Irvine-based Masimo Corp., a manufacturer of non-invasive monitoring devices for hospitals, said preliminary revenue should be between $265 million and $271 million for the first quarter ended March 28, a 14.9% to $17.5% rise over the same period a year ago.
That result tops the $252.5 million average expected by six analysts surveyed by Yahoo! Finance. Masimo said it will issue its first quarter results on April 28.
Shares of Masimo (Nasdaq: MASI) rose 1.5% to $179.83 and a $9.7 billion market cap.
The company said the coronavirus has increased demand for its products. The Business Journal’s April 6 issue will have more information on what Masimo and other publicly traded companies are doing to combat the coronavirus.