Masimo Corporation reported earnings results for the third quarter and nine months ended October 3, 2009. For the third quarter of 2009, the company reported product revenues of $75.1 million representing a 14% increase over $66.1 million for the third quarter of 2008. Including royalty revenues, the company reported total 2009 third quarter revenues of $87.4 million compared to $78.1 million for the third quarter of 2008. For the third quarter of 2009, the company reported earnings per share of $0.22 compared to $0.22 per share for the third quarter of 2008. For the quarter, the company reported operating income of $20.8 million and income before provision for income taxes of $21.1 million and net income attributable to company of $13.05 million compared to operating income of $60.8 million and income before provision for income taxes of $20.6 million and net income attributable to company of $13.06 million for the same period a year ago. For the nine months, the company reported operating income of $60.8 million and income before provision for income taxes of $61.2 million and net income attributable to company of $39.1 million compared to operating income of $51.2 million and income before provision for income taxes of $52.4 million and net income attributable to company of $32.4 million for the same period a year ago. For the first nine months of 2009, the company reported product revenues of $219.7 million representing a 17% increase over $188.0 million for the first nine months of 2008. Including royalty revenues, the company reported total 2009 year to date revenues of $256.5 million compared to $224.0 million for the prior year period. For the first nine months of 2009, the company reported earnings per share of $0.65, up 20% from $0.54 per share for the first nine months of 2008. For the nine months, the company reported net cash provided by operating activities of $29.7 million and purchases of property and equipment of $2.8 million compared to net cash provided by operating activities of $52.6 million and purchases of property and equipment of $5.3 million for the same period a year ago.

Masimo Corporation announced that new clinical studies presented at the American Society of Anesthesiology (ASA) Annual Meeting in New Orleans, Louisiana, show Masimo noninvasive and continuous hemoglobin (SpHb(TM)) technology is reliable and accurate compared to invasive blood tests for both healthy subjects and hospitalized patients. Another study presented found Masimo PVI to be an accurate, reliable automatic noninvasive indicator of a patient's ability to respond to fluid. Accuracy of Noninvasive Hemoglobin Measurements by Pulse CO-Oximetry in Hemodilution Subjects (A184)(1), a clinical study at Loma Linda University in Loma Linda, California, compared SpHb measurements to 165 invasive laboratory measurements in 20 healthy adult patients undergoing hemodilution. All 20 patients had one unit of blood drawn through an arterial line while isolyte intravenous fluid was given (to compensate for the decrease in intravascular volume) until they reached a 30% reduction in hemoglobin or a maximum of 30 ml/kg of fluid. Blood samples were drawn after each 500 ml of fluid administered and analyzed for total hemoglobin by laboratory CO-Oximeter. Masimo SpHb had a bias of 0.15 g/dL and precision of 0.92 g/dL, researchers to conclude that SpHb 'measurement accuracy was unaffected by perfusion index levels' and offers an 'acceptable alternative to invasive hemoglobin tests in many clinical scenarios.

Masimo Corporation, Q3 2009 Earnings Call, Nov-03-2009