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Joe Kiani, CEO, Chairman of Masimo Corp.

Joe Kiani, CEO, Chairman of Masimo Corp.

Masimo Corp. (Nasdaq: MASI), an Irvine-based maker of patient monitoring devices, issued preliminary 2021 results that showed revenue topped its forecast while profit met expectations.

The company said its 2021 adjusted profit was $3.88 a share on revenue from $1.235 billion to $1.240 billion. Masimo in November had forecast 2021 profit of $3.88 on sales of $1.23 billion. Analysts were expecting profit of $3.80 on sales of $1.23 billion.  

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The company also forecast 2022 profit of $4.34 on sales of $1.35 billion, indicating an 8.9% to 9.3% increase. Analysts predicted $4.35 profit on sales of $1.35 billion. 

Masimo, which was co-founded by Joe Kiani, expects to issue its fourth quarter and 2021 results on Feb. 15. 

Shares of Masimo were relatively unchanged, rising less than 1% to $255.26 and a $14.1 billion market cap. The shares are down about 14% since Dec. 30.