Irvine patient monitor maker Masimo Corp. reported financial results after markets closed Tuesday that surpassed Wall Street expectations.
Masimo’s profit came in at $21.2 million, 128% higher than 2013’s fourth quarter and better than analysts’ projection of $19.7 million.
Fourth-quarter revenue grew 14% to $161.8 million, slightly above Wall Street forecasts of $159.4 million.
Masimo’s profit totaled $74.4 million on revenue of $556.8 million for the full year.
The device maker also gave a full-year 2015 forecast.
Masimo said it expects some $69.1 million in full-year profit. The device maker said that number included an estimated $7.9 million reduction because of unfavorable foreign currency exchange rates.
Analysts expect Masimo’s profit to come in at $75.5 million. Analyst estimates generally exclude charges or special items.
Masimo sees 2015 total revenue of $605 million, below Wall Street’s estimate of $624.7 million.
In midday trading Wednesday, Masimo shares were up about 7% to a market value of about $1.6 billion.