Masimo Announces Preliminary, Unaudited First Quarter 2020 Product Revenue

Masimo Corporation (Nasdaq: MASI) today announced a preliminary product revenue range for the first quarter ended March 28, 2020, and provided a business update regarding the impact of the Coronavirus (COVID-19) on the Company’s full-year 2020 outlook.

Masimo expects that its product revenue for the first quarter 2020 will range from $265 million to $271 million, which reflects reported growth of 14.9% to 17.5% over the first quarter of 2019.

The preliminary financial information presented in this press release is based on Masimo’s current expectations and may be adjusted as a result of, among other things, completion of customary quarterly review procedures. Management plans to discuss Masimo’s complete first quarter 2020 financial results after the market closes on Tuesday, April 28, 2020.

Given the uncertainties around the COVID-19 pandemic and its potential positive and potential negative impacts on our business, we are no longer offering guidance for 2020. The potential positive impacts include increased demand for our products from both direct and OEM customers, which has continued into the first days of the second quarter. The potential negative impacts include potential interruptions in our manufacturing operations and our suppliers’ manufacturing operations, and potential reductions in future demand if there has been overbuying of our products due to the pandemic.

First Quarter 2020 Financial Results Conference Call on Tuesday, April 28, 2020

The conference call to review Masimo’s complete financial results for the first quarter ended March 28, 2020 will begin at 1:30 p.m. PT (4:30 p.m. ET) on April 28, 2020 and will be hosted by Joe Kiani, Chairman and Chief Executive Officer, and Micah Young, Executive Vice President and Chief Financial Officer. A live webcast of the conference call will be available online from the investor relations page of the Company’s corporate website at www.masimo.com.

The dial-in numbers are [phone] for domestic callers and [phone] for international callers. The reservation code for both dial-in numbers is 9649388. After the live webcast, the call will be available on Masimo’s website through May 26, 2020. In addition, a telephonic replay of the call will be available through May 12, 2020. The replay dial-in numbers are [phone] for domestic callers and [phone] for international callers. Please use reservation code 9649388.