- Masimo Corp (NASDAQ:MASI) expects Q1 FY22 product revenue of $285 million - $315 million, lower than expected.
- Shortages of critical components and other supply chain issues, including freight carrier delays, have led to lower-than-expected sales in the first quarter.
- Related:
- Joe Kiani, Chairman, and CEO, said, "In prior quarters, we were able to weather the storm of COVID-related supply chain issues. However, these issues impacted us in the first quarter. We have strong customer demand, and had we been able to ship what was ordered in the first quarter, our revenues would have exceeded expectations."
- Also See: Masimo's SedLine Brain Function Monitor Sensor Scores FDA Approval For Pediatric Use.
- The Company reiterated FY22 revenue guidance of $1.35 billion, based on the belief to fulfill an elevated level of open orders through the remainder of the year.
- Price Action: MASI shares are down 4.56% at $148.31 during the market session on the last check Thursday.
