The Irvine, Calif.–based maker of noninvasive patient monitoring technologies and sensors reported profits of $70.7 million, or $1.21 per share, on sales of $295.1 million for the three months ended Jan. 2, 2021, boosting the bottom line by a third and the top line by 19.2% compared with Q4 2019.
Adjusted to exclude one-time items, earnings per share were 98¢, 12¢ ahead of the Street, where analysts were looking EPS of 86¢ on sales of $287.45 million.
Masimo over the past year has been an important provider of pulse oximeters and other monitoring equipment that health providers and people in general needed to navigate the COVID-19 pandemic.
“Throughout 2020, as our customers on the front lines responded to this crisis and rose to the challenge, so did our team. We have invested heavily in innovation and product supply efforts to deliver clinically relevant solutions that improve patient outcomes and reduce the cost of care,” Masimo CEO Joe Kiani said in a news release.
Masimo is predicting non-GAAP earnings per share of $3.80 based on $1.2 billion in sales in 2021 — a 4.9% increase in sales. Wall Street analysts on average have been predicting EPS of $3.84 from $1.19 billion in revenue this year.
Investors reacted by sending MASI shares down –0.9% to $248.22 apiece in after-hours trading.
Also today, Masimo announced the U.S. launch of its softFlow, a pulmonary care therapy that provides nasal high-flow warmed and humidified respiratory gases to spontaneously breathing patients.