Press release
Masimo Reports Second Quarter 2020 Financial Results
Q2 2020 Highlights Product revenue increased 31.1% to $301.0 million, or 32.0% on a constant currency basis; GAAP net income per diluted share was $0.96;
About this update from Masimo Corporation
[{"type":"text","content":"\nQ2 2020 Highlights\n\n\n\nProduct revenue increased 31.1% to $301.0 million, or 32.0% on a constant currency basis;\n\n\nGAAP net income per diluted share was $0.96;\n\n\nNon-GAAP net income per diluted share was $0.85; and\n\n\nShipments of noninvasive technology boards and instruments were a record 165,600.\n\n\n IRVINE, Calif.--(BUSINESS WIRE)--\nMasimo (Nasdaq: MASI) today announced its financial results for the second quarter ended June 27, 2020.\n\n\nSecond Quarter 2020 Results:\n\n\nTotal revenue, including royalty and other revenue, increased 31.0% to $301.0 million, compared to $229.7 million in the second quarter of 2019. Product revenue increased 31.1% to $301.0 million, or 32.0% on a constant currency basis, compared to $229.5 million in the second quarter of 2019. Excluding handheld and fingertip pulse oximeters, shipments of noninvasive technology boards and instruments of 165,600 increased 174% in the second quarter of 2020, compared to 60,400 in the second quarter of 2019.\n\n\nGAAP operating margin for the second quarter 2020 was 20.7% compared to 22.6% in the second quarter of 2019. Second quarter 2020 non-GAAP operating margin was 21.1% compared to 23.1% in the second quarter of 2019.\n\n\nFor the second quarter of 2020, GAAP net income was $55.8 million or $0.96 per diluted share compared to net income of $44.9 million or $0.79 per diluted share in 2019. Non-GAAP net income was $49.3 million or $0.85 per diluted share compared to net income of $43.1 million or $0.76 per diluted share in 2019. Total cash, cash equivalents and short-term investments was $681.9 million as of June 27, 2020.\n\n\nConsistent with last quarter, the Company is not providing financial guidance due to the many uncertainties still surrounding COVID-19 and its impact on the Company’s normal business patterns.\n\n\nJoe Kiani, Chairman and Chief Executive Officer of Masimo, said “I am incredibly proud of our team and how we continue to advance our mission to improve patient outcomes while reducing the cost of care, especially during this pandemic. From the beginning of the COVID-19 pandemic, we have done our best to support our customers as they have bravely been on the front lines of the worldwide response. Our unique ability to meet the needs of clinicians was in full view again this quarter as we reliably monitored their patients as o...