Masimo Corp. (NASDAQ: MASI) reported Q2 EPS of $0.73, $0.02 better than the analyst estimate of $0.71. Revenue for the quarter came in at $211.6 million versus the consensus estimate of $207.85 million.

As a result of the strong performance in the second quarter, Masimo is raising its guidance for fiscal year 2018. The Company now expects product revenues of $822 million, which reflects reported growth of 11.3% and constant currency growth of 10.8%. Masimo is also raising its GAAP EPS guidance to $3.07 and its non-GAAP EPS guidance to $2.90.

Furthermore, today, Masimo is also announcing the Board’s authorization of a new stock repurchase program (2018 Repurchase Program), whereby the Company may purchase up to 5.0 million shares of its common stock over a period of up to three years. The 2018 Repurchase Program will be effective upon the expiration of the current stock repurchase program on September 11, 2018. The 2018 Repurchase Program may be carried out at the discretion of a committee comprised of the Company’s Chief Executive Officer and Chief Financial Officer through open market purchases, one or more Rule 10b5-1 trading plans, block trades and in privately negotiated transactions

For earnings history and earnings-related data on Masimo Corp. (MASI) click here.