Intuitive Surgical Q4 Da Vinci Procedures Up Approx. 19% YoY - Quick Facts

(RTTNews) - Intuitive Surgical, Inc. (ISRG) reported that the company's fourth-quarter worldwide da Vinci procedures grew approximately 19% compared with the fourth quarter of 2017, driven primarily by growth in U.S. general surgery procedures and worldwide urologic procedures. The company shipped 290 da Vinci Surgical Systems in the fourth quarter of 2018, compared with 216 in the fourth quarter of 2017. The fourth quarter 2018 system shipments included 84 systems shipped under operating lease and usage-based arrangements, compared with 40 during the fourth quarter of 2017.

Fourth quarter revenue was $1.05 billion, an increase of approximately 17% compared with $892 million in the fourth quarter of 2017. The company said higher fourth quarter revenue was driven by increased procedures and systems placements. Non-GAAP net income was $353 million, or $2.96 per diluted share, compared with $305 million, or $2.60 per diluted share, for the fourth quarter of 2017. The company noted that the contribution made to the Intuitive Foundation reduced fourth quarter non-GAAP net income by $0.16 per diluted share.

The company ended the fourth quarter of 2018 with $4.8 billion in cash, cash equivalents, and investments, an increase of $264 million during the quarter, primarily driven by cash generated from operations.