Attached files
| file | filename |
|---|---|
| 8-K - 8-K - INTUITIVE SURGICAL INC | q1142014331-8k.htm |
| EX-99.1 - EXHIBIT 1 - INTUITIVE SURGICAL INC | q1142014331-exx991.htm |
| EX-99.3 - EXHIBIT 3 - INTUITIVE SURGICAL INC | q1142014331-exx993.htm |
Exhibit 99.2
Intuitive Surgical, Inc. Trended Quarterly and Annual Condensed Income Statement and Other Metrics (in millions, except per share data) 2012 - 2014 | |||||||||||||||||||||||||||||||||
Q1'12 | Q2'12 | Q3'12 | Q4'12 | Q1'13 | Q2'13 | Q3'13 | Q4'13 | Q1'14 | FY12 | FY13 | |||||||||||||||||||||||
Condensed Income Statement | |||||||||||||||||||||||||||||||||
Revenue | $ | 495.2 | $ | 536.5 | $ | 537.8 | $ | 609.3 | $ | 611.4 | $ | 578.5 | $ | 499.0 | $ | 576.2 | $ | 464.7 | $ | 2,178.8 | $ | 2,265.1 | |||||||||||
Gross Profit | 355.9 | 386.4 | 390.1 | 437.9 | 434.3 | 405.2 | 356.7 | 398.0 | 315.4 | 1,570.3 | 1,594.2 | ||||||||||||||||||||||
Gross Profit Percentage | 71.9 | % | 72.0 | % | 72.5 | % | 71.9 | % | 71.0 | % | 70.0 | % | 71.5 | % | 69.1 | % | 67.9 | % | 72.1 | % | 70.4 | % | |||||||||||
SG&A Expenses | 124.2 | 120.9 | 129.0 | 148.1 | 141.5 | 145.5 | 139.3 | 147.7 | 215.8 | 522.2 | 574.0 | ||||||||||||||||||||||
Research and Development | 38.4 | 40.2 | 49.7 | 41.7 | 41.6 | 41.2 | 43.2 | 41.7 | 43.0 | 170.0 | 167.7 | ||||||||||||||||||||||
Total Operating Expenses | 162.6 | 161.1 | 178.7 | 189.8 | 183.1 | 186.7 | 182.5 | 189.4 | 258.8 | 692.2 | 741.7 | ||||||||||||||||||||||
Operating Income | 193.3 | 225.3 | 211.4 | 248.1 | 251.2 | 218.5 | 174.2 | 208.6 | 56.6 | 878.1 | 852.5 | ||||||||||||||||||||||
Percentage of Sales | 39.0 | % | 42.0 | % | 39.3 | % | 40.7 | % | 41.1 | % | 37.8 | % | 34.9 | % | 36.2 | % | 12.2 | % | 40.3 | % | 37.6 | % | |||||||||||
Other Income | 3.8 | 4.0 | 4.3 | 3.7 | 4.3 | 4.3 | 3.9 | 5.9 | 3.9 | 15.8 | 18.4 | ||||||||||||||||||||||
Earnings Before Taxes | 197.1 | 229.3 | 215.7 | 251.8 | 255.5 | 222.8 | 178.1 | 214.5 | 60.5 | 893.9 | 870.9 | ||||||||||||||||||||||
Income Taxes | 53.6 | 74.4 | 32.4 | 76.9 | 66.6 | 63.7 | 21.3 | 48.3 | 16.2 | 237.3 | 199.9 | ||||||||||||||||||||||
Income Tax Rate | 27.2 | % | 32.4 | % | 15.0 | % | 30.5 | % | 26.1 | % | 28.6 | % | 12.0 | % | 22.5 | % | 26.8 | % | 26.5 | % | 23.0 | % | |||||||||||
Net Income | $ | 143.5 | $ | 154.9 | $ | 183.3 | $ | 174.9 | $ | 188.9 | $ | 159.1 | $ | 156.8 | $ | 166.2 | $ | 44.3 | $ | 656.6 | $ | 671.0 | |||||||||||
Earnings Per Share | $ | 3.50 | $ | 3.75 | $ | 4.46 | $ | 4.25 | $ | 4.56 | $ | 3.90 | $ | 3.99 | $ | 4.28 | $ | 1.13 | $ | 15.98 | $ | 16.73 | |||||||||||
Diluted Shares Outstanding (in thousands) | 41,000 | 41,300 | 41,100 | 41,200 | 41,400 | 40,829 | 39,300 | 38,800 | 39,100 | 41,100 | 40,100 | ||||||||||||||||||||||
Page 1 of 6
Intuitive Surgical, Inc. Trended Quarterly and Annual Condensed Income Statement and Other Metrics (in millions, except per share data) 2012 - 2014 | |||||||||||||||||||||||||||||||||
Q1'12 | Q2'12 | Q3'12 | Q4'12 | Q1'13 | Q2'13 | Q3'13 | Q4'13 | Q1'14 | FY12 | FY13 | |||||||||||||||||||||||
Reconciliation of Non-GAAP Financial Measures (1) | (2) | ||||||||||||||||||||||||||||||||
Net Income - GAAP | $ | 143.5 | $ | 154.9 | $ | 183.3 | $ | 174.9 | $ | 188.9 | $ | 159.1 | $ | 156.8 | $ | 166.2 | $ | 44.3 | $ | 656.6 | $ | 671.0 | |||||||||||
Amortization of intangible assets | 5.8 | 6.2 | 5.2 | 5.9 | 5.6 | 5.7 | 5.3 | 4.7 | 4.7 | 23.1 | 21.3 | ||||||||||||||||||||||
Income tax benefit | 2.1 | 2.2 | 1.9 | 2.2 | 2.0 | 2.1 | 1.9 | 1.7 | 1.7 | 8.4 | 7.7 | ||||||||||||||||||||||
Amortization of intangible assets, net | 3.7 | 4.0 | 3.3 | 3.7 | 3.6 | 3.6 | 3.4 | 3.0 | 3.0 | 14.7 | 13.6 | ||||||||||||||||||||||
Share-based compensation expense | 34.4 | 33.3 | 47.3 | 38.3 | 38.2 | 38.7 | 50.4 | 41.6 | 40.8 | 153.3 | 168.9 | ||||||||||||||||||||||
Income tax benefit | 11.0 | 10.1 | 14.9 | 11.5 | 12.2 | 12.4 | 16.5 | 17.4 | 13.0 | 47.5 | 58.5 | ||||||||||||||||||||||
Share-based compensation expense, net | 23.4 | 23.2 | 32.4 | 26.8 | 26.0 | 26.3 | 33.9 | 24.2 | 27.8 | 105.8 | 110.4 | ||||||||||||||||||||||
Non-GAAP Net Income | $ | 170.6 | $ | 182.1 | $ | 219.0 | $ | 205.4 | $ | 218.5 | $ | 189.0 | $ | 194.1 | $ | 193.4 | $ | 75.1 | $ | 777.1 | $ | 795.0 | |||||||||||
Non-GAAP Earnings Per Share | $ | 4.16 | $ | 4.41 | $ | 5.33 | $ | 4.99 | $ | 5.28 | $ | 4.63 | $ | 4.94 | $ | 4.98 | $ | 1.92 | $ | 18.91 | $ | 19.83 | |||||||||||
Other Metrics | |||||||||||||||||||||||||||||||||
Cash and Investments | $ | 2,371.0 | $ | 2,631.2 | $ | 2,701.1 | $ | 2,920.5 | $ | 3,116.0 | $ | 3,027.2 | $ | 2,532.3 | $ | 2,753.9 | $ | 2,963.6 | $ | 2,920.5 | $ | 2,753.9 | |||||||||||
Capital, IP, Business Acquisitions | $ | 48.3 | $ | 8.1 | $ | 29.7 | $ | 55.7 | $ | 16.7 | $ | 25.0 | $ | 34.0 | $ | 28.9 | $ | 20.6 | $ | 141.8 | $ | 104.6 | |||||||||||
Share Repurchases | $ | — | $ | 15.2 | $ | 169.8 | $ | 53.3 | $ | 145.7 | $ | 269.6 | $ | 693.9 | $ | — | $ | — | $ | 238.3 | $ | 1,109.2 | |||||||||||
Headcount | 2,018 | 2,100 | 2,192 | 2,362 | 2,480 | 2,683 | 2,774 | 2,792 | 2,739 | 2,362 | 2,792 | ||||||||||||||||||||||
(1) These pro-forma amounts are non-GAAP financial measures. We use these non-GAAP financial measures for financial and operational decision-making and as a means to evaluate period-to-period comparisons. Our management believes that these non-GAAP financial measures provide meaningful supplemental information regarding our performance and liquidity by excluding certain expenses and expenditures that may not be indicative of our recurring core business operating results. | |||||||||||||||||||||||||||||||||
(2) Excluding the impact of the revenue deferral of $25.6 million and the product liability litigation charge of $67.4 million, Q1'14 Non-GAAP Net Income and Non-GAAP Earnings Per Share would have been $135.2 million and $3.46, respectively. | |||||||||||||||||||||||||||||||||
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Intuitive Surgical, Inc. Trended Quarterly and Annual Procedures, Revenue and Related Metrics Total Company 2012 - 2014 | ||||||||||||||||||||||||||||||||||
Q1'12 | Q2'12 | Q3'12 | Q4'12 | Q1'13 | Q2'13 | Q3'13 | Q4'13 | Q1'14 | FY12 | FY13 | ||||||||||||||||||||||||
Revenue and Related Metrics | ||||||||||||||||||||||||||||||||||
Instruments and Accessories Revenue (millions) | $ | 207.8 | $ | 223.7 | $ | 218.0 | $ | 253.8 | $ | 261.1 | $ | 264.5 | $ | 239.1 | $ | 268.2 | $ | 254.8 | $ | 903.3 | $ | 1,032.9 | ||||||||||||
Year over year growth | 32 | % | 30 | % | 24 | % | 29 | % | 26 | % | 18 | % | 10 | % | 6 | % | (2 | )% | 29 | % | 14 | % | ||||||||||||
Quarter over quarter growth | 6 | % | 8 | % | (3 | )% | 16 | % | 3 | % | 1 | % | (10 | )% | 12 | % | (5 | )% | ||||||||||||||||
Year over year procedure growth | 29 | % | 26 | % | 22 | % | 25 | % | 18 | % | 18 | % | 16 | % | 12 | % | 7 | % | 25 | % | 16 | % | ||||||||||||
Quarter over quarter procedure growth | 5 | % | 6 | % | (1 | )% | 12 | % | — | % | 6 | % | (2 | )% | 8 | % | (5 | )% | ||||||||||||||||
Service Revenue (millions) | $ | 80.8 | $ | 83.4 | $ | 87.8 | $ | 90.6 | $ | 94.4 | $ | 98.1 | $ | 101.4 | $ | 103.4 | $ | 103.9 | $ | 342.6 | $ | 397.3 | ||||||||||||
Year over year growth | 27 | % | 23 | % | 22 | % | 20 | % | 17 | % | 18 | % | 15 | % | 14 | % | 10 | % | 23 | % | 16 | % | ||||||||||||
Quarter over quarter growth | 7 | % | 3 | % | 5 | % | 3 | % | 4 | % | 4 | % | 3 | % | 2 | % | — | % | ||||||||||||||||
Total Recurring Revenue (millions) | $ | 288.6 | $ | 307.1 | $ | 305.8 | $ | 344.4 | $ | 355.5 | $ | 362.6 | $ | 340.5 | $ | 371.6 | $ | 358.7 | $ | 1,245.9 | $ | 1,430.2 | ||||||||||||
Year over year growth | 31 | % | 28 | % | 24 | % | 27 | % | 23 | % | 18 | % | 11 | % | 8 | % | 1 | % | 27 | % | 15 | % | ||||||||||||
Quarter over quarter growth | 6 | % | 6 | % | — | % | 13 | % | 3 | % | 2 | % | (6 | )% | 9 | % | (3 | )% | ||||||||||||||||
% Recurring Revenue | 58 | % | 57 | % | 57 | % | 57 | % | 58 | % | 63 | % | 68 | % | 64 | % | 77 | % | 57 | % | 63 | % | ||||||||||||
Systems Revenue (millions) | $ | 206.6 | $ | 229.4 | $ | 232.0 | $ | 264.9 | $ | 255.9 | $ | 215.9 | $ | 158.5 | $ | 204.6 | $ | 106.0 | $ | 932.9 | $ | 834.9 | ||||||||||||
Year over year growth | 24 | % | 23 | % | 17 | % | 18 | % | 24 | % | (6 | )% | (32 | )% | (23 | )% | (59 | )% | 20 | % | (11 | )% | ||||||||||||
Quarter over quarter growth | (8 | )% | 11 | % | 1 | % | 14 | % | (3 | )% | (16 | )% | (27 | )% | 29 | % | (48 | )% | ||||||||||||||||
Total Revenue | $ | 495.2 | $ | 536.5 | $ | 537.8 | $ | 609.3 | $ | 611.4 | $ | 578.5 | $ | 499.0 | $ | 576.2 | $ | 464.7 | $ | 2,178.8 | $ | 2,265.1 | ||||||||||||
Year over year growth | 28 | % | 26 | % | 20 | % | 23 | % | 23 | % | 8 | % | (7 | )% | (5 | )% | (24 | )% | 24 | % | 4 | % | ||||||||||||
Quarter over quarter growth | — | % | 8 | % | — | % | 13 | % | — | % | (5 | )% | (14 | )% | 15 | % | (19 | )% | ||||||||||||||||
Installed System Base Rollforward | ||||||||||||||||||||||||||||||||||
Beginning Installed System Base | 2,132 | 2,226 | 2,341 | 2,462 | 2,585 | 2,710 | 2,799 | 2,871 | 2,966 | 2,132 | 2,585 | |||||||||||||||||||||||
Systems Shipped: | ||||||||||||||||||||||||||||||||||
S Systems | 8 | 8 | 16 | 8 | 2 | 3 | 1 | — | 1 | 40 | 6 | |||||||||||||||||||||||
Dual Consoles Si's | 25 | 28 | 20 | 32 | 48 | 27 | 32 | 38 | 23 | 105 | 145 | |||||||||||||||||||||||
Single Console Si's | 106 | 108 | 113 | 122 | 109 | 111 | 66 | 79 | 50 | 449 | 365 | |||||||||||||||||||||||
Si-e's | 1 | 6 | 6 | 13 | 5 | 2 | 2 | 21 | 13 | 26 | 30 | |||||||||||||||||||||||
Total System Units Shipped | 140 | 150 | 155 | 175 | 164 | 143 | 101 | 138 | 87 | 620 | 546 | |||||||||||||||||||||||
Trade-In's/Retirements | (46 | ) | (35 | ) | (34 | ) | (52 | ) | (39 | ) | (54 | ) | (29 | ) | (43 | ) | (14 | ) | (167 | ) | (165 | ) | ||||||||||||
Ending Installed System Base | 2,226 | 2,341 | 2,462 | 2,585 | 2,710 | 2,799 | 2,871 | 2,966 | 3,039 | 2,585 | 2,966 | |||||||||||||||||||||||
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Intuitive Surgical, Inc. Trended Quarterly and Annual Procedures, Revenue and Related Metrics United States 2012 - 2014 | ||||||||||||||||||||||||||||||||||
Q1'12 | Q2'12 | Q3'12 | Q4'12 | Q1'13 | Q2'13 | Q3'13 | Q4'13 | Q1'14 | FY12 | FY13 | ||||||||||||||||||||||||
Revenue and Related Metrics | ||||||||||||||||||||||||||||||||||
Instruments and Accessories Revenue (millions) | $ | 168.4 | $ | 185.6 | $ | 186.3 | $ | 213.1 | $ | 213.5 | $ | 218.1 | $ | 195.2 | $ | 218.1 | $ | 197.0 | $ | 753.4 | $ | 844.9 | ||||||||||||
Year over year growth | 34 | % | 33 | % | 27 | % | 30 | % | 27 | % | 18 | % | 5 | % | 2 | % | (8 | )% | 31 | % | 12 | % | ||||||||||||
Quarter over quarter growth | 3 | % | 10 | % | — | % | 14 | % | — | % | 2 | % | (10 | )% | 12 | % | (10 | )% | ||||||||||||||||
Year over year procedure growth | 28 | % | 27 | % | 23 | % | 26 | % | 20 | % | 17 | % | 14 | % | 10 | % | 3 | % | 26 | % | 15 | % | ||||||||||||
Quarter over quarter procedure growth | 3 | % | 8 | % | 1 | % | 12 | % | (2 | )% | 6 | % | (1 | )% | 8 | % | (8 | )% | ||||||||||||||||
Service Revenue (millions) | $ | 63.1 | $ | 65.3 | $ | 69.0 | $ | 71.5 | $ | 74.3 | $ | 77.1 | $ | 78.9 | $ | 79.0 | $ | 78.8 | $ | 268.9 | $ | 309.3 | ||||||||||||
Year over year growth | 25 | % | 22 | % | 21 | % | 20 | % | 18 | % | 18 | % | 14 | % | 10 | % | 6 | % | 22 | % | 15 | % | ||||||||||||
Quarter over quarter growth | 6 | % | 3 | % | 6 | % | 4 | % | 4 | % | 4 | % | 2 | % | — | % | — | % | ||||||||||||||||
Total Recurring Revenue (millions) | $ | 231.5 | $ | 250.9 | $ | 255.3 | $ | 284.6 | $ | 287.8 | $ | 295.2 | $ | 274.1 | $ | 297.1 | $ | 275.8 | $ | 1,022.3 | $ | 1,154.2 | ||||||||||||
Year over year growth | 31 | % | 30 | % | 25 | % | 27 | % | 24 | % | 18 | % | 7 | % | 4 | % | (4 | )% | 28 | % | 13 | % | ||||||||||||
Quarter over quarter growth | 4 | % | 8 | % | 2 | % | 11 | % | 1 | % | 3 | % | (7 | )% | 8 | % | (7 | )% | ||||||||||||||||
% Recurring Revenue | 59 | % | 58 | % | 60 | % | 60 | % | 63 | % | 70 | % | 75 | % | 78 | % | 89 | % | 59 | % | 71 | % | ||||||||||||
Systems Revenue (millions) | $ | 159.2 | $ | 184.4 | $ | 167.3 | $ | 193.7 | $ | 170.3 | $ | 125.3 | $ | 92.0 | $ | 84.1 | $ | 33.7 | $ | 704.6 | $ | 471.7 | ||||||||||||
Year over year growth | 32 | % | 27 | % | 13 | % | 16 | % | 7 | % | (32 | )% | (45 | )% | (57 | )% | (80 | )% | 21 | % | (33 | )% | ||||||||||||
Quarter over quarter growth | (5 | )% | 16 | % | (9 | )% | 16 | % | (12 | )% | (26 | )% | (27 | )% | (9 | )% | (60 | )% | ||||||||||||||||
Total Revenue | $ | 390.7 | $ | 435.3 | $ | 422.6 | $ | 478.3 | $ | 458.1 | $ | 420.5 | $ | 366.1 | $ | 381.2 | $ | 309.5 | $ | 1,726.9 | $ | 1,625.9 | ||||||||||||
Year over year growth | 31 | % | 28 | % | 20 | % | 23 | % | 17 | % | (3 | )% | (13 | )% | (20 | )% | (32 | )% | 25 | % | (6 | )% | ||||||||||||
Quarter over quarter growth | — | % | 11 | % | (3 | )% | 13 | % | (4 | )% | (8 | )% | (13 | )% | 4 | % | (19 | )% | ||||||||||||||||
Installed System Base Rollforward | ||||||||||||||||||||||||||||||||||
Beginning Installed System Base | 1,548 | 1,615 | 1,707 | 1,789 | 1,878 | 1,957 | 2,001 | 2,042 | 2,083 | 1,548 | 1,878 | |||||||||||||||||||||||
Systems Shipped: | ||||||||||||||||||||||||||||||||||
S Systems | — | — | — | — | — | — | — | — | — | — | — | |||||||||||||||||||||||
Dual Consoles Si's | 21 | 23 | 16 | 22 | 26 | 12 | 16 | 10 | 8 | 82 | 64 | |||||||||||||||||||||||
Single Console Si's | 83 | 96 | 92 | 99 | 86 | 76 | 48 | 42 | 25 | 370 | 252 | |||||||||||||||||||||||
Si-e's | 1 | 5 | 6 | 12 | 3 | 2 | 2 | 20 | 12 | 24 | 27 | |||||||||||||||||||||||
Total System Units Shipped | 105 | 124 | 114 | 133 | 115 | 90 | 66 | 72 | 45 | 476 | 343 | |||||||||||||||||||||||
Trade-In's/Retirements | (38 | ) | (32 | ) | (32 | ) | (44 | ) | (36 | ) | (46 | ) | (25 | ) | (31 | ) | (12 | ) | (146 | ) | (138 | ) | ||||||||||||
Ending Installed System Base | 1,615 | 1,707 | 1,789 | 1,878 | 1,957 | 2,001 | 2,042 | 2,083 | 2,116 | 1,878 | 2,083 | |||||||||||||||||||||||
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Intuitive Surgical, Inc. Trended Quarterly and Annual Procedures, Revenue and Related Metrics International 2012 - 2014 | ||||||||||||||||||||||||||||||||||
Q1'12 | Q2'12 | Q3'12 | Q4'12 | Q1'13 | Q2'13 | Q3'13 | Q4'13 | Q1'14 | FY12 | FY13 | ||||||||||||||||||||||||
Revenue and Related Metrics | ||||||||||||||||||||||||||||||||||
Instruments and Accessories Revenue (millions) | $ | 39.4 | $ | 38.1 | $ | 31.7 | $ | 40.7 | $ | 47.6 | $ | 46.4 | $ | 43.9 | $ | 50.1 | $ | 57.8 | $ | 149.9 | $ | 188.0 | ||||||||||||
Year over year growth | 24 | % | 21 | % | 9 | % | 26 | % | 21 | % | 22 | % | 38 | % | 23 | % | 21 | % | 20 | % | 25 | % | ||||||||||||
Quarter over quarter growth | 22 | % | (3 | )% | (17 | )% | 28 | % | 17 | % | (3 | )% | (5 | )% | 14 | % | 15 | % | ||||||||||||||||
Year over year procedure growth | 31 | % | 21 | % | 20 | % | 21 | % | 14 | % | 22 | % | 25 | % | 23 | % | 24 | % | 23 | % | 21 | % | ||||||||||||
Quarter over quarter procedure growth | 16 | % | (1 | )% | (8 | )% | 15 | % | 10 | % | 6 | % | (6 | )% | 13 | % | 11 | % | ||||||||||||||||
Service Revenue (millions) | $ | 17.7 | $ | 18.1 | $ | 18.8 | $ | 19.1 | $ | 20.1 | $ | 21.0 | $ | 22.5 | $ | 24.4 | $ | 25.1 | $ | 73.7 | $ | 88.0 | ||||||||||||
Year over year growth | 36 | % | 30 | % | 27 | % | 19 | % | 14 | % | 16 | % | 20 | % | 28 | % | 25 | % | 28 | % | 19 | % | ||||||||||||
Quarter over quarter growth | 11 | % | 2 | % | 4 | % | 2 | % | 5 | % | 4 | % | 7 | % | 8 | % | 3 | % | ||||||||||||||||
Total Recurring Revenue (Millions) | $ | 57.1 | $ | 56.2 | $ | 50.5 | $ | 59.8 | $ | 67.7 | $ | 67.4 | $ | 66.4 | $ | 74.5 | $ | 82.9 | $ | 223.6 | $ | 276.0 | ||||||||||||
Year over year growth | 28 | % | 24 | % | 15 | % | 24 | % | 19 | % | 20 | % | 31 | % | 25 | % | 22 | % | 23 | % | 23 | % | ||||||||||||
Quarter over quarter growth | 18 | % | (2 | )% | (10 | )% | 18 | % | 13 | % | — | % | (1 | )% | 12 | % | 11 | % | ||||||||||||||||
% Recurring Revenue | 55 | % | 56 | % | 44 | % | 46 | % | 44 | % | 43 | % | 50 | % | 38 | % | 53 | % | 49 | % | 43 | % | ||||||||||||
Systems Revenue (millions) | $ | 47.4 | $ | 45.0 | $ | 64.7 | $ | 71.2 | $ | 85.6 | $ | 90.6 | $ | 66.5 | $ | 120.5 | $ | 72.3 | $ | 228.3 | $ | 363.2 | ||||||||||||
Year over year growth | 3 | % | 9 | % | 28 | % | 23 | % | 81 | % | 101 | % | 3 | % | 69 | % | (16 | )% | 16 | % | 59 | % | ||||||||||||
Quarter over quarter growth | (18 | )% | (5 | )% | 44 | % | 10 | % | 20 | % | 6 | % | (27 | )% | 81 | % | (40 | )% | ||||||||||||||||
Total Revenue | $ | 104.5 | $ | 101.2 | $ | 115.2 | $ | 131.0 | $ | 153.3 | $ | 158.0 | $ | 132.9 | $ | 195.0 | $ | 155.2 | $ | 451.9 | $ | 639.2 | ||||||||||||
Year over year growth | 15 | % | 17 | % | 22 | % | 23 | % | 47 | % | 56 | % | 15 | % | 49 | % | 1 | % | 19 | % | 41 | % | ||||||||||||
Quarter over quarter growth | (2 | )% | (3 | )% | 14 | % | 14 | % | 17 | % | 3 | % | (16 | )% | 47 | % | (20 | )% | ||||||||||||||||
Installed System Base Rollforward | ||||||||||||||||||||||||||||||||||
Beginning Installed System Base | 584 | 611 | 634 | 673 | 707 | 753 | 798 | 829 | 883 | 584 | 707 | |||||||||||||||||||||||
Systems Shipped: | ||||||||||||||||||||||||||||||||||
S Systems | 8 | 8 | 16 | 8 | 2 | 3 | 1 | — | 1 | 40 | 6 | |||||||||||||||||||||||
Dual Consoles Si's | 4 | 5 | 4 | 10 | 22 | 15 | 16 | 28 | 15 | 23 | 81 | |||||||||||||||||||||||
Single Console Si's | 23 | 12 | 21 | 23 | 23 | 35 | 18 | 37 | 25 | 79 | 113 | |||||||||||||||||||||||
Si-e's | — | 1 | — | 1 | 2 | — | — | 1 | 1 | 2 | 3 | |||||||||||||||||||||||
Total System Units Shipped | 35 | 26 | 41 | 42 | 49 | 53 | 35 | 66 | 42 | 144 | 203 | |||||||||||||||||||||||
Trade-In's/Retirements | (8 | ) | (3 | ) | (2 | ) | (8 | ) | (3 | ) | (8 | ) | (4 | ) | (12 | ) | (2 | ) | (21 | ) | (27 | ) | ||||||||||||
Ending Installed System Base | 611 | 634 | 673 | 707 | 753 | 798 | 829 | 883 | 923 | 707 | 883 | |||||||||||||||||||||||
Page 5 of 6
# # #
This information is supplemental to the first quarter 2014 earnings press release issued by Intuitive Surgical, Inc. on April 22, 2014 and should be read in conjunction with that release and the Company’s Quarterly Report on Form 10-Q for the quarter ended March 31, 2014 when filed with the U.S. Securities and Exchange Commission.
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