Masimo (NSDQ:MASI) stock is up about 5% in value today after the Irvine, Calif.– based maker of noninvasive patient monitoring technologies and sensors reported fourth-quarter results that beat analyst expectations.
Masimo reported yesterday evening that it earned $46.9 million, or 83 cents per share, off $223.1 million in revenue for the quarter ended Dec. 29. Masimo lost $7.7 million, or 15 cents per share, off $207.9 million in revenue for the same quarter a year ago.
Analysts polled by Yahoo! Finance predicted fourth-quarter earnings of 73 cents per share off $219.96 million in revenue.
Masimo CEO Joe Kiani described 2018 as a dynamic year for the company, with strong business momentum.
“Our global organization executed on our strategy to deliver above-market growth and drive operational efficiencies throughout the business,” Kiani said in a news release.
Masimo earned $193.5 million, or $3.45 per share, off $858.3 million in revenue in 2018, up from earnings of $124.8 million, or $2.23 per share, off $790.2 million in revenue in 2017.
Said Kiani: “Due to the strong finish in 2018, we are now increasing our 2019 product revenue guidance to $912 million and our 2019 non-GAAP earnings per diluted share guidance to $3.08.”
Masimo’s stock is up $6.28 per share, or 4.9%, to $134.21 as of midday trading.
