Irvine-based medical device maker Masimo Corp. missed analysts’ expectations with its third-quarter results and cut its full-year forecast.
Masimo makes patient-monitoring devices that measure things such as oxygen and hemoglobin.
The company’s profit fell 9% to $14.8 million in the third quarter from a year earlier.
Analysts expected Masimo to post a profit of $16.5 million.
Revenue rose to $104 million, up 3% from last year’s third quarter but below analysts’ forecasts of $109.7 million.
Masimo said that quarterly sales of its Masimo SET pulse oximeters and Masimo Rainbow SET pulse CO-oximetry units fell 11%.
Investors sent Masimo’s shares down about 6% in afterhours trading today, to a recent market value of $1.3 million.
Masimo said it now expects a profit of $63.5 million to $64.7 million, down from a previous estimate of $71.5 million to $76.4 million.
Wall Street had expected Masimo to make $70.8 million for the year.
Full-year revenue now is seen at $436 million to $439 million, compared to a previous forecast of $446 million to $463 million.
Analysts had expected full-year revenue of $449.5 million.
