Stock Monitor: AcelRx Pharma Post Earnings Reporting

LONDON, UK / ACCESSWIRE / December 08, 2017 / Active-Investors free earnings report on Masimo Corp. (NASDAQ: MASI) has freshly been issued to its members, and you can also sign up to view this report at www.active-investors.com/registration-sg/?symbol=MASI. Masimo reported its third quarter fiscal 2017 operating results on October 31, 2017. The medical technology Company exceeded top- and bottom-line expectations and raised its revenue and earnings guidance for FY17. Register today and get free access to our complimentary member's area where many more reports are available:

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Active-Investors.com is currently working on the research report for AcelRx Pharmaceuticals, Inc. (NASDAQ: ACRX), which also belongs to the Healthcare sector as the Company Masimo. Do not miss out and become a member today for free to access this upcoming report at:

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Active-Investors.com is focused on giving you timely information and the inside line on companies that matter to you. This morning, Masimo most recent news is on our radar and we have decided to include it on our blog post. Today's free coverage is available at:

www.active-investors.com/registration-sg/?symbol=MASI

Earnings Highlights and Summary

For the three months ended September 30, 2017, Masimo's total revenue, including royalty and other revenue, increased 15.6% to $193.7 million, up from $167.6 million in Q3 2016. The Company's reported numbers beat analysts' estimates of $188.9 million.

During Q3 2017, Masimo's gross profit totaled $128.67 million compared to $110.12 million in Q3 2016. The Company's reported quarter operating income came in at $47.98 million versus $36.60 million in the year earlier corresponding quarter.

For Q3 2017, Masimo reported net income of $39.2 million, or $0.70 per diluted share, compared to net income of $27.8 million, or $0.52 per diluted share, in Q3 2016. The Company's earnings comfortably topped Wall Street's estimates for earnings of $0.53 per share.

Operating Details

During Q3 2017, Masimo's product revenue increased 13.1% to $181.3 million compared to $160.3 million for Q3 2016, representing another quarter of double-digit growth, driven by strong performance across the Company's international markets, complemented by increased adoption of its newer technologies.

Masimo's worldwide direct product revenue increased by $21.7 million in the reported quarter compared to the same period in 2016 and represented 87.7% of product revenue. OEM's sales, which accounted for 12.3% of product revenue, decreased by 3.0% to $22.2 million on a y-o-y basis in Q3 2017. The Company's revenue from sales of Masimo rainbow® products increased by 19.9% compared to the year ago same period to $21.5 million in the reported quarter.

On a geographical basis, Masimo's US product revenue grew 4% to $119.3 million compared to $114.6 million for Q3 2016. The Company's international product revenue grew 36% to $62 million, or 35% on a constant currency basis, driven by strong contribution from the Company's Saudi tender and solid growth across the rest of the Europe, Middle-East, and Africa (EMEA) region.

For second consecutive quarter, Masimo realized more than 50,000 oximeter shipments, as Masimo shipped approximately 51,100 SET® pulse oximeters and rainbow SET? Pulse CO-Oximeters?, excluding handheld and finger oximeters in Q3 2017. The Company estimates its worldwide installed base of oximetry as of September 30, 2017, to be 1,566,000 units, up 5.7% from 1,482,000 units as of October 01, 2016.

Cash Matters

As of September 30, 2017, Masimo's total cash and cash investments were $289.9 million compared to $306.0 million as of December 31, 2016. During Q3 2017, the Company repurchased approximately 0.5 million shares at total cost of $45.3 million.

Masimo's days sales outstanding (DSO) was 56 for Q3 2017, up from 52 days at the end of Q2 2017. The increase in DSO was primarily due to the strength of the Company's international business, which has a longer collection cycle. Masimo's inventory turns were 2.6 for the reported quarter compared to 2.9 at the end of the prior year's corresponing quarter.

Financial Outlook

For FY17, Masimo is forecasting total revenues to be approximately $774.0 million, up from $769.0 million. The Company's product and other revenues for FY17 are projected to be approximately $741.0 million, up from the previous forecast of $736.0 million, while royalty revenues are expected to remain unchanged at approximately $33.0 million.

For FY17, Masimo is estimating earnings per diluted share to be approximately $2.95, up from the earlier guidance of $2.80 per diluted share.

Stock Performance Snapshot

December 07, 2017 - At Thursday's closing bell, Masimo's stock declined 1.83%, ending the trading session at $85.52.

Volume traded for the day: 365.40 thousand shares.

Stock performance in the last twelve-month period ? up 35.15%; and year-to-date ? up 26.88%

After yesterday's close, Masimo's market cap was at $4.39 billion.

Price to Earnings (P/E) ratio was at 13.55.

The stock is part of the Healthcare sector, categorized under the Medical Appliances & Equipment industry. This sector was up 0.3% at the end of the session.

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