Masimo (Nasdaq: MASI) posted second-quarter results today that beat the consensus forecast on Wall Street.

The Irvine, California-based patient monitoring tech company reported profits of $18.1 million, or $0.33 per diluted share, on sales of $565.3 million for the three months ended July 2, 2022, for a bottom-line decrease of 64% and sales growth of 85.3% compared with Q2 2021.

Adjusted to exclude one-time items, earnings per share were $1.35, $0.15 ahead of the Street, where analysts were looking for EPS of $1.20 on sales of $540.6 million.

“Our healthcare business fulfilled most of the delayed shipments from the first quarter by increasing manufacturing output, which boosted our growth in the second quarter. As a result, our healthcare business delivered 11% constant currency revenue growth for the first half of the year,” Masimo CEO and Chair Joe Kiani said in a news release.

Masimo said it expects to log adjusted EPS of $4.34 to $4.57 this year, down from prior guidance of $4.46 to $4.73. The company also decreased its top-line outlook to a range of $1.99 billion to $2.05 billion compared with a range of $2 billion to $2.06 billion previously.

“We are raising our financial guidance on a constant currency basis for fiscal year 2022,” Kiani said. “I’m excited about the expanded potential to address new markets with our recently acquired consumer business, which will advance solutions for our customers at hospitals and at home.”

Marie Thibault and Sam Eiber of BTIG, in a note after Masimo’s earnings call, said the company’s W1 biosensing watch is in limited release and is set to enter a full launch in Q3. There is also an expected 2023 launch of another watch, called Freedom, that is meant to be more consumer-facing. “We continue to expect added investments in product development and marketing will be needed before MASI can report significant revenue contribution from the new consumer health products.”

MASI shares were down slightly in after-hours trading.