U.S. Markets closed

Masimo: 2Q Earnings Snapshot

IRVINE, Calif. (AP) _ Masimo Corp. (MASI) on Wednesday reported second-quarter earnings of $44.9 million.

On a per-share basis, the Irvine, California-based company said it had net income of 79 cents. Earnings, adjusted for one-time gains and costs, were 76 cents per share.

The results topped Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was for earnings of 73 cents per share.

The medical technology company posted revenue of $229.7 million in the period, also topping Street forecasts. Three analysts surveyed by Zacks expected $223 million.

Masimo expects full-year earnings to be $3.15 per share, with revenue expected to be $926.3 million.

Masimo shares have risen 47% since the beginning of the year. In the final minutes of trading on Wednesday, shares hit $157.85, a climb of 59% in the last 12 months.


This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on MASI at https://www.zacks.com/ap/MASI