Masimo (NSDQ:MASI) this week posted third-quarter results that beat the overall consensus forecast on Wall Street.
The Irvine, California-based monitoring technology company reported profits of $57.8 million, or $1.00 per share, on sales of $307.4 million, for the three months ended October 2, for a bottom-line gain of 17% on sales growth of 10.5% compared with Q3 2020.
Adjusted to exclude one-time items, earnings per share were 94¢, 3¢ ahead of The Street, where analysts were looking for sales of $295.8 million.
“In the wake of the pandemic and its ongoing challenges, we have continued to demonstrate the commitment and responsiveness required to meet the needs of clinicians and patients around the world. We are happy to report double-digit revenue growth and EPS growth that exceeded expectations for the third quarter,” CEO Joe Kiani said.
Masimo adjusted its full-year revenue estimates from $1.216 billion to $1.230 billion.
Shares in MASI were down -0.16% to $288.54 apiece at market open.