Complete first quarter 2020 financial results
will be announced on Tuesday, April 28, 2020.
Masimo Corporation (Nasdaq: MASI) today announced a preliminary
product revenue range for the first quarter ended March 28, 2020,
and provided a business update regarding the impact of the
Coronavirus (COVID-19) on the Company’s full-year 2020 outlook.
Masimo expects that its product revenue for the first quarter
2020 will range from $265 million to $271 million, which reflects
reported growth of 14.9% to 17.5% over the first quarter of
2019.
The preliminary financial information presented in this press
release is based on Masimo’s current expectations and may be
adjusted as a result of, among other things, completion of
customary quarterly review procedures. Management plans to discuss
Masimo’s complete first quarter 2020 financial results after the
market closes on Tuesday, April 28, 2020.
Given the uncertainties around the COVID-19 pandemic and its
potential positive and potential negative impacts on our business,
we are no longer offering guidance for 2020. The potential positive
impacts include increased demand for our products from both direct
and OEM customers, which has continued into the first days of the
second quarter. The potential negative impacts include potential
interruptions in our manufacturing operations and our suppliers’
manufacturing operations, and potential reductions in future demand
if there has been overbuying of our products due to the
pandemic.
First Quarter 2020 Financial Results Conference Call on
Tuesday, April 28, 2020
The conference call to review Masimo’s complete financial
results for the first quarter ended March 28, 2020 will begin at
1:30 p.m. PT (4:30 p.m. ET) on April 28, 2020 and will be hosted by
Joe Kiani, Chairman and Chief Executive Officer, and Micah Young,
Executive Vice President and Chief Financial Officer. A live
webcast of the conference call will be available online from the
investor relations page of the Company’s corporate website at
www.masimo.com.
The dial-in numbers are (833) 227-5837 for domestic callers and
+1 (825) 312-2251 for international callers. The reservation code
for both dial-in numbers is 9649388. After the live webcast, the
call will be available on Masimo’s website through May 26, 2020. In
addition, a telephonic replay of the call will be available through
May 12, 2020. The replay dial-in numbers are (800) 585-8367 for
domestic callers and +1 (416) 621-4642 for international callers.
Please use reservation code 9649388.
About Masimo
Masimo (Nasdaq: MASI) is a global medical technology company
that develops and produces a wide array of industry-leading
monitoring technologies, including innovative measurements,
sensors, patient monitors, and automation and connectivity
solutions. Our mission is to improve patient outcomes and reduce
the cost of care. Masimo SET® Measure-through Motion and Low
Perfusion™ pulse oximetry, introduced in 1995, has been shown in
over 100 independent and objective studies to outperform other
pulse oximetry technologies. Masimo SET® has also been shown to
help clinicians reduce severe retinopathy of prematurity in
neonates, improve CCHD screening in newborns, and, when used for
continuous monitoring with Masimo Patient SafetyNet™ in
post-surgical wards, reduce rapid response team activations, ICU
transfers, and costs. Masimo SET® is estimated to be used on more
than 100 million patients in leading hospitals and other healthcare
settings around the world, and is the primary pulse oximetry at 9
of the top 10 hospitals listed in the 2018-19 U.S. News and World
Report Best Hospitals Honor Roll. Masimo continues to refine SET®
and in 2018, announced that SpO2 accuracy on RD SET™ sensors during
conditions of motion has been significantly improved, providing
clinicians with even greater confidence that the SpO2 values they
rely on accurately reflect a patient’s physiological status. In
2005, Masimo introduced rainbow® Pulse CO-Oximetry technology,
allowing noninvasive and continuous monitoring of blood
constituents that previously could only be measured invasively,
including total hemoglobin (SpHb®), oxygen content (SpOC™),
carboxyhemoglobin (SpCO®), methemoglobin (SpMet®), Pleth
Variability Index (PVi®), RPVi™ (rainbow® PVi), and Oxygen Reserve
Index (ORi™). In 2013, Masimo introduced the Root® Patient
Monitoring and Connectivity Platform, built from the ground up to
be as flexible and expandable as possible to facilitate the
addition of other Masimo and third-party monitoring technologies;
key Masimo additions include Next Generation SedLine® Brain
Function Monitoring, O3® Regional Oximetry, and ISA™ Capnography
with NomoLine® sampling lines. Masimo’s family of continuous and
spot-check monitoring Pulse CO-Oximeters® includes devices designed
for use in a variety of clinical and non-clinical scenarios,
including tetherless, wearable technology, such as Radius-7® and
Radius PPG™, portable devices like Rad-67™, fingertip pulse
oximeters like MightySat® Rx, and devices available for use both in
the hospital and at home, such as Rad-97™. Masimo hospital
automation and connectivity solutions are centered around the Iris®
platform, and include Iris Gateway™, Patient SafetyNet, Replica™,
Halo ION™, UniView™, and Doctella™. Additional information about
Masimo and its products may be found at www.masimo.com. Published
clinical studies on Masimo products can be found at
www.masimo.com/evidence/featured-studies/feature/.
Forward-Looking Statements
All statements other than statements of historical facts
included in this press release that address activities, events or
developments that we expect, believe or anticipate will or may
occur in the future are forward-looking statements including, in
particular, the statements about our expectations for first quarter
2020 product revenues and our full fiscal year 2020 guidance;
statements regarding the impact of COVID-19 on our business and
prospects, including potential interruptions in our manufacturing
operations and our suppliers’ manufacturing operations, and
statements regarding demand for our products. These forward-looking
statements are based on management’s current expectations and
beliefs and are subject to uncertainties and factors, all of which
are difficult to predict and many of which are beyond our control
and could cause actual results to differ materially and adversely
from those described in the forward-looking statements. These risks
include, but are not limited to, those related to: risks related to
the completion of the customary quarterly financial statement
review procedures; risks related to global economic and marketplace
uncertainties related to the COVID-19 pandemic; our dependence on
Masimo SET® and Masimo rainbow SET™ products and technologies for
substantially all of our revenue; any failure in protecting our
intellectual property exposure to competitors’ assertions of
intellectual property claims; the highly competitive nature of the
markets in which we sell our products and technologies; any failure
to continue developing innovative products and technologies; the
lack of acceptance of any of our current or future products and
technologies; obtaining regulatory approval of our current and
future products and technologies; the risk that the implementation
of our international realignment will not continue to produce
anticipated operational and financial benefits, including a
continued lower effective tax rate; the loss of our customers; the
failure to retain and recruit senior management; product liability
claims exposure; a failure to obtain expected returns from the
amount of intangible assets we have recorded; the maintenance of
our brand; the amount and type of equity awards that we may grant
to employees and service providers in the future; our ongoing
litigation and related matters; and other factors discussed in the
“Risk Factors” section of our most recent periodic reports filed
with the Securities and Exchange Commission (“SEC”), including our
most recent Form 10-K, all of which you may obtain for free on the
SEC’s website at www.sec.gov. Although we believe that the
expectations reflected in our forward-looking statements are
reasonable, we do not know whether our expectations will prove
correct. You are cautioned not to place undue reliance on these
forward-looking statements, which speak only as of the date hereof,
even if subsequently made available by us on our website or
otherwise. We do not undertake any obligation to update, amend or
clarify these forward-looking statements, whether as a result of
new information, future events or otherwise, except as may be
required under applicable securities laws.
Masimo, SET, Signal Extraction Technology, Improving Patient
Outcome and Reducing Cost of Care... by Taking Noninvasive
Monitoring to New Sites and Applications, rainbow, SpHb, SpOC,
SpCO, SpMet, PVI and ORI are trademarks or registered trademarks of
Masimo Corporation.
View source
version on businesswire.com: https://www.businesswire.com/news/home/20200401005237/en/
Investor Contact: Eli Kammerman (949) 297-7077
ekammerman@masimo.com
Media Contact: Evan Lamb (949) 297-3376
elamb@masimo.com
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