[craigster59]

Well, finally my stock pick is bouncing back....

Masimo Posts Better-Than-Expected 4th-Quarter Profit on Higher Shipments; Shares Rise


IRVINE, Calif. (AP) -- Shares of Masimo Corp. rose Wednesday, after the medical technology company said it swung to a fourth-quarter profit on higher shipments.
The quarter's results, along with the company's 2008 guidance, were well above of Wall Street predictions, sending Masimo shares up $1.79, or 5.6 percent, to $33.90 in afternoon trading. They have traded in a 52-week range of $18.70 to $41.99.

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After the payment of preferred dividends, Masimo posted a profit of $12.1 million, or 20 cents per share, compared with a loss of $10.3 million, or 62 cents per share, for the same quarter in 2006.

Revenue rose 12 percent to $69.3 million from $61.6 million in the year-ago period.

Analysts polled by Thomson Financial expected a profit of 12 cents per share on $64.1 million in revenue.

Masimo said it shipped 29,400 Masimo SET and Masimo Rainbow SET oximetry units, excluding handheld units, up 10 percent from the prior-year period.

For the full year, the company earned $23.1 million, or 60 cents per share, compared with $61.8 million, or $3.04 per share, in 2006. Revenue rose to $256.3 million from $224.3 million the year before.

Masimo said it expects to post a 2008 profit of about 52 cents per share and revenue of about $292 million. Analysts, on average, expect a profit of 49 cents per share on $273.3 million in revenue.

The company also said it expects total product revenues to be about $246 million for the year.