Shares of ResMed Inc. climbed 10 percent Aug. 23 after the company released financial results showing record revenue and beating analyst expectations.
Shares closed Aug. 23 at $75.36; they closed at $68.38 the previous day, and before ResMed issued its earnings statement.
Poway-based ResMed, a maker of medical devices aimed at treating sleep disorders, reported net income of $64.8 million on revenue of $425.5 million for its 2005 fiscal year. The company reported net income of $57.3 million on revenue of $339 million during fiscal 2004.
Quarter over quarter, net income declined slightly. The company reported net income of $15.6 million on revenue of $125.4 million in the fourth quarter. In the year-ago quarter, the company reported net income of $15.9 million on revenue of $92.9 million.
Analysts had expected earnings of 55 cents per share, excluding charges. ResMed came in at 60 cents per share, excluding charges. ResMed reported that restructuring expenses and acquisition-related costs ate into its earnings.
The stock trades on the New York Stock Exchange as RMD.
Brad Graves