Masimo Corp., an Irvine-based maker of patient monitoring devices, on Tuesday posted a third-quarter profit that surpassed Wall Street estimates on revenue that was in line with expectations.
Masimo’s third-quarter profit before charges came in at $16.9 million, up 29% from a year earlier and surpassing Wall Street’s projection of $15.1 million.
The company’s net profit was $16.4 million, including what Masimo called “one-time marketing expenses” that it had previously planned and announced after receiving $30.1 million in the first quarter in an antitrust lawsuit against longtime rival Covidien Ltd.
The company makes non-invasive monitoring devices that measure things such as oxygen and hemoglobin in patients.
Quarterly revenue came in at $101 million, up 16% from 2009’s third quarter and in line with analysts’ projection of $101.3 million.
Masimo didn’t give an outlook for the current quarter in its earnings release.
Analysts expect it to earn $16.4 million on revenue of $106 million in the fourth quarter.