2016 Q1 Form 10-Q Financial Statement

#000093755616000403 Filed on November 02, 2016

View on sec.gov

Income Statement

Concept 2016 Q1 2015 Q4
Revenue $167.3M $152.6M
YoY Change 3.38%
Cost Of Revenue $65.50M $50.34M
YoY Change 24.52%
Gross Profit $101.7M $102.2M
YoY Change -6.83%
Gross Profit Margin 60.83% 67.0%
Selling, General & Admin $70.70M $59.61M
YoY Change 14.96%
% of Gross Profit 69.49% 58.31%
Research & Development $13.80M $14.49M
YoY Change -8.0%
% of Gross Profit 13.56% 14.17%
Depreciation & Amortization $4.100M $3.900M
YoY Change 24.24%
% of Gross Profit 4.03% 3.81%
Operating Expenses $84.50M $74.09M
YoY Change 10.46%
Operating Profit $36.89M $28.14M
YoY Change 12.82%
Interest Expense
YoY Change
% of Operating Profit
Other Income/Expense, Net -$1.900M -$1.050M
YoY Change 35.71%
Pretax Income $35.00M $27.09M
YoY Change 12.18%
Income Tax $10.00M $9.161M
% Of Pretax Income 28.57% 33.82%
Net Earnings $24.10M $19.33M
YoY Change 13.68%
Net Earnings / Revenue 14.41% 12.67%
Basic Earnings Per Share $0.48 $0.38
Diluted Earnings Per Share $0.46 $0.36
COMMON SHARES
Basic Shares Outstanding 49.49M shares 50.97M shares
Diluted Shares Outstanding 53.69M shares

Balance Sheet

Concept 2016 Q1 2015 Q4
SHORT-TERM ASSETS
Cash & Short-Term Investments $132.3M $103.6M
YoY Change -1.64%
Cash & Equivalents $132.3M $103.6M
Short-Term Investments
Other Short-Term Assets $21.42M $37.21M
YoY Change -0.22%
Inventory $62.04M $73.31M
Prepaid Expenses $9.930M $10.36M
Receivables $80.96M $75.47M
Other Receivables $7.500M $7.300M
Total Short-Term Assets $299.1M $297.5M
YoY Change 0.7%
LONG-TERM ASSETS
Property, Plant & Equipment $132.5M $128.6M
YoY Change 29.93%
Goodwill $20.39M $20.45M
YoY Change -2.79%
Intangibles $27.56M $27.88M
YoY Change -0.77%
Long-Term Investments
YoY Change
Other Assets $11.01M $11.32M
YoY Change 47.13%
Total Long-Term Assets $302.6M $280.2M
YoY Change 12.94%
TOTAL ASSETS
Total Short-Term Assets $299.1M $297.5M
Total Long-Term Assets $302.6M $280.2M
Total Assets $601.7M $577.8M
YoY Change 6.5%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $25.87M $28.74M
YoY Change -32.01%
Accrued Expenses $44.22M $24.10M
YoY Change 80.2%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due $100.0K $100.0K
YoY Change 0.0%
Total Short-Term Liabilities $132.6M $111.8M
YoY Change 7.05%
LONG-TERM LIABILITIES
Long-Term Debt $185.1M $190.1M
YoY Change 47.96%
Other Long-Term Liabilities $8.021M $7.342M
YoY Change 3.19%
Total Long-Term Liabilities $8.021M $7.342M
YoY Change 3.19%
TOTAL LIABILITIES
Total Short-Term Liabilities $132.6M $111.8M
Total Long-Term Liabilities $8.021M $7.342M
Total Liabilities $326.0M $309.6M
YoY Change 26.73%
SHAREHOLDERS EQUITY
Retained Earnings $288.6M $264.5M
YoY Change 40.58%
Common Stock
YoY Change
Preferred Stock
YoY Change
Treasury Stock (at cost) $340.9M $316.1M
YoY Change 83.36%
Treasury Stock Shares 14.26M shares 12.16M shares
Shareholders Equity $275.4M $269.2M
YoY Change
Total Liabilities & Shareholders Equity $601.7M $577.8M
YoY Change 6.5%

Cashflow Statement

Concept 2016 Q1 2015 Q4
OPERATING ACTIVITIES
Net Income $24.10M $19.33M
YoY Change 13.68%
Depreciation, Depletion And Amortization $4.100M $3.900M
YoY Change 24.24%
Cash From Operating Activities $61.50M $27.10M
YoY Change 113.54%
INVESTING ACTIVITIES
Capital Expenditures -$10.60M -$16.70M
YoY Change 12.77%
Acquisitions
YoY Change
Other Investing Activities $0.00 $0.00
YoY Change
Cash From Investing Activities -$10.60M -$16.70M
YoY Change 12.77%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -21.30M -26.20M
YoY Change 914.29%
NET CHANGE
Cash From Operating Activities 61.50M 27.10M
Cash From Investing Activities -10.60M -16.70M
Cash From Financing Activities -21.30M -26.20M
Net Change In Cash 29.60M -15.80M
YoY Change 71.1%
FREE CASH FLOW
Cash From Operating Activities $61.50M $27.10M
Capital Expenditures -$10.60M -$16.70M
Free Cash Flow $72.10M $43.80M
YoY Change 88.74%

Facts In Submission

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CY2015Q1 us-gaap Finite Lived Intangible Assets Gross
FiniteLivedIntangibleAssetsGross
43892000 USD
CY2016Q4 us-gaap Finite Lived Intangible Assets Gross
FiniteLivedIntangibleAssetsGross
50914000 USD
CY2015Q1 us-gaap Finite Lived Intangible Assets Net
FiniteLivedIntangibleAssetsNet
27556000 USD
CY2016Q4 us-gaap Finite Lived Intangible Assets Net
FiniteLivedIntangibleAssetsNet
29816000 USD
us-gaap Gain Loss On Sale Of Property Plant Equipment
GainLossOnSaleOfPropertyPlantEquipment
-423000 USD
us-gaap Gain Loss On Sale Of Property Plant Equipment
GainLossOnSaleOfPropertyPlantEquipment
-478000 USD
CY2016Q1 us-gaap Goodwill
Goodwill
20394000 USD
CY2016Q4 us-gaap Goodwill
Goodwill
20252000 USD
CY2015Q4 us-gaap Goodwill And Intangible Asset Impairment
GoodwillAndIntangibleAssetImpairment
0 USD
us-gaap Goodwill And Intangible Asset Impairment
GoodwillAndIntangibleAssetImpairment
0 USD
CY2016Q4 us-gaap Goodwill And Intangible Asset Impairment
GoodwillAndIntangibleAssetImpairment
0 USD
us-gaap Goodwill And Intangible Asset Impairment
GoodwillAndIntangibleAssetImpairment
0 USD
CY2015Q4 us-gaap Gross Profit
GrossProfit
102232000 USD
us-gaap Gross Profit
GrossProfit
308238000 USD
CY2016Q4 us-gaap Gross Profit
GrossProfit
110122000 USD
us-gaap Gross Profit
GrossProfit
339470000 USD
CY2015Q4 us-gaap Income Loss From Continuing Operations Before Income Taxes Minority Interest And Income Loss From Equity Method Investments
IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments
27090000 USD
us-gaap Income Loss From Continuing Operations Before Income Taxes Minority Interest And Income Loss From Equity Method Investments
IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments
81336000 USD
CY2016Q4 us-gaap Income Loss From Continuing Operations Before Income Taxes Minority Interest And Income Loss From Equity Method Investments
IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments
36058000 USD
us-gaap Income Loss From Continuing Operations Before Income Taxes Minority Interest And Income Loss From Equity Method Investments
IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments
110793000 USD
CY2015Q4 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
9161000 USD
us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
24889000 USD
CY2016Q4 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
8285000 USD
us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
25420000 USD
us-gaap Income Taxes Paid
IncomeTaxesPaid
29854000 USD
us-gaap Payments Of Debt Issuance Costs
PaymentsOfDebtIssuanceCosts
0 USD
us-gaap Increase Decrease In Inventories
IncreaseDecreaseInInventories
3755000 USD
us-gaap Income Taxes Paid
IncomeTaxesPaid
25753000 USD
us-gaap Increase Decrease In Accounts Payable
IncreaseDecreaseInAccountsPayable
-4179000 USD
us-gaap Increase Decrease In Accounts Payable
IncreaseDecreaseInAccountsPayable
9232000 USD
us-gaap Increase Decrease In Accounts Payable Related Parties
IncreaseDecreaseInAccountsPayableRelatedParties
0 USD
us-gaap Increase Decrease In Accounts Payable Related Parties
IncreaseDecreaseInAccountsPayableRelatedParties
-1092000 USD
us-gaap Increase Decrease In Accounts Receivable
IncreaseDecreaseInAccountsReceivable
5048000 USD
us-gaap Increase Decrease In Accounts Receivable
IncreaseDecreaseInAccountsReceivable
13525000 USD
us-gaap Increase Decrease In Accrued Liabilities
IncreaseDecreaseInAccruedLiabilities
-482000 USD
us-gaap Increase Decrease In Accrued Liabilities
IncreaseDecreaseInAccruedLiabilities
862000 USD
us-gaap Increase Decrease In Deferred Charges
IncreaseDecreaseInDeferredCharges
1007000 USD
us-gaap Increase Decrease In Deferred Charges
IncreaseDecreaseInDeferredCharges
11278000 USD
us-gaap Increase Decrease In Deferred Revenue
IncreaseDecreaseInDeferredRevenue
3465000 USD
us-gaap Increase Decrease In Deferred Revenue
IncreaseDecreaseInDeferredRevenue
10857000 USD
us-gaap Increase Decrease In Employee Related Liabilities
IncreaseDecreaseInEmployeeRelatedLiabilities
-1436000 USD
us-gaap Increase Decrease In Employee Related Liabilities
IncreaseDecreaseInEmployeeRelatedLiabilities
-810000 USD
us-gaap Increase Decrease In Other Current Assets
IncreaseDecreaseInOtherCurrentAssets
12911000 USD
us-gaap Increase Decrease In Other Noncurrent Assets
IncreaseDecreaseInOtherNoncurrentAssets
3661000 USD
us-gaap Increase Decrease In Other Noncurrent Assets
IncreaseDecreaseInOtherNoncurrentAssets
2317000 USD
us-gaap Increase Decrease In Other Operating Liabilities
IncreaseDecreaseInOtherOperatingLiabilities
-272000 USD
us-gaap Increase Decrease In Other Operating Liabilities
IncreaseDecreaseInOtherOperatingLiabilities
1149000 USD
CY2015Q4 us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
2712000 shares
us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
2293000 shares
CY2016Q4 us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
4088000 shares
us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
3451000 shares
CY2016Q1 us-gaap Intangible Assets Net Excluding Goodwill
IntangibleAssetsNetExcludingGoodwill
27556000 USD
CY2016Q4 us-gaap Intangible Assets Net Excluding Goodwill
IntangibleAssetsNetExcludingGoodwill
29816000 USD
us-gaap Interest Paid Net
InterestPaidNet
1548000 USD
us-gaap Interest Paid Net
InterestPaidNet
2603000 USD
CY2016Q1 us-gaap Inventory Finished Goods Net Of Reserves
InventoryFinishedGoodsNetOfReserves
31920000 USD
CY2016Q4 us-gaap Inventory Finished Goods Net Of Reserves
InventoryFinishedGoodsNetOfReserves
29404000 USD
CY2016Q1 us-gaap Inventory Net
InventoryNet
62038000 USD
CY2016Q4 us-gaap Inventory Net
InventoryNet
67047000 USD
CY2016Q1 us-gaap Inventory Raw Materials Net Of Reserves
InventoryRawMaterialsNetOfReserves
25781000 USD
CY2016Q4 us-gaap Inventory Raw Materials Net Of Reserves
InventoryRawMaterialsNetOfReserves
31469000 USD
CY2016Q1 us-gaap Inventory Work In Process Net Of Reserves
InventoryWorkInProcessNetOfReserves
4337000 USD
CY2016Q4 us-gaap Inventory Work In Process Net Of Reserves
InventoryWorkInProcessNetOfReserves
6174000 USD
CY2015Q4 us-gaap Lease And Rental Expense
LeaseAndRentalExpense
1200000 USD
us-gaap Lease And Rental Expense
LeaseAndRentalExpense
4100000 USD
CY2016Q4 us-gaap Lease And Rental Expense
LeaseAndRentalExpense
1500000 USD
us-gaap Lease And Rental Expense
LeaseAndRentalExpense
4500000 USD
CY2016Q4 us-gaap Letters Of Credit Outstanding Amount
LettersOfCreditOutstandingAmount
300000 USD
CY2016Q1 us-gaap Liabilities
Liabilities
326023000 USD
CY2016Q4 us-gaap Liabilities
Liabilities
306266000 USD
CY2016Q1 us-gaap Liabilities And Stockholders Equity
LiabilitiesAndStockholdersEquity
601735000 USD
us-gaap Payments Of Debt Issuance Costs
PaymentsOfDebtIssuanceCosts
621000 USD
us-gaap Payments Related To Tax Withholding For Share Based Compensation
PaymentsRelatedToTaxWithholdingForShareBasedCompensation
472000 USD
us-gaap Payments Related To Tax Withholding For Share Based Compensation
PaymentsRelatedToTaxWithholdingForShareBasedCompensation
0 USD
us-gaap Payments To Acquire Intangible Assets
PaymentsToAcquireIntangibleAssets
3486000 USD
CY2016Q4 us-gaap Liabilities And Stockholders Equity
LiabilitiesAndStockholdersEquity
639453000 USD
CY2016Q1 us-gaap Liabilities Current
LiabilitiesCurrent
132633000 USD
us-gaap Payments To Acquire Intangible Assets
PaymentsToAcquireIntangibleAssets
3969000 USD
CY2016Q4 us-gaap Liabilities Current
LiabilitiesCurrent
144335000 USD
CY2014Q4 us-gaap Litigation Settlement Amount
LitigationSettlementAmount
466800000 USD
CY2016Q1 us-gaap Long Term Debt And Capital Lease Obligations
LongTermDebtAndCapitalLeaseObligations
185071000 USD
CY2016Q4 us-gaap Long Term Debt And Capital Lease Obligations
LongTermDebtAndCapitalLeaseObligations
152500000 USD
CY2016Q1 us-gaap Minority Interest
MinorityInterest
297000 USD
CY2016Q4 us-gaap Minority Interest
MinorityInterest
0 USD
us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
-40764000 USD
us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
-75348000 USD
us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-44006000 USD
us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-18429000 USD
us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
55733000 USD
us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
87830000 USD
CY2015Q4 us-gaap Net Income Loss
NetIncomeLoss
19325000 USD
us-gaap Net Income Loss
NetIncomeLoss
59199000 USD
CY2016Q4 us-gaap Net Income Loss
NetIncomeLoss
27773000 USD
us-gaap Net Income Loss
NetIncomeLoss
85373000 USD
CY2015Q4 us-gaap Net Income Loss Attributable To Noncontrolling Interest
NetIncomeLossAttributableToNoncontrollingInterest
-1396000 USD
us-gaap Net Income Loss Attributable To Noncontrolling Interest
NetIncomeLossAttributableToNoncontrollingInterest
-2752000 USD
CY2016Q4 us-gaap Net Income Loss Attributable To Noncontrolling Interest
NetIncomeLossAttributableToNoncontrollingInterest
0 USD
us-gaap Net Income Loss Attributable To Noncontrolling Interest
NetIncomeLossAttributableToNoncontrollingInterest
0 USD
CY2016Q1 us-gaap Noncurrent Assets
NoncurrentAssets
210323000 USD
CY2016Q4 us-gaap Noncurrent Assets
NoncurrentAssets
229865000 USD
CY2015Q4 us-gaap Nonoperating Income Expense
NonoperatingIncomeExpense
-1050000 USD
us-gaap Nonoperating Income Expense
NonoperatingIncomeExpense
-2022000 USD
CY2016Q4 us-gaap Nonoperating Income Expense
NonoperatingIncomeExpense
-546000 USD
us-gaap Nonoperating Income Expense
NonoperatingIncomeExpense
423000 USD
CY2015Q4 us-gaap Operating Expenses
OperatingExpenses
74092000 USD
us-gaap Operating Expenses
OperatingExpenses
224880000 USD
CY2016Q4 us-gaap Operating Expenses
OperatingExpenses
73518000 USD
us-gaap Operating Expenses
OperatingExpenses
229100000 USD
CY2015Q4 us-gaap Operating Income Loss
OperatingIncomeLoss
28140000 USD
us-gaap Operating Income Loss
OperatingIncomeLoss
83358000 USD
CY2016Q4 us-gaap Operating Income Loss
OperatingIncomeLoss
36604000 USD
us-gaap Operating Income Loss
OperatingIncomeLoss
110370000 USD
CY2016Q4 us-gaap Operating Leases Future Minimum Payments Due
OperatingLeasesFutureMinimumPaymentsDue
26149000 USD
CY2016Q4 us-gaap Operating Leases Future Minimum Payments Due In Five Years
OperatingLeasesFutureMinimumPaymentsDueInFiveYears
2607000 USD
CY2016Q4 us-gaap Operating Leases Future Minimum Payments Due In Four Years
OperatingLeasesFutureMinimumPaymentsDueInFourYears
4641000 USD
CY2016Q4 us-gaap Operating Leases Future Minimum Payments Due In Three Years
OperatingLeasesFutureMinimumPaymentsDueInThreeYears
5696000 USD
CY2016Q4 us-gaap Operating Leases Future Minimum Payments Due In Two Years
OperatingLeasesFutureMinimumPaymentsDueInTwoYears
5819000 USD
CY2016Q4 us-gaap Operating Leases Future Minimum Payments Due Thereafter
OperatingLeasesFutureMinimumPaymentsDueThereafter
5885000 USD
CY2016Q4 us-gaap Operating Leases Future Minimum Payments Remainder Of Fiscal Year
OperatingLeasesFutureMinimumPaymentsRemainderOfFiscalYear
1501000 USD
CY2016Q1 us-gaap Other Accrued Liabilities Current
OtherAccruedLiabilitiesCurrent
4351000 USD
CY2016Q4 us-gaap Other Accrued Liabilities Current
OtherAccruedLiabilitiesCurrent
7164000 USD
CY2015Q4 us-gaap Other Assets Current
OtherAssetsCurrent
37213000 USD
CY2016Q1 us-gaap Other Assets Current
OtherAssetsCurrent
23827000 USD
CY2015Q4 us-gaap Other Comprehensive Income Loss Foreign Currency Transaction And Translation Adjustment Net Of Tax
OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax
112000 USD
CY2016Q4 us-gaap Other Assets Current
OtherAssetsCurrent
37213000 USD
CY2016Q1 us-gaap Other Assets Miscellaneous Current
OtherAssetsMiscellaneousCurrent
3973000 USD
CY2016Q4 us-gaap Other Assets Miscellaneous Current
OtherAssetsMiscellaneousCurrent
8364000 USD
CY2016Q1 us-gaap Other Assets Noncurrent
OtherAssetsNoncurrent
6139000 USD
us-gaap Product Warranty Accrual Period Increase Decrease
ProductWarrantyAccrualPeriodIncreaseDecrease
679000 USD
CY2016Q4 us-gaap Other Assets Noncurrent
OtherAssetsNoncurrent
9144000 USD
CY2016Q4 us-gaap Other Commitment
OtherCommitment
500000 USD
CY2016Q4 us-gaap Other Liabilities Noncurrent
OtherLiabilitiesNoncurrent
488000 USD
us-gaap Payments For Repurchase Of Common Stock
PaymentsForRepurchaseOfCommonStock
130157000 USD
us-gaap Payments For Repurchase Of Common Stock
PaymentsForRepurchaseOfCommonStock
68218000 USD
us-gaap Other Comprehensive Income Loss Foreign Currency Transaction And Translation Adjustment Net Of Tax
OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax
-2246000 USD
CY2016Q4 us-gaap Other Comprehensive Income Loss Foreign Currency Transaction And Translation Adjustment Net Of Tax
OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax
-470000 USD
us-gaap Other Comprehensive Income Loss Foreign Currency Transaction And Translation Adjustment Net Of Tax
OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax
-280000 USD
CY2015Q4 us-gaap Other Comprehensive Income Loss Net Of Tax
OtherComprehensiveIncomeLossNetOfTax
18041000 USD
us-gaap Other Comprehensive Income Loss Net Of Tax
OtherComprehensiveIncomeLossNetOfTax
54201000 USD
CY2016Q4 us-gaap Other Comprehensive Income Loss Net Of Tax
OtherComprehensiveIncomeLossNetOfTax
27303000 USD
us-gaap Other Comprehensive Income Loss Net Of Tax
OtherComprehensiveIncomeLossNetOfTax
85093000 USD
CY2016Q1 us-gaap Other Liabilities Noncurrent
OtherLiabilitiesNoncurrent
80000 USD
us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
40520000 USD
us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
13697000 USD
CY2016Q1 us-gaap Preferred Stock Par Or Stated Value Per Share
PreferredStockParOrStatedValuePerShare
0.001
CY2016Q4 us-gaap Preferred Stock Par Or Stated Value Per Share
PreferredStockParOrStatedValuePerShare
0.001
CY2016Q1 us-gaap Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
5000000 shares
CY2016Q4 us-gaap Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
5000000 shares
CY2016Q1 us-gaap Preferred Stock Shares Issued
PreferredStockSharesIssued
0 shares
CY2016Q4 us-gaap Preferred Stock Shares Issued
PreferredStockSharesIssued
0 shares
CY2016Q1 us-gaap Preferred Stock Shares Outstanding
PreferredStockSharesOutstanding
0 shares
CY2016Q4 us-gaap Preferred Stock Shares Outstanding
PreferredStockSharesOutstanding
0 shares
CY2016Q1 us-gaap Preferred Stock Value Outstanding
PreferredStockValueOutstanding
0 USD
CY2016Q4 us-gaap Preferred Stock Value Outstanding
PreferredStockValueOutstanding
0 USD
CY2016Q1 us-gaap Prepaid Expense Current
PrepaidExpenseCurrent
9930000 USD
CY2016Q4 us-gaap Prepaid Expense Current
PrepaidExpenseCurrent
13023000 USD
CY2016Q1 us-gaap Prepaid Taxes
PrepaidTaxes
2404000 USD
CY2016Q4 us-gaap Prepaid Taxes
PrepaidTaxes
7996000 USD
us-gaap Proceeds From Payments To Minority Shareholders
ProceedsFromPaymentsToMinorityShareholders
4000 USD
us-gaap Proceeds From Payments To Minority Shareholders
ProceedsFromPaymentsToMinorityShareholders
0 USD
us-gaap Proceeds From Repayments Of Lines Of Credit
ProceedsFromRepaymentsOfLinesOfCredit
107500000 USD
us-gaap Proceeds From Repayments Of Lines Of Credit
ProceedsFromRepaymentsOfLinesOfCredit
45000000 USD
us-gaap Proceeds From Stock Options Exercised
ProceedsFromStockOptionsExercised
24942000 USD
us-gaap Proceeds From Stock Options Exercised
ProceedsFromStockOptionsExercised
26063000 USD
CY2015Q1 us-gaap Product Warranty Accrual
ProductWarrantyAccrual
1416000 USD
CY2015Q4 us-gaap Product Warranty Accrual
ProductWarrantyAccrual
1215000 USD
CY2016Q1 us-gaap Product Warranty Accrual
ProductWarrantyAccrual
1222000 USD
CY2016Q4 us-gaap Product Warranty Accrual
ProductWarrantyAccrual
1292000 USD
CY2016Q1 us-gaap Product Warranty Accrual Classified Current
ProductWarrantyAccrualClassifiedCurrent
1222000 USD
CY2016Q4 us-gaap Product Warranty Accrual Classified Current
ProductWarrantyAccrualClassifiedCurrent
1292000 USD
us-gaap Product Warranty Accrual Period Increase Decrease
ProductWarrantyAccrualPeriodIncreaseDecrease
722000 USD
us-gaap Product Warranty Accrual Preexisting Increase Decrease
ProductWarrantyAccrualPreexistingIncreaseDecrease
-52000 USD
us-gaap Product Warranty Accrual Preexisting Increase Decrease
ProductWarrantyAccrualPreexistingIncreaseDecrease
99000 USD
us-gaap Product Warranty Expense
ProductWarrantyExpense
828000 USD
us-gaap Product Warranty Expense
ProductWarrantyExpense
751000 USD
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Risk Free Interest Rate Minimum
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRateMinimum
0.010
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriod
1257000 shares
CY2015Q4 us-gaap Profit Loss
ProfitLoss
17929000 USD
us-gaap Profit Loss
ProfitLoss
56447000 USD
CY2016Q4 us-gaap Profit Loss
ProfitLoss
27773000 USD
us-gaap Profit Loss
ProfitLoss
85373000 USD
CY2016Q1 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
197938000 USD
CY2016Q4 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
203372000 USD
CY2016Q1 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
132466000 USD
CY2016Q4 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
133150000 USD
us-gaap Property Plant And Equipment Transfers And Changes
PropertyPlantAndEquipmentTransfersAndChanges
3400000 USD
us-gaap Provision For Doubtful Accounts
ProvisionForDoubtfulAccounts
506000 USD
us-gaap Provision For Doubtful Accounts
ProvisionForDoubtfulAccounts
127000 USD
CY2016Q4 us-gaap Purchase Commitment Remaining Minimum Amount Committed
PurchaseCommitmentRemainingMinimumAmountCommitted
42800000 USD
us-gaap Repayments Of Lines Of Credit
RepaymentsOfLinesOfCredit
42500000 USD
us-gaap Repayments Of Lines Of Credit
RepaymentsOfLinesOfCredit
77500000 USD
us-gaap Repayments Of Long Term Capital Lease Obligations
RepaymentsOfLongTermCapitalLeaseObligations
81000 USD
us-gaap Repayments Of Long Term Capital Lease Obligations
RepaymentsOfLongTermCapitalLeaseObligations
72000 USD
CY2015Q4 us-gaap Research And Development Expense
ResearchAndDevelopmentExpense
14485000 USD
us-gaap Research And Development Expense
ResearchAndDevelopmentExpense
42808000 USD
CY2016Q4 us-gaap Research And Development Expense
ResearchAndDevelopmentExpense
15673000 USD
us-gaap Research And Development Expense
ResearchAndDevelopmentExpense
44856000 USD
CY2016Q1 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
288560000 USD
CY2016Q4 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
373931000 USD
CY2015Q4 us-gaap Revenues
Revenues
152575000 USD
us-gaap Revenues
Revenues
462838000 USD
CY2016Q4 us-gaap Revenues
Revenues
167621000 USD
us-gaap Revenues
Revenues
511424000 USD
CY2015Q4 us-gaap Sales Revenue Goods Net
SalesRevenueGoodsNet
144603000 USD
us-gaap Sales Revenue Goods Net
SalesRevenueGoodsNet
439572000 USD
CY2016Q4 us-gaap Sales Revenue Goods Net
SalesRevenueGoodsNet
160286000 USD
us-gaap Sales Revenue Goods Net
SalesRevenueGoodsNet
488183000 USD
CY2015Q4 us-gaap Selling General And Administrative Expense
SellingGeneralAndAdministrativeExpense
59607000 USD
us-gaap Selling General And Administrative Expense
SellingGeneralAndAdministrativeExpense
182072000 USD
CY2016Q4 us-gaap Selling General And Administrative Expense
SellingGeneralAndAdministrativeExpense
57845000 USD
us-gaap Selling General And Administrative Expense
SellingGeneralAndAdministrativeExpense
184244000 USD
us-gaap Share Based Compensation
ShareBasedCompensation
8132000 USD
us-gaap Share Based Compensation
ShareBasedCompensation
9693000 USD
CY2015Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Dividend Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedDividendRate
0
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Dividend Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedDividendRate
0
CY2016Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Dividend Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedDividendRate
0
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Dividend Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedDividendRate
0
CY2015Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Volatility Rate Maximum
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRateMaximum
0.356
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Volatility Rate Maximum
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRateMaximum
0.374
CY2016Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Volatility Rate Maximum
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRateMaximum
0.319
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Volatility Rate Maximum
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRateMaximum
0.357
CY2015Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Volatility Rate Minimum
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRateMinimum
0.323
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Volatility Rate Minimum
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRateMinimum
0.320
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Risk Free Interest Rate Maximum
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRateMaximum
0.019
CY2016Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Number Of Shares Available For Grant
ShareBasedCompensationArrangementByShareBasedPaymentAwardNumberOfSharesAvailableForGrant
4300000 shares
CY2016Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercisable Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableNumber
5222000 shares
CY2016Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercisable Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableWeightedAverageExercisePrice
26.01
CY2016Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Volatility Rate Minimum
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRateMinimum
0.303
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Volatility Rate Minimum
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRateMinimum
0.303
CY2015Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Risk Free Interest Rate Maximum
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRateMaximum
0.018
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Risk Free Interest Rate Maximum
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRateMaximum
0.019
CY2016Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Risk Free Interest Rate Maximum
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRateMaximum
0.013
CY2016Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercises In Period Total Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisesInPeriodTotalIntrinsicValue
11800000 USD
CY2015Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Risk Free Interest Rate Minimum
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRateMinimum
0.015
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Risk Free Interest Rate Minimum
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRateMinimum
0.013
CY2016Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Risk Free Interest Rate Minimum
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRateMinimum
0.010
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercises In Period Total Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisesInPeriodTotalIntrinsicValue
37100000 USD
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Forfeitures In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresInPeriod
141000 shares
CY2015Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Weighted Average Grant Date Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageGrantDateFairValue
14.09
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Weighted Average Grant Date Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageGrantDateFairValue
11.82
CY2016Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Weighted Average Grant Date Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageGrantDateFairValue
17.99
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Weighted Average Grant Date Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageGrantDateFairValue
13.42
CY2016Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingIntrinsicValue
283800000 USD
CY2016Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
9202000 shares
CY2016Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
9026000 shares
CY2016Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
25.46
CY2016Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
28.05
CY2016Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Vested And Expected To Vest Exercisable Aggregate Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestExercisableAggregateIntrinsicValue
174800000 USD
us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Exercises In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsExercisesInPeriodWeightedAverageExercisePrice
20.43
us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Forfeitures In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsForfeituresInPeriodWeightedAverageExercisePrice
29.32
us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Grants In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageExercisePrice
39.34
CY2015Q4 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Fair Value Assumptions Expected Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardFairValueAssumptionsExpectedTerm1
P5Y6M
us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Fair Value Assumptions Expected Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardFairValueAssumptionsExpectedTerm1
P5Y6M
CY2016Q4 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Fair Value Assumptions Expected Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardFairValueAssumptionsExpectedTerm1
P5Y8M9D
us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Fair Value Assumptions Expected Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardFairValueAssumptionsExpectedTerm1
P5Y8M9D
us-gaap Stock Issued During Period Shares Stock Options Exercised
StockIssuedDuringPeriodSharesStockOptionsExercised
1292000 shares
CY2015Q3 us-gaap Stock Repurchase Program Number Of Shares Authorized To Be Repurchased
StockRepurchaseProgramNumberOfSharesAuthorizedToBeRepurchased
5000000.0 shares
CY2016Q4 us-gaap Stock Repurchase Program Remaining Authorized Repurchase Amount1
StockRepurchaseProgramRemainingAuthorizedRepurchaseAmount1
2900000 USD
CY2016Q1 us-gaap Stockholders Equity
StockholdersEquity
275415000 USD
CY2016Q4 us-gaap Stockholders Equity
StockholdersEquity
333187000 USD
CY2016Q1 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
275712000 USD
CY2016Q4 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
333187000 USD
CY2016Q1 us-gaap Taxes Payable Current
TaxesPayableCurrent
2777000 USD
CY2016Q4 us-gaap Taxes Payable Current
TaxesPayableCurrent
1941000 USD
CY2016Q4 us-gaap Time Deposits At Carrying Value
TimeDepositsAtCarryingValue
62500000 USD
CY2016Q1 us-gaap Treasury Stock Shares
TreasuryStockShares
12759 shares
CY2016Q4 us-gaap Treasury Stock Shares
TreasuryStockShares
14255 shares
CY2016Q1 us-gaap Treasury Stock Value
TreasuryStockValue
340873000 USD
CY2016Q4 us-gaap Treasury Stock Value
TreasuryStockValue
404276000 USD
CY2016Q4 us-gaap Unrecognized Tax Benefits
UnrecognizedTaxBenefits
9400000 USD
CY2016Q4 us-gaap Unrecognized Tax Benefits That Would Impact Effective Tax Rate
UnrecognizedTaxBenefitsThatWouldImpactEffectiveTaxRate
8000000 USD
CY2015Q4 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
53686000 shares
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
53946000 shares
CY2016Q4 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
53565000 shares
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
52837000 shares
CY2015Q4 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
50974000 shares
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
51653000 shares
CY2016Q4 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
49477000 shares
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
49386000 shares
us-gaap Fiscal Period
FiscalPeriod
<div style="font-family:Times New Roman;font-size:10pt;"><div style="line-height:120%;padding-top:17px;text-indent:16px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-style:italic;font-weight:bold;">Fiscal Periods</font></div><div style="line-height:120%;padding-top:6px;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">The Company follows a conventional 52/53 week fiscal year. Under a conventional 52/53 week fiscal year, a 52 week fiscal year includes four quarters of 13 fiscal weeks while a 53 week fiscal year includes three 13 fiscal week quarters and one 14 fiscal week quarter. The Company&#8217;s last 53 week fiscal year was fiscal year 2014. Fiscal year </font><font style="font-family:inherit;font-size:10pt;">2016</font><font style="font-family:inherit;font-size:10pt;"> is a 52 week fiscal year. All references to years in these notes to condensed consolidated financial statements are fiscal years unless otherwise noted.</font></div></div>
us-gaap Nature Of Operations
NatureOfOperations
<div style="font-family:Times New Roman;font-size:10pt;"><div style="line-height:120%;padding-top:17px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-weight:bold;"> Description of the Company</font></div><div style="line-height:120%;padding-top:6px;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Masimo Corporation (the Company) is a global medical technology company that develops, manufactures and markets a variety of noninvasive patient monitoring technologies. The Company&#8217;s mission is to improve patient outcomes and reduce cost of care by taking noninvasive monitoring to new sites and applications. The Company&#8217;s patient monitoring solutions generally incorporate a monitor or circuit board, proprietary single-patient use, reusable or resposable sensors, software and/or cables. The Company primarily sells its products to hospitals, emergency medical service providers, home care providers, physician offices, veterinarians, long term care facilities and consumers through its direct sales force, distributors and original equipment manufacturer (OEM) partners.</font></div><div style="line-height:120%;padding-top:12px;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">The Company invented Masimo Signal Extraction Technology</font><font style="font-family:inherit;font-size:8pt;"><sup style="vertical-align:top;line-height:120%;font-size:5pt">&#174;</sup></font><font style="font-family:inherit;font-size:7pt;"><sup style="vertical-align:top;line-height:120%;font-size:5pt"> </sup></font><font style="font-family:inherit;font-size:10pt;">(SET</font><font style="font-family:inherit;font-size:8pt;"><sup style="vertical-align:top;line-height:120%;font-size:5pt">&#174;</sup></font><font style="font-family:inherit;font-size:10pt;">), which provides the capabilities of Measure-through Motion and Low Perfusion</font><font style="font-family:inherit;font-size:8pt;"><sup style="vertical-align:top;line-height:120%;font-size:5pt">&#8482;</sup></font><font style="font-family:inherit;font-size:10pt;"> pulse oximetry to address the primary limitations of conventional pulse oximetry. Over the years, the Company&#8217;s product offerings have expanded significantly to also include noninvasive optical blood constituent monitoring, optical organ oximetry monitoring, electrical brain function monitoring, acoustic respiration monitoring and optical gas monitoring. The Company also developed the Root</font><font style="font-family:inherit;font-size:8pt;"><sup style="vertical-align:top;line-height:120%;font-size:5pt">&#174;</sup></font><font style="font-family:inherit;font-size:10pt;"> patient monitoring and connectivity platform and the Masimo Patient SafetyNet</font><font style="font-family:inherit;font-size:8pt;"><sup style="vertical-align:top;line-height:120%;font-size:5pt">&#8482;</sup></font><font style="font-family:inherit;font-size:10pt;"> remote patient surveillance monitoring system. These solutions and related products are based upon Masimo SET</font><font style="font-family:inherit;font-size:8pt;"><sup style="vertical-align:top;line-height:120%;font-size:5pt">&#174;</sup></font><font style="font-family:inherit;font-size:10pt;">, rainbow</font><font style="font-family:inherit;font-size:8pt;"><sup style="vertical-align:top;line-height:120%;font-size:5pt">&#174;</sup></font><font style="font-family:inherit;font-size:10pt;"> and other proprietary algorithms. These software-based technologies are incorporated into a variety of product platforms depending on customers&#8217; specifications. This technology is supported by a substantial intellectual property portfolio that the Company has built through internal development and, to a lesser extent, acquisitions and license agreements.</font></div></div>
us-gaap Prior Period Reclassification Adjustment Description
PriorPeriodReclassificationAdjustmentDescription
<div style="font-family:Times New Roman;font-size:10pt;"><div style="line-height:120%;padding-top:17px;text-align:left;padding-left:18px;font-size:12pt;"><font style="font-family:inherit;font-size:10pt;font-style:italic;font-weight:bold;">Reclassifications</font><font style="font-family:inherit;font-size:12pt;"> </font></div><div style="line-height:120%;padding-top:6px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Certain amounts in the condensed consolidated financial statements for prior periods have been reclassified to conform to the current period presentation. </font></div></div>
us-gaap Use Of Estimates
UseOfEstimates
<div style="font-family:Times New Roman;font-size:10pt;"><div style="line-height:120%;padding-top:17px;text-indent:16px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-style:italic;font-weight:bold;">Use of Estimates</font></div><div style="line-height:120%;padding-top:6px;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">The Company prepares its financial statements in conformity with GAAP, which requires the Company to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the dates of the financial statements and the reported amounts of revenues and expenses during the reporting periods. Significant estimates include the determination of accounts receivable allowances, inventory reserves, warranty reserves, rebate accruals, valuation of the Company&#8217;s stock options, goodwill valuation, deferred taxes and any associated valuation allowances, distributor channel inventory, royalty revenues, deferred revenue, uncertain income tax positions, litigation costs and related accruals. Actual results could differ from such estimates.</font></div><div style="line-height:120%;padding-top:17px;text-align:left;padding-left:18px;font-size:12pt;"><font style="font-family:inherit;font-size:10pt;font-style:italic;font-weight:bold;"></font></div></div>

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