Complete third quarter 2020 financial results
will be announced on Tuesday, October 27, 2020
- Preliminary third quarter 2020 product revenue ranging from
$274 million to $278 million
- Full-year guidance for 2020 product revenue ranging from $1,124
million to $1,128 million
Masimo Corporation (Nasdaq: MASI) today
announced select preliminary financial results for the third
quarter ended September 26, 2020, and provided select financial
estimates for its full-year 2020 guidance.
Masimo expects its product revenue for the third quarter 2020
will range from $274 million to $278 million, which reflects
reported growth of approximately 19.7% to 21.4% over the third
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 quarter-end close review procedures and further financial
review. Management plans to discuss Masimo’s complete third quarter
2020 financial results after the market closes on Tuesday, October
27, 2020.
Full-Year 2020 Financial
Guidance:
Masimo expects that its product revenue for the full-year 2020
will range from $1,124 million to $1,128 million, which reflects
reported growth of approximately 20.0% to 20.5% over the full-year
of 2019. Masimo plans to announce additional details regarding its
full-year 2020 earnings guidance during the third quarter
conference call on Tuesday, October 27, 2020.
Third Quarter 2020 Financial Results Conference Call on
Tuesday, October 27, 2020
The conference call to review Masimo’s complete financial
results for the third quarter ended September 26, 2020 will begin
at 1:30 p.m. PT (4:30 p.m. ET) on October 27, 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.
To register for the conference call and receive the dial-in
number, please use the link below. Upon registering, each
participant will be provided with call details and a registrant ID
number. Reminders about the call will also be sent to registered
participants via email.
Conference Call Registration Link:
http://www.directeventreg.com/registration/event/4925989
A replay of the webcast and conference call will be available
shortly after the conclusion of the call and will be archived on
the Company’s website.
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 200 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 2019-20 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 Masimo SafetyNet™. 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 third quarter
2020 product revenue and shipments of noninvasive technology board
and instruments and full-year 2020 financial guidance; our
long-term outlook; demand for our products; anticipated revenue and
earnings growth; our financial condition, results of operations and
business generally; and demand for our technologies. 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; 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; risks
related to global economic and marketplace uncertainties related to
the impact of the COVID-19 pandemic; 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 and Form 10-Q, 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/20201006006085/en/
Investor Contact: Eli Kammerman (949) 297-7077
ekammerman@masimo.com
Media Contact: Evan Lamb (949) 396-3376
elamb@masimo.com
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