Last $26.81 USD
Change Today +0.365 / 1.38%
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As of 8:10 PM 12/19/14 All times are local (Market data is delayed by at least 15 minutes).

masimo corp (MASI) Key Developments

Masimo Corporation Presents at 26th Annual Piper Jaffray Healthcare Conference, Dec-02-2014 01:00 PM

Masimo Corporation Presents at 26th Annual Piper Jaffray Healthcare Conference, Dec-02-2014 01:00 PM. Venue: The New York Palace Hotel, 455 Madison Ave, New York, NY 10022, United States.

Masimo Corporation Announces Unaudited Consolidated Earnings Results for the Third Quarter and Nine Months Ended September 27, 2014; Updates Financial Guidance for Fiscal 2014; Provides Effective Tax Rate Guidance for the Fourth Quarter of 2014

Masimo Corporation announced unaudited consolidated earnings results for the third quarter and nine months ended September 27, 2014. For the quarter, the company reported total revenue of $144,118,000, operating income of $22,268,000, income before provision for income taxes of $21,702,000, operating income was $22,268,000, net income attributable to the company's stockholders of $14,863,000 or $0.27 diluted per share against total revenue of $131,447,000, operating income of $20,743,000, income before provision for income taxes of $20,067,000, operating income of $20,743,000, net income attributable to the company's stockholders of $15,602,000 or $0.27 diluted per share a year ago. For the nine months, the company reported total revenue of $424,856,000, operating income of $70,866,000, income before provision for income taxes of $70,823,000, operating income was $70,866,000 net income attributable to the company's stockholders of $51,297,000 or $0.91 diluted per share against total revenue of $404,811,000, operating income of $67,064,000, income before provision for income taxes of $63,824,000, operating income of $67,064,000, net income attributable to the company's stockholders of $49,068,000 or $0.85 diluted per share a year ago. Net cash provided by operating activities was $66,823,000 and purchases of property and equipment was $66,847,000 against net cash provided by operating activities of $48,210,000 and purchases of property and equipment of $6,910,000 a year ago. Increase in intangible assets was $2,779,000 against $2,986,000 a year ago. The company is providing updated financial guidance for fiscal 2014. For the year, the company now expects total revenue to be approximately $585 million, including product revenue of approximately $556 million and royalty revenue of approximately $29 million. This represents a decline in the prior guidance for total 2014 revenues of approximately $588 million to $593 million, which included product revenues of $560 million to $565 million and royalty revenue of approximately $28 million. Despite the reduction in total product revenue and partially offsetting increase in royalty revenue guidance, the company expects GAAP earnings per diluted share to be approximately $1.28, within the prior range of $1.24 to $1.30. The guidance set forth above is an estimate only and actual performance could differ. The company continues to expect effective tax rate will be in the range of approximately 25% to 26%. For the fourth quarter of 2014, the company continues to expect effective tax rate will be in the range of approximately 25% to 26%.

Arkansas Heart Hospital Upgrades to Masimo SET Pulse Oximetry

Masimo announced that Arkansas Heart Hospital has upgraded hospital-wide to Masimo SET pulse oximetry, leading to a dramatic reduction in false alarms and a significant increase in patient satisfaction. Arkansas Heart Hospital embraces the patient-safety suggestions of leading health organizations, including the Anesthesia Patient Safety Foundation, the Joint Commission, and the Institute for Safe Medication Practices (ISMP), which recommend continuous oxygenation and ventilation monitoring in patients receiving opioid-based pain medications. Opioid analgesics are associated with adverse effects and cause respiratory depression in 0.50%, or 25 of every 5,000 post-surgical patients. Arkansas Heart Hospital officials say that the previous pulse oximetry technology they used (Nellcor) created too many false alarms -- one of the top technology hazards in hospitals today, according to the ECRI Institute. Responding to actionable alarms is critical to prevent patient injury or death, but the frequency of false alarms can increase workload and desensitize clinicians to all alarms, putting patients at risk. Patients at Arkansas Heart Hospital noticed the silence, which helped the hospital improve its Hospital Consumer Assessment of Healthcare Providers and Systems (HCAHPS) scores -- a national, standardized, publicly reported 27-item survey instrument and data collection methodology for measuring patients' perceptions of their hospital experience. Masimo SET(R) Measure-through Motion and Low Perfusion(TM) pulse oximetry technology has been proven by more than 100 independent and objective studies and used on more than 100 million patients a year in leading hospitals worldwide, including the top 10 on the U.S. News & World Report Best Hospitals Honor Roll (2014-2015). Multiple studies have shown that Masimo SET(R) significantly reduces false alarms (specificity), and accurately detects true alarms (sensitivity) compared to non-Masimo SET(R) pulse oximeters. In addition, in a study at Dartmouth-Hitchcock Medical Center in a 36-bed orthopedic unit covering 2,841 patients and 9,978 monitored days over 10 months, the implementation of Masimo SET(R) bedside pulse oximetry and Masimo Patient SafetyNet(TM) resulted in over every 1,000 discharges, patients who were not continuously monitored had 3.4 rescue activations, while patients monitored continuously with Masimo SET(R) had 1.2 rescue activations -- a 65% reduction. Over every 1,000 patient days, patients who were not continuously monitored had 5.6 ICU transfers, while patients monitored continuously with Masimo SET(R) had 2.9 ICU transfers -- a 48% reduction. Dartmouth-Hitchcock estimated cost savings of $58,459 savings per patient not transferred to the ICU, for a annualized savings over $1.5 million annually.

Masimo Corporation to Report Q3, 2014 Results on Oct 29, 2014

Masimo Corporation announced that they will report Q3, 2014 results at 1:30 PM, Pacific Standard Time on Oct 29, 2014

Masimo Corporation, Q3 2014 Earnings Call, Oct 29, 2014

Masimo Corporation, Q3 2014 Earnings Call, Oct 29, 2014

 

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Price/Book 5.0x
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