Biotech Values

[DewDiligence]

ISRG: I proved that the sequential procedure number growth was 11.2% ... which is 53.1% annualized.

You did? I could’ve sworn you used an array of assumptions to arrive at an estimate of 11.2% QoQ procedure growth. That’s not exactly what I would call proof.

I’ll ask this one last time because it may be getting repetitious: If the procedure count grew 11.2% quarter-over-quarter and investors should construe such a growth rate as bullish, why wouldn’t ISRG management simply disclose the actual figure? The non-disclosure can’t be a mater of policy because ISRG did in fact disclose the 1Q09 procedure count. Moreover, the non-disclosure has nothing whatsoever to do with management’s “conservative” nature insofar as we’re talking about past rather than future performance data.