ResMed Revenue Rises

SAN DIEGO — Amid a declining economy and an industry in
turmoil, ResMed managed to record a 14 percent increase in revenue for the
quarter ended Sept. 30, officials announced Oct. 28. The sleep
apnea equipment manufacturer reported revenue of $282 million for
the quarter compared to just under $247 million for the same
quarter in 2009. Income from operations was $66.4 million and net
income was $56.7 million, an increase of 26 and 35 percent,
respectively, compared to the quarter last year. The company also
invested more in research and development. Expenses for R&D
went up 10 percent, to $19.7 million in the quarter of 2010
compared to $17.9 million in 2009.

Kieran T. Gallahue, president and CEO, attributed ResMed’s
growth to a “favorable mix of product sales and market share gains”
and noted that sales in the Americas grew by 16 percent, while
sales elsewhere rose 13 percent. “Operating profit for the
September quarter was $66.4 million and cash flow from operations
was $59.1 million, demonstrating excellent operating performance,”
Gallahue said.