USD 756.9 million against USD 676.5 million a year ago. Income from operations was USD 264.4 million against USD 245.9 million a year ago. Income before taxes was USD 276.1 million against USD 251.8 million a year ago. Net income was USD 204.0 million or USD 5.13 per diluted share against USD 190.0 million or USD 4.99 per diluted share a year ago. Non-GAAP income from operations was USD 319.7 million against USD 292.6 million a year ago. Non-GAAP income per diluted share was USD 6.09 against USD 5.89 a year ago. Non-GAAP net income was USD 242.3 million against USD 224.3 million a year ago. Higher fourth quarter revenue was driven by growth in recurring instrument, accessory, and service revenue, and higher systems revenue.
For the year, the company reported total revenue of USD 2,704.4 million against USD 2,384.4 million a year ago. Income from operations was USD 945.2 million against USD 740.0 million a year ago. Income before taxes was USD 980.8 against USD 758.5 million a year ago. Net income was USD 735.9 million or USD 18.73 per diluted share against USD 588.8 million or USD 15.54 per diluted share a year ago. Non-GAAP income from operations was USD 1,153.5 million against USD 945.7 million a year ago. Non-GAAP income per diluted share was USD 22.36 against USD 19.28 a year ago. Non-GAAP net income was USD 878.7 million against USD 730.9 million a year ago.
Intuitive Surgical, Inc. specializes in the design, manufacturing, and marketing of robotic surgical assistance video systems. The systems consist of a surgical console, arm, remote-controlled endoscope, and 3D visual immersion system. Net sales break down by activity as follows:
- sale of instruments and accessories (60%): primarily wrist cuffs;
- sale of robotic systems (23.6%): systems marketed under the da Vinci brand (1,370 units sold in 2023) and intended primarily for urological, cardio-thoracic, and gynecological surgeries;
- installation and training services (16.4%).
The United States accounts for 65.8% of net sales.
INTUITIVE SURGICAL, INC. 
