10-Q Filing

MASIMO CORP CIK: 937556 Q1 2017

Filing Information

Form Type	10-Q
Accession Number	`0000937556-17-000101`
Period End Date	20170331
Filing Date	20170504
Fiscal Year	2017
Fiscal Period	Q1
XBRL Instance	masi-20170401.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 78 Income Statement 40 Cash Flow Statement 68 Comprehensive Income 4

Balance Sheet 78 line items

Line Item	Tag	Value	Unit	Period
Accounts receivable, allowance for doubtful accounts	`AllowanceForDoubtfulAccountsReceivableCurrent`	$1.70K	USD	Point-in-time
Accounts receivable, allowance for doubtful accounts	`AllowanceForDoubtfulAccountsReceivableCurrent`	$1.65K	USD	Point-in-time
Stockholders' Equity Attributable to Parent	`StockholdersEquity`	$560.24M	USD	Point-in-time
Stockholders' Equity Attributable to Parent	`StockholdersEquity`	$633.95M	USD	Point-in-time
Preferred stock, par value	`PreferredStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Deferred Revenue, Noncurrent	`DeferredRevenueNoncurrent`	$25.34M	USD	Point-in-time
Deferred Revenue, Noncurrent	`DeferredRevenueNoncurrent`	$25.31M	USD	Point-in-time
Preferred stock, par value	`PreferredStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Preferred stock, shares authorized	`PreferredStockSharesAuthorized`	5.00M	shares	Point-in-time
Preferred stock, shares authorized	`PreferredStockSharesAuthorized`	5.00M	shares	Point-in-time
Preferred stock, shares issued	`PreferredStockSharesIssued`	0.00	shares	Point-in-time
Preferred stock, shares issued	`PreferredStockSharesIssued`	0.00	shares	Point-in-time
Preferred stock, shares outstanding	`PreferredStockSharesOutstanding`	0.00	shares	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$305.97M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$132.32M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$139.90M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$343.82M	USD	Point-in-time
Preferred stock, shares outstanding	`PreferredStockSharesOutstanding`	0.00	shares	Point-in-time
Common stock, par value	`CommonStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Accounts receivable, net of allowance for doubtful accounts of $1,652 and $1,698 at April 1, 2017 and December 31, 2016, respectively.	`AccountsReceivableNetCurrent`	$101.67M	USD	Point-in-time
Common stock, par value	`CommonStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Accounts receivable, net of allowance for doubtful accounts of $1,652 and $1,698 at April 1, 2017 and December 31, 2016, respectively.	`AccountsReceivableNetCurrent`	$104.36M	USD	Point-in-time
Common stock, shares authorized	`CommonStockSharesAuthorized`	100.00M	shares	Point-in-time
Inventories	`InventoryNet`	$72.54M	USD	Point-in-time
Inventories	`InventoryNet`	$80.26M	USD	Point-in-time
Common stock, shares authorized	`CommonStockSharesAuthorized`	100.00M	shares	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	50,188.00	shares	Point-in-time
Other current assets	`OtherAssetsCurrent`	$27.82M	USD	Point-in-time
Other current assets	`OtherAssetsCurrent`	$27.05M	USD	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	51,144.00	shares	Point-in-time
Treasury stock, shares	`TreasuryStockShares`	14,255.00	shares	Point-in-time
Total current assets	`AssetsCurrent`	$507.23M	USD	Point-in-time
Treasury stock, shares	`TreasuryStockShares`	14,255.00	shares	Point-in-time
Total current assets	`AssetsCurrent`	$556.27M	USD	Point-in-time
Deferred Costs, Noncurrent	`DeferredCosts`	$88.14M	USD	Point-in-time
Deferred Costs, Noncurrent	`DeferredCosts`	$79.95M	USD	Point-in-time
Property and equipment, net	`PropertyPlantAndEquipmentNet`	$136.16M	USD	Point-in-time
Property and equipment, net	`PropertyPlantAndEquipmentNet`	$136.00M	USD	Point-in-time
Intangible assets, net	`IntangibleAssetsNetExcludingGoodwill`	$28.79M	USD	Point-in-time
Intangible assets, net	`IntangibleAssetsNetExcludingGoodwill`	$29.38M	USD	Point-in-time
Goodwill	`Goodwill`	$19.89M	USD	Point-in-time
Goodwill	`Goodwill`	$19.78M	USD	Point-in-time
Deferred tax assets	`DeferredTaxAssetsNetNoncurrent`	$39.00M	USD	Point-in-time
Deferred tax assets	`DeferredTaxAssetsNetNoncurrent`	$38.98M	USD	Point-in-time
Other non-current assets	`OtherAssetsNoncurrent`	$9.42M	USD	Point-in-time
Other non-current assets	`OtherAssetsNoncurrent`	$9.22M	USD	Point-in-time
Total assets	`Assets`	$820.52M	USD	Point-in-time
Total assets	`Assets`	$877.67M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$35.03M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$34.33M	USD	Point-in-time
Accrued compensation	`EmployeeRelatedLiabilitiesCurrent`	$24.20M	USD	Point-in-time
Accrued compensation	`EmployeeRelatedLiabilitiesCurrent`	$43.18M	USD	Point-in-time
Accrued and other current liabilities	`AccruedLiabilitiesCurrent`	$104.65M	USD	Point-in-time
Accrued and other current liabilities	`AccruedLiabilitiesCurrent`	$102.69M	USD	Point-in-time
Deferred revenue	`DeferredRevenueCurrent`	$40.76M	USD	Point-in-time
Deferred revenue	`DeferredRevenueCurrent`	$38.20M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$202.68M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$220.37M	USD	Point-in-time
Deferred Credits and Other Liabilities	`DeferredCreditsAndOtherLiabilities`	$14.59M	USD	Point-in-time
Deferred Credits and Other Liabilities	`DeferredCreditsAndOtherLiabilities`	$15.72M	USD	Point-in-time
Total liabilities	`Liabilities`	$243.71M	USD	Point-in-time
Total liabilities	`Liabilities`	$260.29M	USD	Point-in-time
Commitments and contingencies	`CommitmentsAndContingencies`	-	USD	Point-in-time
Commitments and contingencies	`CommitmentsAndContingencies`	-	USD	Point-in-time
Preferred stock, $0.001 par value; 5,000 shares authorized; 0 shares issued and outstanding at April 1, 2017 and December 31, 2016	`PreferredStockValueOutstanding`	-	USD	Point-in-time
Preferred stock, $0.001 par value; 5,000 shares authorized; 0 shares issued and outstanding at April 1, 2017 and December 31, 2016	`PreferredStockValueOutstanding`	-	USD	Point-in-time
Common stock, $0.001 par value; 100,000 shares authorized; 51,144 and 50,188 shares issued and outstanding at April 1, 2017 and December 31, 2016, respectively	`CommonStockValueOutstanding`	$51.00K	USD	Point-in-time
Common stock, $0.001 par value; 100,000 shares authorized; 51,144 and 50,188 shares issued and outstanding at April 1, 2017 and December 31, 2016, respectively	`CommonStockValueOutstanding`	$50.00K	USD	Point-in-time
Treasury stock, 14,255 and 14,255 shares at April 1, 2017 and December 31, 2016, respectively	`TreasuryStockValue`	$404.28M	USD	Point-in-time
Treasury stock, 14,255 and 14,255 shares at April 1, 2017 and December 31, 2016, respectively	`TreasuryStockValue`	$404.28M	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapital`	$410.08M	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapital`	$382.26M	USD	Point-in-time
Accumulated other comprehensive loss	`AccumulatedOtherComprehensiveIncomeLossForeignCurrencyTranslationAdjustmentNetOfTax`	$-7.03M	USD	Point-in-time
Accumulated other comprehensive loss	`AccumulatedOtherComprehensiveIncomeLossForeignCurrencyTranslationAdjustmentNetOfTax`	$-6.46M	USD	Point-in-time
Retained earnings	`RetainedEarningsAccumulatedDeficit`	$634.56M	USD	Point-in-time
Retained earnings	`RetainedEarningsAccumulatedDeficit`	$589.23M	USD	Point-in-time
Total liabilities and equity	`LiabilitiesAndStockholdersEquity`	$820.52M	USD	Point-in-time
Total liabilities and equity	`LiabilitiesAndStockholdersEquity`	$877.67M	USD	Point-in-time

Income Statement 40 line items

Line Item	Tag	Value	Unit	Period
Sales Revenue, Goods, Net	`SalesRevenueGoodsNet`	$163.29M	USD	1 Quarter
Sales Revenue, Goods, Net	`SalesRevenueGoodsNet`	$178.10M	USD	1 Quarter
Royalty	`Royalty`	$8.21M	USD	1 Quarter
Royalty	`Royalty`	$7.88M	USD	1 Quarter
Total revenue	`Revenues`	$171.17M	USD	1 Quarter
Total revenue	`Revenues`	$186.30M	USD	1 Quarter
Cost of goods sold	`CostOfGoodsSold`	$62.17M	USD	1 Quarter
Cost of goods sold	`CostOfGoodsSold`	$56.95M	USD	1 Quarter
Gross profit	`GrossProfit`	$124.13M	USD	1 Quarter
Gross profit	`GrossProfit`	$114.21M	USD	1 Quarter
Selling, general and administrative	`SellingGeneralAndAdministrativeExpense`	$62.51M	USD	1 Quarter
Selling, general and administrative	`SellingGeneralAndAdministrativeExpense`	$65.57M	USD	1 Quarter
Research and Development Expense	`ResearchAndDevelopmentExpense`	$14.37M	USD	1 Quarter
Research and Development Expense	`ResearchAndDevelopmentExpense`	$15.37M	USD	1 Quarter
Operating Expenses	`OperatingExpenses`	$76.88M	USD	1 Quarter
Operating Expenses	`OperatingExpenses`	$80.94M	USD	1 Quarter
Operating Income (Loss)	`OperatingIncomeLoss`	$43.20M	USD	1 Quarter
Operating Income (Loss)	`OperatingIncomeLoss`	$37.34M	USD	1 Quarter
Nonoperating Income (Expense)	`NonoperatingIncomeExpense`	$874.00K	USD	1 Quarter
Nonoperating Income (Expense)	`NonoperatingIncomeExpense`	$498.00K	USD	1 Quarter
Income (Loss) from Continuing Operations before Equity Method Investments, Income Taxes, Extraordinary Items, Noncontrolling Interest	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$37.84M	USD	1 Quarter
Income (Loss) from Continuing Operations before Equity Method Investments, Income Taxes, Extraordinary Items, Noncontrolling Interest	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$44.07M	USD	1 Quarter
Provision for income taxes	`IncomeTaxExpenseBenefit`	$10.26M	USD	1 Quarter
Provision for income taxes	`IncomeTaxExpenseBenefit`	$-1.26M	USD	1 Quarter
Net income including noncontrolling interest	`ProfitLoss`	$45.33M	USD	1 Quarter
Net income including noncontrolling interest	`ProfitLoss`	$27.58M	USD	1 Quarter
Net income attributable to Masimo Corporation stockholders	`NetIncomeLoss`	$45.33M	USD	1 Quarter
Net income attributable to Masimo Corporation stockholders	`NetIncomeLoss`	$27.58M	USD	1 Quarter
Foreign currency translation adjustments	`OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax`	$566.00K	USD	1 Quarter
Foreign currency translation adjustments	`OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax`	$1.40M	USD	1 Quarter
Comprehensive Income (Loss), Net of Tax, Attributable to Parent	`ComprehensiveIncomeNetOfTax`	$28.98M	USD	1 Quarter
Comprehensive Income (Loss), Net of Tax, Attributable to Parent	`ComprehensiveIncomeNetOfTax`	$45.90M	USD	1 Quarter
Basic (in usd per share)	`EarningsPerShareBasic`	$0.90	USD	1 Quarter
Basic (in usd per share)	`EarningsPerShareBasic`	$0.56	USD	1 Quarter
Diluted (in usd per share)	`EarningsPerShareDiluted`	$0.82	USD	1 Quarter
Diluted (in usd per share)	`EarningsPerShareDiluted`	$0.53	USD	1 Quarter
Basic (in shares)	`WeightedAverageNumberOfSharesOutstandingBasic`	50.65M	shares	1 Quarter
Basic (in shares)	`WeightedAverageNumberOfSharesOutstandingBasic`	49.42M	shares	1 Quarter
Diluted (in shares)	`WeightedAverageNumberOfDilutedSharesOutstanding`	51.95M	shares	1 Quarter
Diluted (in shares)	`WeightedAverageNumberOfDilutedSharesOutstanding`	55.53M	shares	1 Quarter

Cash Flow Statement 68 line items

Line Item	Tag	Value	Unit	Period
Net income	`ProfitLoss`	$45.33M	USD	1 Quarter
Net income	`ProfitLoss`	$27.58M	USD	1 Quarter
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$4.05M	USD	1 Quarter
Depreciation and amortization	`DepreciationDepletionAndAmortization`	$4.74M	USD	1 Quarter
Stock-based compensation	`ShareBasedCompensation`	$2.89M	USD	1 Quarter
Stock-based compensation	`ShareBasedCompensation`	$3.03M	USD	1 Quarter
Gain (Loss) on Disposition of Property Plant Equipment	`GainLossOnSaleOfPropertyPlantEquipment`	$-144.00K	USD	1 Quarter
Gain (Loss) on Disposition of Property Plant Equipment	`GainLossOnSaleOfPropertyPlantEquipment`	$-152.00K	USD	1 Quarter
Deconsolidation, Gain (Loss), Amount	`DeconsolidationGainOrLossAmount`	$273.00K	USD	1 Quarter
Deconsolidation, Gain (Loss), Amount	`DeconsolidationGainOrLossAmount`	-	USD	1 Quarter
Provision for doubtful accounts	`ProvisionForDoubtfulAccounts`	$60.00K	USD	1 Quarter
Provision for doubtful accounts	`ProvisionForDoubtfulAccounts`	$127.00K	USD	1 Quarter
Increase in accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$2.69M	USD	1 Quarter
Increase in accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$12.27M	USD	1 Quarter
Increase in inventories	`IncreaseDecreaseInInventories`	$7.66M	USD	1 Quarter
Increase in inventories	`IncreaseDecreaseInInventories`	$326.00K	USD	1 Quarter
(Increase) decrease in deferred cost of goods sold	`IncreaseDecreaseInDeferredCharges`	$-1.80M	USD	1 Quarter
(Increase) decrease in deferred cost of goods sold	`IncreaseDecreaseInDeferredCharges`	$8.16M	USD	1 Quarter
Increase (Decrease) in Other Noncurrent Assets	`IncreaseDecreaseInOtherNoncurrentAssets`	$188.00K	USD	1 Quarter
Increase (Decrease) in Other Noncurrent Assets	`IncreaseDecreaseInOtherNoncurrentAssets`	$621.00K	USD	1 Quarter
Increase (Decrease) in Other Current Assets	`IncreaseDecreaseInOtherCurrentAssets`	$-307.00K	USD	1 Quarter
Increase (Decrease) in Other Current Assets	`IncreaseDecreaseInOtherCurrentAssets`	$3.11M	USD	1 Quarter
Increase in accounts payable	`IncreaseDecreaseInAccountsPayable`	$1.47M	USD	1 Quarter
Increase in accounts payable	`IncreaseDecreaseInAccountsPayable`	$339.00K	USD	1 Quarter
Decrease in accrued compensation	`IncreaseDecreaseInEmployeeRelatedLiabilities`	$-19.09M	USD	1 Quarter
Decrease in accrued compensation	`IncreaseDecreaseInEmployeeRelatedLiabilities`	$-12.63M	USD	1 Quarter
(Decrease) increase in accrued liabilities	`IncreaseDecreaseInAccruedLiabilities`	$-932.00K	USD	1 Quarter
(Decrease) increase in accrued liabilities	`IncreaseDecreaseInAccruedLiabilities`	$-1.96M	USD	1 Quarter
Increase in deferred revenue	`IncreaseDecreaseInDeferredRevenue`	$5.43M	USD	1 Quarter
Increase in deferred revenue	`IncreaseDecreaseInDeferredRevenue`	$2.56M	USD	1 Quarter
Increase in other non-current liabilities	`IncreaseDecreaseInOtherOperatingLiabilities`	$352.00K	USD	1 Quarter
Increase in other non-current liabilities	`IncreaseDecreaseInOtherOperatingLiabilities`	$1.09M	USD	1 Quarter
Net cash provided by operating activities	`NetCashProvidedByUsedInOperatingActivities`	$18.80M	USD	1 Quarter
Net cash provided by operating activities	`NetCashProvidedByUsedInOperatingActivities`	$15.45M	USD	1 Quarter
Deferred Income Tax Expense (Benefit)	`DeferredIncomeTaxExpenseBenefit`	-	USD	1 Quarter
Deferred Income Tax Expense (Benefit)	`DeferredIncomeTaxExpenseBenefit`	$2.70M	USD	1 Quarter
Purchases of property and equipment, net	`PaymentsToAcquirePropertyPlantAndEquipment`	$4.39M	USD	1 Quarter
Purchases of property and equipment, net	`PaymentsToAcquirePropertyPlantAndEquipment`	$5.35M	USD	1 Quarter
Increase in intangible assets	`PaymentsToAcquireIntangibleAssets`	$751.00K	USD	1 Quarter
Increase in intangible assets	`PaymentsToAcquireIntangibleAssets`	$833.00K	USD	1 Quarter
Deconsolidation, Variable Interest Entity, Reduction of Cash	`DeconsolidationVariableInterestEntityReductionofCash`	$-763.00K	USD	1 Quarter
Deconsolidation, Variable Interest Entity, Reduction of Cash	`DeconsolidationVariableInterestEntityReductionofCash`	-	USD	1 Quarter
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-5.23M	USD	1 Quarter
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-6.86M	USD	1 Quarter
Proceeds from (Repayments of) Lines of Credit	`ProceedsFromRepaymentsOfLinesOfCredit`	$45.00M	USD	1 Quarter
Proceeds from (Repayments of) Lines of Credit	`ProceedsFromRepaymentsOfLinesOfCredit`	-	USD	1 Quarter
Repayments of Lines of Credit	`RepaymentsOfLinesOfCredit`	-	USD	1 Quarter
Repayments of Lines of Credit	`RepaymentsOfLinesOfCredit`	$5.00M	USD	1 Quarter
Repayments of capital lease obligations	`RepaymentsOfLongTermCapitalLeaseObligations`	$69.00K	USD	1 Quarter
Repayments of capital lease obligations	`RepaymentsOfLongTermCapitalLeaseObligations`	$67.00K	USD	1 Quarter
Proceeds from issuance of common stock	`ProceedsFromStockOptionsExercised`	$27.29M	USD	1 Quarter
Proceeds from issuance of common stock	`ProceedsFromStockOptionsExercised`	$2.55M	USD	1 Quarter
Repurchases of common stock	`PaymentsForRepurchaseOfCommonStock`	-	USD	1 Quarter
Repurchases of common stock	`PaymentsForRepurchaseOfCommonStock`	$47.70M	USD	1 Quarter
Net cash provided by (used in) financing activities	`NetCashProvidedByUsedInFinancingActivities`	$-5.21M	USD	1 Quarter
Net cash provided by (used in) financing activities	`NetCashProvidedByUsedInFinancingActivities`	$27.22M	USD	1 Quarter
Effect of foreign currency exchange rates on cash	`EffectOfExchangeRateOnCashAndCashEquivalents`	$413.00K	USD	1 Quarter
Effect of foreign currency exchange rates on cash	`EffectOfExchangeRateOnCashAndCashEquivalents`	$855.00K	USD	1 Quarter
Net increase in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$7.58M	USD	1 Quarter
Net increase in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$37.85M	USD	1 Quarter
Cash and cash equivalents at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$305.97M	USD	Point-in-time
Cash and cash equivalents at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$132.32M	USD	Point-in-time
Cash and cash equivalents at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$139.90M	USD	Point-in-time
Cash and cash equivalents at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$343.82M	USD	Point-in-time
Cash and cash equivalents at end of period	`CashAndCashEquivalentsAtCarryingValue`	$132.32M	USD	Point-in-time
Cash and cash equivalents at end of period	`CashAndCashEquivalentsAtCarryingValue`	$139.90M	USD	Point-in-time
Cash and cash equivalents at end of period	`CashAndCashEquivalentsAtCarryingValue`	$305.97M	USD	Point-in-time
Cash and cash equivalents at end of period	`CashAndCashEquivalentsAtCarryingValue`	$343.82M	USD	Point-in-time

Comprehensive Income 4 line items

Line Item	Tag	Value	Unit	Period
Net income including noncontrolling interest	`ProfitLoss`	$45.33M	USD	1 Quarter
Net income including noncontrolling interest	`ProfitLoss`	$27.58M	USD	1 Quarter
Foreign currency translation adjustments	`OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax`	$1.40M	USD	1 Quarter
Foreign currency translation adjustments	`OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax`	$566.00K	USD	1 Quarter

Data is extracted from SEC EDGAR XBRL filings. Values shown are as reported in the filing.