$MASI
MASIMO CORP

2012 Q3 Form 10-Q Financial Statement

#000119312512447065 Filed on November 02, 2012

View on sec.gov

Income Statement

Concept 2012 Q3 2011 Q4
Revenue $119.1M $112.3M
YoY Change 8.67% 11.23%
Cost Of Revenue $40.74M $35.60M
YoY Change 18.76% 21.09%
Gross Profit $78.33M $73.61M
YoY Change 4.1% 2.81%
Gross Profit Margin 65.79% 65.53%
Selling, General & Admin $48.26M $40.13M
YoY Change 10.43% 1.61%
% of Gross Profit 61.61% 54.52%
Research & Development $12.12M $9.372M
YoY Change 28.95% 1.87%
% of Gross Profit 15.47% 12.73%
Depreciation & Amortization $2.500M $1.800M
YoY Change 38.89% 12.5%
% of Gross Profit 3.19% 2.45%
Operating Expenses $60.38M $49.51M
YoY Change 13.71% 1.45%
Operating Profit $17.95M $20.06M
YoY Change -18.89% -12.0%
Interest Expense
YoY Change
% of Operating Profit
Other Income/Expense, Net $912.0K -$240.0K
YoY Change 82.4% -120.0%
Pretax Income $18.86M $18.69M
YoY Change -16.9% -22.44%
Income Tax $5.301M $3.869M
% Of Pretax Income 28.1% 20.7%
Net Earnings $13.79M $13.82M
YoY Change -19.04% -15.73%
Net Earnings / Revenue 11.58% 12.3%
Basic Earnings Per Share $0.24 $0.23
Diluted Earnings Per Share $0.24 $0.23
COMMON SHARES
Basic Shares Outstanding 57.20M shares 59.97M shares
Diluted Shares Outstanding 58.15M shares 61.09M shares

Balance Sheet

Concept 2012 Q3 2011 Q4
SHORT-TERM ASSETS
Cash & Short-Term Investments $113.0M $143.2M
YoY Change -10.1% 14.19%
Cash & Equivalents $113.0M $129.9M
Short-Term Investments
Other Short-Term Assets $3.554M $2.008M
YoY Change -85.43% -89.03%
Inventory $48.98M $45.94M
Prepaid Expenses $12.93M $6.424M
Receivables $63.00M $57.01M
Other Receivables $7.200M $6.800M
Total Short-Term Assets $260.2M $262.9M
YoY Change 2.32% 6.06%
LONG-TERM ASSETS
Property, Plant & Equipment $23.03M $15.24M
YoY Change 52.5% 10.43%
Goodwill $22.75M $448.0K
YoY Change
Intangibles $27.29M $11.39M
YoY Change
Long-Term Investments
YoY Change
Other Assets $7.511M $7.644M
YoY Change -89.55% -86.05%
Total Long-Term Assets $149.4M $103.2M
YoY Change 53.41% 30.59%
TOTAL ASSETS
Total Short-Term Assets $260.2M $262.9M
Total Long-Term Assets $149.4M $103.2M
Total Assets $409.6M $366.1M
YoY Change 16.47% 11.99%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $26.02M $27.30M
YoY Change 29.47% 14.23%
Accrued Expenses $16.58M $12.30M
YoY Change -34.98% -59.42%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due $100.0K $0.00
YoY Change -100.0%
Total Short-Term Liabilities $84.49M $75.95M
YoY Change 35.62% 8.66%
LONG-TERM LIABILITIES
Long-Term Debt $100.0K $100.0K
YoY Change 0.0% 0.0%
Other Long-Term Liabilities $10.07M $9.427M
YoY Change -2.23% -0.77%
Total Long-Term Liabilities $10.07M $9.427M
YoY Change -3.17% -1.8%
TOTAL LIABILITIES
Total Short-Term Liabilities $84.49M $75.95M
Total Long-Term Liabilities $10.07M $9.427M
Total Liabilities $95.35M $86.44M
YoY Change 26.96% 6.32%
SHAREHOLDERS EQUITY
Retained Earnings $116.6M $69.36M
YoY Change
Common Stock
YoY Change
Preferred Stock
YoY Change
Treasury Stock (at cost) $63.66M $37.40M
YoY Change
Treasury Stock Shares 3.156M shares 2.001M shares
Shareholders Equity $311.5M $276.8M
YoY Change
Total Liabilities & Shareholders Equity $409.6M $366.1M
YoY Change 16.47% 11.99%

Cashflow Statement

Concept 2012 Q3 2011 Q4
OPERATING ACTIVITIES
Net Income $13.79M $13.82M
YoY Change -19.04% -15.73%
Depreciation, Depletion And Amortization $2.500M $1.800M
YoY Change 38.89% 12.5%
Cash From Operating Activities $25.80M $19.30M
YoY Change 38.71% 21.38%
INVESTING ACTIVITIES
Capital Expenditures -$4.600M -$2.200M
YoY Change 170.59% -12.0%
Acquisitions
YoY Change
Other Investing Activities -$30.20M $0.00
YoY Change
Cash From Investing Activities -$34.90M -$2.200M
YoY Change 1952.94% -8.33%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 500.0K 400.0K
YoY Change -82.14% -20.0%
NET CHANGE
Cash From Operating Activities 25.80M 19.30M
Cash From Investing Activities -34.90M -2.200M
Cash From Financing Activities 500.0K 400.0K
Net Change In Cash -8.600M 17.50M
YoY Change -143.65% 25.0%
FREE CASH FLOW
Cash From Operating Activities $25.80M $19.30M
Capital Expenditures -$4.600M -$2.200M
Free Cash Flow $30.40M $21.50M
YoY Change 49.75% 16.85%

Facts In Submission

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CashAndCashEquivalentsPeriodIncreaseDecrease
54887000
us-gaap Increase Decrease In Prepaid Expense
IncreaseDecreaseInPrepaidExpense
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us-gaap Payments To Acquire Intangible Assets
PaymentsToAcquireIntangibleAssets
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us-gaap Operating Income Loss
OperatingIncomeLoss
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us-gaap Inventory Write Down
InventoryWriteDown
1879000
us-gaap Earnings Per Share Basic
EarningsPerShareBasic
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us-gaap Increase Decrease In Inventories
IncreaseDecreaseInInventories
2374000
us-gaap Cost Of Goods Sold
CostOfGoodsSold
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us-gaap Net Income Loss
NetIncomeLoss
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us-gaap Nonoperating Income Expense
NonoperatingIncomeExpense
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us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
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IncreaseDecreaseInEmployeeRelatedLiabilities
-2744000
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Volatility Rate Minimum
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRateMinimum
0.367 pure
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
61082000 shares
us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
5589000
us-gaap Increase Decrease In Deferred Charges
IncreaseDecreaseInDeferredCharges
4321000
us-gaap Gross Profit
GrossProfit
220522000
us-gaap Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
50249000
us-gaap Operating Expenses
OperatingExpenses
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us-gaap Revenues
Revenues
326647000
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Risk Free Interest Rate Maximum
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRateMaximum
0.025 pure
us-gaap Selling General And Administrative Expense
SellingGeneralAndAdministrativeExpense
125275000
us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
17049000
us-gaap Effect Of Exchange Rate On Cash And Cash Equivalents
EffectOfExchangeRateOnCashAndCashEquivalents
459000
us-gaap Net Income Loss Attributable To Noncontrolling Interest
NetIncomeLossAttributableToNoncontrollingInterest
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us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
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us-gaap Excess Tax Benefit From Share Based Compensation Financing Activities
ExcessTaxBenefitFromShareBasedCompensationFinancingActivities
58000
us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
10200000
us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
4100000 shares
us-gaap Lease And Rental Expense
LeaseAndRentalExpense
2800000
us-gaap Unrecognized Tax Benefits Interest On Income Taxes Expense
UnrecognizedTaxBenefitsInterestOnIncomeTaxesExpense
200000
us-gaap Increase Decrease In Accrued Liabilities
IncreaseDecreaseInAccruedLiabilities
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us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Weighted Average Grant Date Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageGrantDateFairValue
11.50
us-gaap Increase Decrease In Accrued Income Taxes Payable
IncreaseDecreaseInAccruedIncomeTaxesPayable
1249000
us-gaap Increase Decrease In Accounts Payable
IncreaseDecreaseInAccountsPayable
-2146000
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Dividend Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedDividendRate
0 pure
us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
54066000
us-gaap Excess Tax Benefit From Share Based Compensation Operating Activities
ExcessTaxBenefitFromShareBasedCompensationOperatingActivities
58000
masi Defined Contribution Plan Contributions By Employer
DefinedContributionPlanContributionsByEmployer
900000
masi Income Tax Benefit From Exercise Of Stock Options Granted
IncomeTaxBenefitFromExerciseOfStockOptionsGranted
1290000
masi Increase Decrease In Royalties Receivable
IncreaseDecreaseInRoyaltiesReceivable
-5264000
masi Product Revenue
ProductRevenue
301771000
masi Royalty
Royalty
24876000
masi Percentage Of Product Revenue Based On Geographic Area By Destination
PercentageOfProductRevenueBasedOnGeographicAreaByDestination
1.00 pure
masi Percentage Of Revenue One Customer
PercentageOfRevenueOneCustomer
0.14 pure
masi Percentage Of Revenue Two Customer
PercentageOfRevenueTwoCustomer
0.10 pure
dei Document Fiscal Period Focus
DocumentFiscalPeriodFocus
Q3
dei Document Fiscal Year Focus
DocumentFiscalYearFocus
2012
dei Document Type
DocumentType
10-Q
dei Document Period End Date
DocumentPeriodEndDate
2012-09-29
dei Entity Central Index Key
EntityCentralIndexKey
0000937556
dei Current Fiscal Year End Date
CurrentFiscalYearEndDate
--12-29
dei Trading Symbol
TradingSymbol
MASI
dei Entity Registrant Name
EntityRegistrantName
MASIMO CORP
dei Amendment Flag
AmendmentFlag
false
dei Entity Filer Category
EntityFilerCategory
Large Accelerated Filer
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Risk Free Interest Rate Minimum
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRateMinimum
0.007 pure
us-gaap Goodwill And Intangible Asset Impairment
GoodwillAndIntangibleAssetImpairment
0
us-gaap Stock Issued During Period Shares Stock Options Exercised
StockIssuedDuringPeriodSharesStockOptionsExercised
140000 shares
us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
6509000
us-gaap Increase Decrease In Other Operating Liabilities
IncreaseDecreaseInOtherOperatingLiabilities
-2196000
us-gaap Other Comprehensive Income Loss Net Of Tax Portion Attributable To Noncontrolling Interest
OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToNoncontrollingInterest
us-gaap Proceeds From Stock Options Exercised
ProceedsFromStockOptionsExercised
1034000
us-gaap Repayments Of Long Term Debt
RepaymentsOfLongTermDebt
12000
us-gaap Increase Decrease In Other Operating Assets
IncreaseDecreaseInOtherOperatingAssets
1316000
us-gaap Profit Loss
ProfitLoss
47097000
us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-48115000
us-gaap Product Warranty Expense
ProductWarrantyExpense
1790000
us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Exercises In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsExercisesInPeriodWeightedAverageExercisePrice
7.39
us-gaap Employee Service Share Based Compensation Nonvested Awards Total Compensation Cost Not Yet Recognized Period For Recognition1
EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognizedPeriodForRecognition1
P6Y6M
us-gaap Research And Development Expense
ResearchAndDevelopmentExpense
33736000
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Volatility Rate Maximum
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRateMaximum
0.426 pure
us-gaap Product Warranty Accrual Period Increase Decrease
ProductWarrantyAccrualPeriodIncreaseDecrease
1866000
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
57507000 shares
us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Exercisable Weighted Average Remaining Contractual Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExercisableWeightedAverageRemainingContractualTerm1
P4Y1M6D
us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0.250 pure
us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Fair Value Assumptions Expected Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardFairValueAssumptionsExpectedTerm1
P5Y6M
us-gaap Treasury Stock Value Acquired Cost Method
TreasuryStockValueAcquiredCostMethod
26300000
us-gaap Increase Decrease In Deferred Revenue
IncreaseDecreaseInDeferredRevenue
2490000
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IncreaseDecreaseInAccountsReceivable
4982000
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OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax
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us-gaap Income Loss From Continuing Operations Before Income Taxes Minority Interest And Income Loss From Equity Method Investments
IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments
62821000
us-gaap Treasury Stock Acquired Average Cost Per Share
TreasuryStockAcquiredAverageCostPerShare
22.74
us-gaap Tax Adjustments Settlements And Unusual Provisions
TaxAdjustmentsSettlementsAndUnusualProvisions
2400000
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercises In Period Total Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisesInPeriodTotalIntrinsicValue
2100000
us-gaap Share Based Compensation
ShareBasedCompensation
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us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Grants In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageExercisePrice
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us-gaap Provision For Doubtful Accounts
ProvisionForDoubtfulAccounts
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us-gaap Gain Loss On Sale Of Derivatives
GainLossOnSaleOfDerivatives
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us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
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us-gaap Increase Decrease In Prepaid Expense
IncreaseDecreaseInPrepaidExpense
2888000
us-gaap Payments To Acquire Intangible Assets
PaymentsToAcquireIntangibleAssets
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OperatingIncomeLoss
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us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Forfeitures In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsForfeituresInPeriodWeightedAverageExercisePrice
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us-gaap Cash And Cash Equivalents Period Increase Decrease
CashAndCashEquivalentsPeriodIncreaseDecrease
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us-gaap Treasury Stock Shares Acquired
TreasuryStockSharesAcquired
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us-gaap Inventory Write Down
InventoryWriteDown
617000
us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.82
us-gaap Nature Of Operations
NatureOfOperations
<div> <p style="margin-top:12px;margin-bottom:0px"><font style="font-family:Times New Roman" size="2"><b>1. Description of the Company</b></font></p> <p style="margin-top:6px;margin-bottom:0px;padding-bottom:0px;"> <font style="font-family:Times New Roman" size="2">Masimo Corporation, or the Company, is a global medical technology company that develops, manufactures, and markets noninvasive patient monitoring products. The Company&#x2019;s mission is to improve patient outcomes and reduce cost of care by taking noninvasive monitoring to new sites and applications. The Company invented Masimo Signal Extraction Technology, or Masimo SET<font style="font-family:Times New Roman" size="1"><sup style="vertical-align:baseline; position:relative; bottom:.8ex">&#xAE;</sup></font>, which provides the capabilities of Measure-Through Motion and Low Perfusion pulse oximetry to address the primary limitations of conventional pulse oximetry. The Company has also developed Masimo rainbow<font style="font-family:Times New Roman" size="1"><sup style="vertical-align:baseline; position:relative; bottom:.8ex">&#xAE;</sup></font> SET products which monitor multiple blood measurements, including oxygen content, carboxyhemoglobin, methemoglobin and hemoglobin. Additional rainbow<font style="font-family:Times New Roman" size="1"><sup style="vertical-align:baseline; position:relative; bottom:.8ex">&#xAE;</sup></font> SET measurements that assist clinicians are Pleth Variability Index, respiration rate and Halo Index</font><font style="font-family:Times New Roman" size="1"><sup style="vertical-align:baseline; position:relative; bottom:.8ex">TM</sup></font><font style="font-family:Times New Roman" size="2">. The Company develops, manufactures and markets a family of patient monitoring solutions which incorporate a monitor or circuit board and sensors, including proprietary single-patient use, reusable and resposable sensors, and cables. The Company considers the pulse oximetry device (monitor or circuit board), its sensors and cables and software fees to be products as defined in its condensed consolidated statements of comprehensive income. The Company sells to hospitals and the alternate care market through its direct sales force and distributors, and markets its circuit boards containing the Company&#x2019;s proprietary algorithm and software architecture to original equipment manufacturer, or OEM, partners.</font></p> </div>
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IncreaseDecreaseInInventories
1700000
us-gaap Cost Of Goods Sold
CostOfGoodsSold
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us-gaap Deferred Income Tax Expense Benefit
DeferredIncomeTaxExpenseBenefit
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us-gaap Net Income Loss
NetIncomeLoss
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us-gaap Nonoperating Income Expense
NonoperatingIncomeExpense
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us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriod
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us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.81
us-gaap Payments For Repurchase Of Common Stock
PaymentsForRepurchaseOfCommonStock
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us-gaap Increase Decrease In Employee Related Liabilities
IncreaseDecreaseInEmployeeRelatedLiabilities
2344000
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Volatility Rate Minimum
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRateMinimum
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us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
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ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRateMaximum
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CY2011Q4 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
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us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
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us-gaap Increase Decrease In Deferred Charges
IncreaseDecreaseInDeferredCharges
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us-gaap Gross Profit
GrossProfit
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us-gaap Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
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us-gaap Operating Expenses
OperatingExpenses
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us-gaap Revenues
Revenues
361072000
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Risk Free Interest Rate Maximum
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRateMaximum
0.013 pure
us-gaap Selling General And Administrative Expense
SellingGeneralAndAdministrativeExpense
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us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
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us-gaap Effect Of Exchange Rate On Cash And Cash Equivalents
EffectOfExchangeRateOnCashAndCashEquivalents
-239000
us-gaap Net Income Loss Attributable To Noncontrolling Interest
NetIncomeLossAttributableToNoncontrollingInterest
-168000
us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
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us-gaap Excess Tax Benefit From Share Based Compensation Financing Activities
ExcessTaxBenefitFromShareBasedCompensationFinancingActivities
-340000
us-gaap Payments To Acquire Businesses Gross
PaymentsToAcquireBusinessesGross
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us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Forfeitures In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresInPeriod
310000 shares
us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
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us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
6400000 shares
us-gaap Lease And Rental Expense
LeaseAndRentalExpense
3300000
us-gaap Use Of Estimates
UseOfEstimates
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us-gaap Unrecognized Tax Benefits Interest On Income Taxes Expense
UnrecognizedTaxBenefitsInterestOnIncomeTaxesExpense
100000
us-gaap Increase Decrease In Accrued Liabilities
IncreaseDecreaseInAccruedLiabilities
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us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Weighted Average Grant Date Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageGrantDateFairValue
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us-gaap Increase Decrease In Accrued Income Taxes Payable
IncreaseDecreaseInAccruedIncomeTaxesPayable
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us-gaap Increase Decrease In Accounts Payable
IncreaseDecreaseInAccountsPayable
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us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Dividend Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedDividendRate
0 pure
us-gaap Payments For Proceeds From Derivative Instrument Financing Activities
PaymentsForProceedsFromDerivativeInstrumentFinancingActivities
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us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
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us-gaap Fiscal Period
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us-gaap Adjustments To Additional Paid In Capital Reallocation Of Minority Interest
AdjustmentsToAdditionalPaidInCapitalReallocationOfMinorityInterest
60000
us-gaap Excess Tax Benefit From Share Based Compensation Operating Activities
ExcessTaxBenefitFromShareBasedCompensationOperatingActivities
-340000
masi Long Term Sales Agreement Warranty Minimum
LongTermSalesAgreementWarrantyMinimum
P3Y
masi Initial Term Of Executive Employment Agreement
InitialTermOfExecutiveEmploymentAgreement
P3Y
masi Defined Contribution Plan Contributions By Employer
DefinedContributionPlanContributionsByEmployer
1000000
masi Number Of Days After Which Royalty Report And Payment Is Received
NumberOfDaysAfterWhichRoyaltyReportAndPaymentIsReceived
P60D
masi Long Term Sales Agreement Warranty Maximum
LongTermSalesAgreementWarrantyMaximum
P6Y
masi Income Tax Benefit From Exercise Of Stock Options Granted
IncomeTaxBenefitFromExerciseOfStockOptionsGranted
259000
masi Increase Decrease In Royalties Receivable
IncreaseDecreaseInRoyaltiesReceivable
67000
masi Product Revenue
ProductRevenue
339644000
masi Royalty
Royalty
21428000
masi Employee Contribution Percentage Limit For Full Consideration Under Employee Retirement Savings Plan
EmployeeContributionPercentageLimitForFullConsiderationUnderEmployeeRetirementSavingsPlan
1.00 pure
masi Company Contribution Percentage Based On Employee Contribution
CompanyContributionPercentageBasedOnEmployeeContribution
0.03 pure
masi Rate Of Royalty Agreed To Be Paid
RateOfRoyaltyAgreedToBePaid
0.0775 pure
masi Percentage Of Accounts Receivable Balance From One Just In Time Distributor
PercentageOfAccountsReceivableBalanceFromOneJustInTimeDistributor
0.10 pure
masi Percentage Of Accounts Receivable Balance From One Other Just In Time Distributor
PercentageOfAccountsReceivableBalanceFromOneOtherJustInTimeDistributor
0.09 pure
masi Percentage Of Executive Officers Unvested And Outstanding Stock Options
PercentageOfExecutiveOfficersUnvestedAndOutstandingStockOptions
0.50 pure
masi Percentage Of Product Revenue Based On Geographic Area By Destination
PercentageOfProductRevenueBasedOnGeographicAreaByDestination
1.00 pure
masi Percentage Of Revenue One Customer
PercentageOfRevenueOneCustomer
0.14 pure
masi Percentage Of Revenue Two Customer
PercentageOfRevenueTwoCustomer
0.12 pure
masi Cash Equivalents Maximum Maturity Period
CashEquivalentsMaximumMaturityPeriod
three months or less
CY2005Q4 masi Option Fees
OptionFees
7500000
CY2011 us-gaap Stock Issued During Period Shares Employee Stock Purchase Plans
StockIssuedDuringPeriodSharesEmployeeStockPurchasePlans
629000 shares
CY2011 us-gaap Treasury Stock Value Acquired Cost Method
TreasuryStockValueAcquiredCostMethod
36200000
CY2011 us-gaap Treasury Stock Acquired Average Cost Per Share
TreasuryStockAcquiredAverageCostPerShare
19.61
CY2011 us-gaap Treasury Stock Shares Acquired
TreasuryStockSharesAcquired
1800000 shares
CY2011 masi Percentage Of Accounts Receivable Balance From One Just In Time Distributor
PercentageOfAccountsReceivableBalanceFromOneJustInTimeDistributor
0.05 pure
CY2011 masi Percentage Of Shares Outstanding
PercentageOfSharesOutstanding
0.03 pure
CY2011Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Risk Free Interest Rate Minimum
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRateMinimum
0.010 pure
CY2011Q4 us-gaap Goodwill And Intangible Asset Impairment
GoodwillAndIntangibleAssetImpairment
0
CY2011Q4 us-gaap Profit Loss
ProfitLoss
14824000
CY2011Q4 us-gaap Research And Development Expense
ResearchAndDevelopmentExpense
9372000
CY2011Q4 us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0.207 pure
CY2011Q4 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Fair Value Assumptions Expected Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardFairValueAssumptionsExpectedTerm1
P5Y3M18D
CY2011Q4 us-gaap Other Comprehensive Income Loss Foreign Currency Transaction And Translation Adjustment Net Of Tax
OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax
202000
CY2012Q3 us-gaap Net Income Loss
NetIncomeLoss
13794000
CY2012Q3 us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
944000 shares
CY2012Q3 us-gaap Treasury Stock Shares Acquired
TreasuryStockSharesAcquired
0 shares
CY2012Q3 us-gaap Operating Income Loss
OperatingIncomeLoss
17952000
CY2012Q3 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.24
CY2012Q3 us-gaap Cost Of Goods Sold
CostOfGoodsSold
40736000
CY2011Q4 us-gaap Income Loss From Continuing Operations Before Income Taxes Minority Interest And Income Loss From Equity Method Investments
IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments
18693000
CY2011Q4 us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
1115000 shares
CY2011Q4 us-gaap Operating Income Loss
OperatingIncomeLoss
18933000
CY2011Q4 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.25
CY2011Q4 us-gaap Cost Of Goods Sold
CostOfGoodsSold
35601000
CY2011Q4 us-gaap Net Income Loss
NetIncomeLoss
14829000
CY2011Q4 us-gaap Nonoperating Income Expense
NonoperatingIncomeExpense
-240000
CY2011Q4 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.24
CY2011Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Volatility Rate Minimum
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRateMinimum
0.367 pure
CY2011Q4 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
61086000 shares
CY2011Q4 us-gaap Gross Profit
GrossProfit
68439000
CY2011Q4 us-gaap Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
15031000
CY2011Q4 us-gaap Operating Expenses
OperatingExpenses
49506000
CY2011Q4 us-gaap Revenues
Revenues
104040000
CY2011Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Risk Free Interest Rate Maximum
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRateMaximum
0.019 pure
CY2011Q4 us-gaap Selling General And Administrative Expense
SellingGeneralAndAdministrativeExpense
40134000
CY2011Q4 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
3869000
CY2011Q4 us-gaap Net Income Loss Attributable To Noncontrolling Interest
NetIncomeLossAttributableToNoncontrollingInterest
-5000
CY2011Q4 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
2600000
CY2011Q4 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
5000000 shares
CY2011Q4 us-gaap Lease And Rental Expense
LeaseAndRentalExpense
1000000
CY2011Q4 us-gaap Unrecognized Tax Benefits Interest On Income Taxes Expense
UnrecognizedTaxBenefitsInterestOnIncomeTaxesExpense
100000
CY2011Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Weighted Average Grant Date Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageGrantDateFairValue
10.34
CY2011Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Dividend Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedDividendRate
0 pure
CY2011Q4 masi Defined Contribution Plan Contributions By Employer
DefinedContributionPlanContributionsByEmployer
300000
CY2011Q4 masi Product Revenue
ProductRevenue
97639000
CY2011Q4 masi Royalty
Royalty
6401000
CY2011Q4 masi Percentage Of Product Revenue Based On Geographic Area By Destination
PercentageOfProductRevenueBasedOnGeographicAreaByDestination
1.00 pure
CY2011Q4 masi Percentage Of Revenue One Customer
PercentageOfRevenueOneCustomer
0.14 pure
CY2011Q4 masi Percentage Of Revenue Two Customer
PercentageOfRevenueTwoCustomer
0.10 pure
CY2012Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Risk Free Interest Rate Minimum
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRateMinimum
0.007 pure
CY2012Q3 us-gaap Goodwill And Intangible Asset Impairment
GoodwillAndIntangibleAssetImpairment
0
CY2012Q3 us-gaap Profit Loss
ProfitLoss
13563000
CY2012Q3 us-gaap Research And Development Expense
ResearchAndDevelopmentExpense
12121000
CY2012Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Volatility Rate Maximum
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRateMaximum
0.378 pure
CY2012Q3 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
57201000 shares
CY2012Q3 us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0.281 pure
CY2012Q3 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Fair Value Assumptions Expected Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardFairValueAssumptionsExpectedTerm1
P5Y6M
CY2012Q3 us-gaap Other Comprehensive Income Loss Foreign Currency Transaction And Translation Adjustment Net Of Tax
OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax
1836000
CY2012Q3 us-gaap Income Loss From Continuing Operations Before Income Taxes Minority Interest And Income Loss From Equity Method Investments
IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments
18864000
CY2012Q3 us-gaap Tax Adjustments Settlements And Unusual Provisions
TaxAdjustmentsSettlementsAndUnusualProvisions
400000
CY2012Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercises In Period Total Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisesInPeriodTotalIntrinsicValue
1200000
CY2012Q3 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
58145000 shares
CY2012Q3 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.24
CY2012Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Volatility Rate Minimum
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRateMinimum
0.368 pure
CY2012Q3 us-gaap Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate
EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate
0.35 pure
CY2012Q3 us-gaap Gross Profit
GrossProfit
78333000
CY2012Q3 us-gaap Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
15630000
CY2012Q3 us-gaap Operating Expenses
OperatingExpenses
60381000
CY2012Q3 us-gaap Nonoperating Income Expense
NonoperatingIncomeExpense
912000
CY2012Q3 us-gaap Revenues
Revenues
119069000
CY2012Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Risk Free Interest Rate Maximum
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRateMaximum
0.010 pure
CY2012Q3 us-gaap Selling General And Administrative Expense
SellingGeneralAndAdministrativeExpense
48260000
CY2012Q3 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
5301000
CY2012Q3 us-gaap Net Income Loss Attributable To Noncontrolling Interest
NetIncomeLossAttributableToNoncontrollingInterest
-231000
CY2012Q3 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
3200000
CY2012Q3 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
6400000 shares
CY2012Q3 us-gaap Lease And Rental Expense
LeaseAndRentalExpense
1200000
CY2012Q3 us-gaap Unrecognized Tax Benefits Interest On Income Taxes Expense
UnrecognizedTaxBenefitsInterestOnIncomeTaxesExpense
0
CY2012Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Weighted Average Grant Date Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageGrantDateFairValue
8.41
CY2012Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Dividend Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedDividendRate
0 pure
CY2012Q3 masi Defined Contribution Plan Contributions By Employer
DefinedContributionPlanContributionsByEmployer
400000
CY2012Q3 masi Product Revenue
ProductRevenue
112108000
CY2012Q3 masi Royalty
Royalty
6961000
CY2012Q3 masi Percentage Of Product Revenue Based On Geographic Area By Destination
PercentageOfProductRevenueBasedOnGeographicAreaByDestination
1.00 pure
CY2012Q3 masi Percentage Of Revenue One Customer
PercentageOfRevenueOneCustomer
0.15 pure
CY2012Q3 masi Percentage Of Revenue Two Customer
PercentageOfRevenueTwoCustomer
0.11 pure

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