10-K.Info (Beta Test) Courtesy of Short Sands, LLC | ||||||||||||||
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10-K.Info (Beta Test) Courtesy of Short Sands, LLC | |||
INTUITIVE SURGICAL INC | |||
Ticker: ISRG Fiscal Year: 2010 | |||
CONSOLIDATED STATEMENTS OF INCOME | |||
Period Ending Dec 31, 2010 10-K (Filed: Feb 1, 2011) | |||
| (In Thousands) | |||
| 12 Months Ended | 12 Months Ended | 12 Months Ended | |
| Dec 31, 2010 | Dec 31, 2009 | Dec 31, 2008 | |
| Revenue: | |||
| Product | $ 1,189,100 | 879,900 | 748,300 |
| Service | 223,900 | 172,300 | 126,600 |
| Total revenue | 1,413,000 | 1,052,200 | 874,900 |
| Cost of revenue: | |||
| Product | 297,300 | 237,600 | 200,100 |
| Service | 85,700 | 63,500 | 54,000 |
| Total cost of revenue | 383,000 | 301,100 | 254,100 |
| Gross profit | 1,030,000 | 751,100 | 620,800 |
| Operating expenses: | |||
| Selling, general and administrative | 358,800 | 278,600 | 230,600 |
| Research and development | 116,000 | 95,100 | 79,400 |
| Total operating expenses | 474,800 | 373,700 | 310,000 |
| Income from operations | 555,200 | 377,400 | 310,800 |
| Interest and other income, net | 17,100 | 18,700 | 24,400 |
| Income before income taxes | 572,300 | 396,100 | 335,200 |
| Income tax expense | 190,500 | 163,500 | 130,900 |
| Net income | 381,800 | 232,600 | 204,300 |
| Net income per common share: | |||
| Basic | 9.74 | 6.07 | 5.26 |
| Diluted | 9.47 | 5.93 | 5.12 |
| Shares used in computing basic and diluted net income per common share: | |||
| Basic | 39,200 | 38,300 | 38,900 |
| Diluted | 40,300 | 39,200 | 39,900 |
10-K.Info (Beta Test) Courtesy of Short Sands, LLC | |||
INTUITIVE SURGICAL INC | |||
Ticker: ISRG Fiscal Year: 2010 | |||
CONSOLIDATED STATEMENTS OF CASH FLOWS | |||
Period Ending Dec 31, 2010 10-K (Filed: Feb 1, 2011) | |||
| (In Thousands, except shares in actual) | |||
| 12 Months Ended | 12 Months Ended | 12 Months Ended | |
| Dec 31, 2010 | Dec 31, 2009 | Dec 31, 2008 | |
| Operating activities: | |||
| Net income | $ 381,800 | 232,600 | 204,300 |
| Adjustments to reconcile net income to net cash provided by operating activities: | |||
| Depreciation | 23,700 | 19,000 | 14,600 |
| Amortization of intangible assets | 16,700 | 15,600 | 10,500 |
| Deferred income taxes | (21,500) | (15,600) | (20,600) |
| Share-based compensation expense of stock options and employee stock purchases | 117,600 | 97,000 | 76,600 |
| Excess tax benefit from stock-based compensation | (65,200) | (25,100) | (53,300) |
| Income tax benefits related to stock option exercises | 57,900 | 23,600 | 55,900 |
| Changes in operating assets and liabilities: | |||
| Accounts receivable | (41,500) | (35,300) | (39,700) |
| Inventory | (29,200) | 5,900 | (31,100) |
| Prepaids and other assets | 1,100 | (6,300) | 4,000 |
| Accounts payable | 8,100 | 7,000 | (9,200) |
| Accrued compensation and employee benefits | 13,800 | 12,800 | 6,900 |
| Deferred revenue | 26,500 | 21,300 | 24,600 |
| Other accrued liabilities | 38,200 | 32,600 | 34,700 |
| Net cash provided by operating activities | 528,000 | 385,100 | 278,200 |
| Investing activities: | |||
| Purchase of investments | (1,385,400) | (764,500) | (732,700) |
| Proceeds from sales and maturities of investments | 1,004,900 | 525,500 | 534,200 |
| Purchase of property and equipment and acquisition of intellectual property | (96,000) | (53,400) | (106,000) |
| Net cash used in investing activities | (476,500) | (292,400) | (304,500) |
| Financing activities: | |||
| Proceeds from issuance of common stock, net | 141,100 | 58,700 | 44,700 |
| Excess tax benefit from stock-based compensation | 65,200 | 25,100 | 53,300 |
| Repurchase and retirement of common stock | (198,600) | (150,000) | 0 |
| Net cash (used in) provided by financing activities | 7,700 | (66,200) | 98,000 |
| Effect of exchange rate changes on cash and cash equivalents | (800) | 300 | 100 |
| Net increase in cash and cash equivalents | 58,400 | 26,800 | 71,800 |
| Cash and cash equivalents, beginning of year | 221,400 | 194,600 | |
| Cash and cash equivalents, end of year | 279,800 | 221,400 | 194,600 |
| Supplemental cash flow information: | |||
| Income taxes paid | 124,400 | 129,100 | 61,500 |
10-K.Info (Beta Test) Courtesy of Short Sands, LLC | ||
INTUITIVE SURGICAL INC | ||
Ticker: ISRG Fiscal Year: 2010 | ||
CONSOLIDATED BALANCE SHEETS | ||
Period Ending Dec 31, 2010 10-K (Filed: Feb 1, 2011) | ||
| (In Thousands, except shares in actual) | ||
| As of | As of | |
| Dec 31, 2010 | Dec 31, 2009 | |
| ASSETS | ||
| Cash and cash equivalents | $ 279,800 | 221,400 |
| Short-term investments | 630,600 | 334,000 |
| Accounts receivable, net of allowances of $4.8 and $4.3 at December 31, 2010 and 2009, respectively | 246,800 | 205,400 |
| Inventory | 86,800 | 57,600 |
| Prepaids and other assets | 23,300 | 21,400 |
| Deferred tax assets | 8,500 | 7,300 |
| Total current assets | 1,275,800 | 847,100 |
| Property, plant and equipment, net | 159,800 | 125,700 |
| Long-term investments | 698,500 | 616,600 |
| Long-term deferred tax asset | 73,300 | 53,400 |
| Intangible assets, net | 66,100 | 56,200 |
| Goodwill | 116,900 | 110,700 |
| Total assets | 2,390,400 | 1,809,700 |
| LIABILITIES AND STOCKHOLDERS' EQUITY | ||
| Accounts payable | 35,600 | 27,600 |
| Accrued compensation and employee benefits | 63,400 | 49,800 |
| Deferred revenue | 126,100 | 99,400 |
| Other accrued liabilities | 48,700 | 26,000 |
| Total current liabilities | 273,800 | 202,800 |
| Other long-term liabilities | 79,200 | 69,600 |
| Total liabilities | 353,000 | 272,400 |
| Commitments and contingencies (Note 7) | ||
| Stockholders' equity: | ||
| Preferred stock, 2.5 shares authorized, $0.001 par value, issuable in series; no shares issued and outstanding as of December 31, 2010 and 2009, respectively | 0 | 0 |
| Common stock, 100.0 shares authorized, $0.001 par value, 38.9 and 38.5 shares issued and outstanding as of December 31, 2010 and 2009, respectively | 0 | 0 |
| Additional paid-in capital | 1,316,900 | 1,024,300 |
| Retained earnings | 718,900 | 511,700 |
| Accumulated other comprehensive income | 1,600 | 1,300 |
| Total stockholders' equity | 2,037,400 | 1,537,300 |
| Total liabilities and stockholders' equity | 2,390,400 | 1,809,700 |
| External Links | |
| INTUITIVE SURGICAL INC (ISRG) Fiscal Year 2010 | |
| Statements of 10-K in Excel | https://www.sec.gov/.../Financial.xlxs |
| Complete 10-K in HTML | https://www.sec.gov/.../10-K.html |
| Complete 10-K in XBRL | https://www.sec.gov/.../10-K-xbrl.zip |