MEDICAL TECHNOLOGY
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Irvine-based Masimo's product revenue jumps 30 percent in 2008
Total revenue increases to $307 million.
By Kristen SchottPublished: March 05, 2009 09:40 AM
Irvine-based Masimo finished out 2008 on a high note, with growth during the fourth quarter and full year. The medical device maker's total revenue was $307.1 million last year compared to $256.3 million in 2007.
Product revenues jumped 29.7 percent to $258.9 million in 2008. And the company's Rainbow SET products, a noninvasive procedure that tests the body's hemoglobin and oxygen content, among other blood factors, brought in $13.4 million. It's a 91 percent increase over 2007. The products accounted for 5.2 percent of the total number.
During the fourth quarter, total revenue hit $83.1 million compared to $69.3 million in 2007. Product revenue increased 29.4 percent to $71.4 million, and the company's Rainbow SET pulse oximeter brought in $4.7 million, up 161 percent over the prior year. This marks Masimo's 22nd consecutive quarter and 14th year of product revenue growth.
"We have been fortunate that, despite the very challenging economic environment, hospitals and physicians continue to focus on the quality and efficiency of their patients' care and, as a result, continue to migrate to Masimo's gold standard SET pulse oximetry and Rainbow SET Pulse CO-Oximetry platforms," says company Chairman and CEO Joe Kiani.
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Product revenues jumped 29.7 percent to $258.9 million in 2008. And the company's Rainbow SET products, a noninvasive procedure that tests the body's hemoglobin and oxygen content, among other blood factors, brought in $13.4 million. It's a 91 percent increase over 2007. The products accounted for 5.2 percent of the total number. During the fourth quarter, total revenue hit $83.1 million compared to $69.3 million in 2007. Product revenue increased 29.4 percent to $71.4 million, and the company's Rainbow SET pulse oximeter brought in $4.7 million, up 161 percent over the prior year. This marks Masimo's 22nd consecutive quarter and 14th year of product revenue growth. "We have been fortunate that, despite the very challenging economic environment, hospitals and physicians continue to focus on the quality and efficiency of their patients' care and, as a result, continue to migrate to Masimo's gold standard SET pulse oximetry and Rainbow SET Pulse CO-Oximetry platforms," says company Chairman and CEO Joe Kiani. PAGE TWO Related headlines St. Joseph Hospital of Orange gets blue light UC Irvine researchers study brain link to autism "OC METRO Minute," March 4: Medical, technology companies report strong fourth-quarter results "OC METRO Minute," March 2: Beckman Coulter acquires Olympus Corp. |
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