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Masimo’s Q3 Profit Beats Estimates

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.

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