Joe E. Kiani, Chairman and Chief Executive Officer of Masimo, said, "We are happy with the continued strength in our core pulse oximetry business and growth in Rainbow SET product revenues. Our business model, which is based on innovation and recurring revenue from our installed base, is showing resilience in a difficult economic environment."
As of September 27, 2008, cash and cash equivalents totaled $122.6 million, an increase from December 29, 2007 of $96.7 million. As previously announced, during the 2008 first fiscal quarter, Masimo repaid in full a $26.7 million debt obligation, the majority of which was established in early fiscal 2007.
Based on the information available as of October 27, 2008, relating to the results of the first nine months of fiscal year 2008, Masimo now expects its total fiscal year 2008 product revenues to be approximately $256 million and total revenues, including royalties, to be approximately $303 million. These figures are up from the previously released guidance of $253 million and $300 million, respectively. Masimo also now expects earnings per common share for fiscal year 2008 to be approximately $0.71 per share, up from the previously released guidance of $0.64 per share.
Masimo will hold a conference call today at 2:00 p.m. PT (5:00 p.m. ET)
to discuss the results. The dial-in numbers are (800) 399-7902 for domestic
callers and (706) 634-0949 for international callers. The reservation
number for both dial-in numbers is 68032269. A live web cast of the
conference call will be available online from the "Investor Relations" page
of the Company's corporate web site at http://www.masimo.com. After the
live web cast, the call will remain available on Masimo's website through
November 27, 2008. In addition, a telephonic repla
|SOURCE Masimo Corporation|
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