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Shares of Irvine-based Masimo Corp. fell sharply today, one day after its second-quarter results missed analysts’ forecasts.
Masimo closed down 10% to a market value of $1.2 billion.
The maker of patient monitoring devices on Thursday posted a second-quarter profit of $13.8 million, 19% lower than 2013’s second quarter and below the $16.5 million analyst estimate.
Masimo’s revenue rose 3% to $140.9 million. Wall Street expected it to have $145.8 million in revenue.
The company also issued 2014 guidance that was in-line with consensus projections.
The company said it could see a profit of $70.5 million to $73.9 million versus the $71 million consensus.
Masimo projected full-year revenue of $588 million to $593 million compared to analysts’ estimate of $590.1 million.