Masimo Reports Q4 EPS of $0.29 vs. $0.26

Masimo MASI today announced its financial results for the fourth quarter and year ended January 1, 2011. Masimo's total revenue for the fourth quarter rose 14.0% to $105.6 million, compared to $92.6 million for the fourth quarter of 2009. Masimo's fourth quarter product revenue rose 16.6% to $93.8 million, compared to $80.5 million for the fourth quarter of 2009. Revenue from Masimo rainbow products rose 44.4% to $8.4 million in the fourth quarter, compared to $5.8 million for the fourth quarter of 2009. Net income for the fourth quarter was $16.1 million, or $0.26 per diluted share, including $0.02 per diluted share in one-time marketing and other related expenses that Masimo had previously planned and announced after receiving $30.8 million in proceeds in 2010 from an antitrust lawsuit against Covidien. Excluding these one-time marketing and other related expenses, adjusted net income for the fourth quarter was $17.5 million, or $0.29 per diluted share, compared to net income of $14.1 million, or $0.23 per diluted share, in the fourth quarter of 2009. Due to rounding, the impact of excluding $0.02 per diluted share in one-time marketing and other related expenses added $0.03 per diluted share to the adjusted earnings per share calculation in the fourth quarter of 2010.