ResMed Racks Up Record Results

SAN DIEGO — ResMed announced record revenue and income for
its third quarter and nine months, ended March 31. Revenue for the
quarter was $313.3 million, a 12 percent increase over the 2010
quarter. For the nine months, revenue was $901.3 million, an
increase of 13 percent over the same period last year.

“In the third quarter of fiscal 2011 we continued to show strong
year-over-year growth especially in Europe and the Asia-Pacific
region. Revenue outside the Americas increased by 16 percent to
$152.7 million over the prior year’s quarter, or a 15 percent
increase on a constant currency basis,” said Peter C. Farrell,
chairman and CEO, in a release. “Revenue in the Americas increased
by over 9 percent to $160.5 million over the prior year’s
quarter.

“Americas’ revenues,” Farrell said, “continued to be adversely
impacted by reduced bilevel sales, but we expect that the recent
launch of the S9 bilevel series will help to reverse this trend.
Worldwide, our growth in flow generators was mainly driven by sales
of the S9 AutoSet. Patient interface sales did extremely well in
all regions. With the recent launches of the Quattro FX full face
mask and the Mirage FX nasal mask, we have completed the release of
the trilogy of masks in the FX series. Operating profit for the
March quarter was $64 million and cash flow from operations was a
record $81.4 million, demonstrating excellent operating
performance.

Farrell said the company expects growth in all products to
continue to benefit “from the vastly under-penetrated and growing
sleep-disordered breathing market.”