Irvine device maker Masimo Corp. on Tuesday said its first-quarter profit rose 51% and beat Wall Street’s expectations.
Masimo, which makes patient monitors and supplies, posted a profit of $13.3 million in the first quarter, compared to $8.8 million a year earlier.
Analysts looked for Masimo to post an $11.5 million profit for the quarter.
Masimo’s revenue was up 20% to $85.5 million, versus analysts’ expectations of $83.9 million.
Masimo said that its product revenue was up about 25% to $74.5 million, including contributions from its pulse oximeters, which measure patients’ oxygen levels, and its Rainbow product line, including the March launch of a system for monitoring hemoglobin that some analysts have praised.
