Irvine-based patient monitor maker Masimo Corp. today reported first-quarter results that outpaced Wall Street forecasts.
Masimo posted a profit of $27.6 million, 35% higher than 2015’s first quarter and 20% above analysts’ prediction of $22.4 million.
First-quarter revenue was up 11% to $171.2 million, above consensus estimates of $165.3 million.
Masimo also issued guidance for the full year.
It said it could see a profit of $95.1 million, up from a previous forecast of $87.8 million, which is also analysts’ consensus 2016 profit projection.
The device maker said its total product revenues are now expected to be about $647 million, up from $640 million. It added that its royalty revenue expectations haven’t changed from its previous estimate of less than $30 million.
Masimo shares were about 9% in Thursday trading to a market cap of $2.3 billion.
