or the fiscal year ended January 3, 2009, Masimo reported product revenues of $258.9 million, up 29.7% from $199.7 million in 2007. Including royalty revenues, Masimo's total revenues were $307.1 million for the year ended January 3, 2009, up from $256.3 million in 2007. For the year ended January 3, 2009, Masimo reported earnings of $31.9 million or $0.53 per share, including the $14.9 million tax charge related to the implementation of its new international business organization and structure. Excluding the Q4 2008 tax charge, net income would have been $46.8 million, or $0.78 per share compared to $0.60 per share in 2007. In the year ended January 3, 2009, Masimo shipped 120,100 Masimo SET and Masimo Rainbow SET pulse oximeter units, excluding handheld pulse oximeters, compared to 116,300 in 2007.
In the fourth quarter of 2008, revenues from Masimo Rainbow SET products increased to $4.7 million or 161% from $1.8 million in the same prior year quarter. For the year ended January 3, 2009, revenues from Masimo Rainbow SET products were $13.4 million, an increase of 91% compared to 2007. As a result, 2008 Masimo Rainbow SET revenues accounted for 5.2% of total product revenues up from 3.7% in 2007.
Joe E. Kiani, Chairman and Chief Executive Officer of Masimo, said, "We have been fortunate that, despite the very challenging economic environment, hospitals and physicians continue to focus on the quality and efficiency of their patients' care and, as a result, continue to migrate to Masimo's gold standard SET pulse oximetry and Rainbow SET Pulse CO-Oximetry platforms. Our on-going business model, which is based on both new product innovation and a recurring revenue stream, is continuing to show resilience in this difficult worldwide economic climate."
As of January 3, 2009, cash and cash equivalents totaled $146.9 million, up from $96.7 million at December 29, 2007, including the previously announced first quPage: 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 Related medicine news :1
. Three Healthcare GPOs to Offer Masimo Rainbow SET(R) Pulse CO-Oximetry(TM) to Their Members2
. Masimo to Present at the Roth Capital Partners 21st Annual OC Growth Stock Conference3
. Masimo to Report Fourth Quarter and Fiscal Year 2008 Financial Results on March 3, 20094
. Masimo Files Patent Infringement Suit Against Philips5
. Clinicians at Dartmouth-Hitchcock Medical Center Present New Data Showing Masimo Rainbow SET(R) Oximetry and Patient SafetyNet(TM) Improves Patient Outcomes and Reduces the Cost of Care6
. Masimo to Present at Lazard Capital Markets 5th Annual Healthcare Conference7
. Masimo Launches First Non-adhesive Pulse Oximetry Sensor Designed For Extremely Low Birth Weight Babies8
. Masimo Reports Second Quarter 2008 Financial Results9
. Aurora Health Care Completes System-Wide Conversion to Masimo SET Pulse Oximetry Technology10
. First Nursing Facility Installation of Masimo Patient SafetyNet(TM) Goes Live With Remarkable Results11
. Dartmouth-Hitchcock Medical Center Evaluation Findings Demonstrate Masimo Patient SafetyNet(TM) Delivers Improvements in Clinical Outcomes and Patient Safety on General Care Floors