Masimo (NSDQ:MASI) today posted second quarter earnings that beat expectations on Wall Street and raised its guidance for the remaining fiscal year.
The Irvine, Calif.-based company posted profits of $43.8 million, or 79¢ per share, on sales of $211.6 million for the three months ended June 30, seeing the bottom line shrink 2.8% while sales grew 10% compared with the same period last year.
Adjusted to exclude one-time items, earnings per share were 73¢, ahead of the 71¢ consensus on The Street, where analysts were looking for sales of $207.9 million, which the company topped.
“Our second quarter results reflect the broad-based success we are realizing for our innovative technologies and systems solutions to optimize patient care. We had a record quarter for shipments of our technology boards and monitors, at 58,700, a clear illustration of the rising demand for our high-value products. We are once again raising guidance for revenue and earnings in 2018 as we continue to grow our customer base and expand our product portfolio,” chair & CEO Joe Kiani said in a press release.
Masimo lifted its guidance for the fiscal year 2018, now expecting to post sales of $822 million, reflecting reported growth of 11.3%. The company also lifted its GAAP EPS guidance from $2.90 to $3.07.
Shares in Masimo closed up 0.6% today at $100.06.
In May, Masimo raised its outlook for the rest of the year after posting first-quarter results that beat both sales and earnings forecasts, despite lower profits.
