Good afternoon, ladies and gentlemen, and welcome to the Masimo's First Quarter 2016 Earnings Conference Call. The company's press release is available at www.masimo.com. At this time, all lines have been placed on mute to prevent any background noise. After the speaker's remark there will be question-and-answer session. I'm pleased to introduce Eli Kammerman, Masimo's Vice President of Business Development and Investor Relations.

Thank you. Hello, everyone. Joining me today are Chairman and CEO, Joe Kiani; and Executive Vice President of Finance and CFO, Mark de Raad. This call will contain forward-looking statements which reflect Masimo's current judgment, including certain of our expectations regarding fiscal 2016 financial performance. However, they are subject to risks and uncertainties that could cause actual results to differ materially. Risk factors that could cause our actual results to differ materially from our projections and forecasts are discussed in detail in our SEC filings, including our most recent Form 10-K and Form 10-Q. You will find these in the Investors section of our website. I'll now pass the call to Joe Kiani. Joe E. Kiani - Chairman & Chief Executive Officer: Thank you, Eli. Good afternoon, and thank you for joining us for Masimo's first quarter 2016 earnings call. Our first quarter results were above our expectations. Growth for rainbow in Q1 was especially strong rising by 39% to nearly $17 million, a growth rate influenced by the final portion of the initial large Middle East order. Overall, our total product revenues grew by nearly 11% to $163 million. Here are some highlights from our first quarter. We had continued strong demand for our technology as we shift 46,300 SET and rainbow SET oximeters, excluding our handheld and finger pulse oximeters. Our OUS sales grew by approximately 24% and 28% on a constant currency basis. We also repurchased approximately 1.1 million of our shares. Our Q1 2006 (sic) [2016] (02:25) GAAP earnings per share were $0.53, up from $0.38 in the prior-year quarter, an increase of approximately 39%. On the product side, we were happy to have received FDA clearance for the full featured version of Root with non-invasive blood pressure and temperature monitor. Increasingly the utility and appeal…

Thank you. And our first question comes from Larry Keusch from Raymond James. Your line is now open. Lawrence S. Keusch - Raymond James & Associates, Inc.: Yeah. Good afternoon, everyone. Joe E. Kiani - Chairman & Chief Executive Officer: Hi, Larry. Lawrence S. Keusch - Raymond James & Associates, Inc.: Could you talk a little bit, Joe, about you alluded to the Middle East orders in the quarter, obviously that was anticipated, but can you give us a sense of size and you also alluded to you expected this to continue. Could you help us understand that? Joe E. Kiani - Chairman & Chief Executive Officer: Certainly, certainly. First of all, this Middle East order we discussed that I think last quarter and we said that we expected it to be in the range of $17 million, which about half of it, we got in 2015 and the other half we were expecting between Q1 and Q2 of this year. However, we ended up due to their demand accelerating both and we shipped it all in Q1 of this year. Now, the good news and the reason we expect this business to reoccur is we've also recently won the tender again for that same business. So, that's the size and that's kind of the timeframe of what we expect going forward. Lawrence S. Keusch - Raymond James & Associates, Inc.: Okay. Terrific. And then just one other quick one and I'll jump back in queue. Mark on the DSOs which increased, again, can you walk us through what was behind the changes there? Mark P. de Raad - Chief Financial Officer & Executive Vice President: Sure, as I said, they went up from 46 days from the prior quarter to 52 days and ironically as we were just talking about all of that attributable to slightly longer-terms that we made available related to this large initial Middle East order. So, all of that is related to that one contract and we expect that the repayment plans for that will commence some time in Q2 and will continue through the rest of this year. Lawrence S. Keusch - Raymond James & Associates, Inc.: Okay. Very good. Thank you very much. Joe E. Kiani - Chairman & Chief Executive Officer: Thank you, Larry.

Thank you. Our next question comes from Brian Weinstein from William Blair. Your line is now open. Brian D. Weinstein - William Blair & Co. LLC: Hey, guys. Thanks for taking the question. Joe E. Kiani - Chairman & Chief Executive Officer: Hi, Brian. Brian D. Weinstein - William Blair & Co. LLC: Hey, Joe. So, in the U.S., you guys I think you were kind of mid single-digits. Is that the growth rate that we should expect kind of for the core at this point. What do you see the underlying market growing and then I'm curious to follow-on there, what do you see ORI and O3 and Root potentially adding in terms of growth rates to sort of that core? Joe E. Kiani - Chairman & Chief Executive Officer: Sure. Sure. First of all, we believe our growth rate in the U.S. will be in the upper single-digit, which is we think two times to three times the normal pulse oximetry growth in the U.S. As far as your second question, O3 and ORI, both products have not yet been cleared by the FDA. So they are currently not our projections for U.S. business. We do hope they will get approved this year and once they do, depending on when it does, we may even adjust our revenue plans for the U.S. because they are both very successful products that we rolled out in Europe and Japan and the customer demand has been very high. So we hope the same thing will happen in the U.S. Brian D. Weinstein - William Blair & Co. LLC: Great. And then, follow-up question. On the blood management sales team, can you quantify, kind of what they've been up to? What type of funnel you're looking at there and kind of a…

Thank you. And our next question comes from Bill Quirk from Piper Jaffray. Your line is now open. William R. Quirk - Piper Jaffray & Co (Broker): Hi. Thanks. Good afternoon and nice quarter, guys. Joe E. Kiani - Chairman & Chief Executive Officer: Thank you, Bill. William R. Quirk - Piper Jaffray & Co (Broker): First question, I guess, is for Mark. On capital allocation, do you guys have continued plans to buyback your stocks? I mean, it looks like you have some additional room from a levered standpoint? Mark P. de Raad - Chief Financial Officer & Executive Vice President: Bill, we're constantly looking at opportunities to repurchase the stock, there are various ways as you know to do that. We do have various structures in place that will ensure the continued repurchase of stock at certain levels and then we give ourselves the opportunity to also strategically enter the market any time we think the opportunity is appropriate. So, yes, absolutely the intention of our standard credit facility that we put in place earlier this year is intended to facilitate that kind of activity should the opportunity present itself. William R. Quirk - Piper Jaffray & Co (Broker): Got it. And then, sorry, a quick housekeeping question and one more for me and that's just the split of the delta in your OpEx between R&D and SG&A. Mark, can you just give us a little color there of the $5 million delta? Thanks. Mark P. de Raad - Chief Financial Officer & Executive Vice President: Sorry, Bill. The $5 million delta? William R. Quirk - Piper Jaffray & Co (Broker): Yeah. The lower operating expenses of $312 million down from $317 million for the year. Can you just give us a little color, the balance there between…

Ladies and gentlemen, thank you for participating in today's conference. This does conclude the program, and you may all disconnect. Everyone, have a wonderful day.