Masimo's total first quarter revenue, including royalties, rose 14% to $135.9 million, compared to $119.2 million for the first quarter of 2012. First quarter 2013 product revenue rose 15% to $128.6 million, compared to $112.2 million for the first quarter of 2012. The company's worldwide direct product revenue grew 13% in the first quarter of 2013 and represented 84% of product revenue. OEM sales, which accounted for 16% of product revenue, rose 26% compared to the same period in 2012. Revenue from sales of Masimo rainbow products rose 24% to $10.5 million in the first quarter, compared to $8.5 million for the first quarter of 2012.
Net income for the first quarter of 2013 was $16.4 million, or $0.28 per diluted share, compared to net income of $15.8 million, or $0.27 per diluted share, in the first quarter of 2012. First quarter 2013 earnings per share were reduced by approximately $0.03 due to non-operating expenses primarily related to realized and unrealized net losses on foreign currency denominated transactions due to the strengthening of the U.S. dollar against the Japanese yen.
During the first quarter, the company shipped approximately 39,500 Masimo SET pulse oximetry and Masimo rainbow SET Pulse CO-Oximetry units, excluding handheld units, up 19% compared to approximately 33,300 in the same prior-year period. Masimo estimates its worldwide installed base as of March 30, 2013 to be 1,117,000 units, up 11% from 1,005,000 units as of March 31, 2012.Joe Kiani, Chairman and Chief Executive Officer of Masimo, said, "Masimo is off to a solid start in 2013, with product revenue up 15%, fueled by a 14% rise in our core SET Pulse Oxime
|SOURCE Masimo Corporation|
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