San Diego Business Journal

ResMed Posts Higher Earnings in 2Q

Tuesday, January 31, 2012

ResMed Inc. said its revenue grew 9 percent to $333 million in the second fiscal quarter, even as research and development costs climbed 24 percent.

In its latest earnings release, issued Jan. 26, the San Diego-based maker of respiratory masks also said that its quarterly net income rose 8 percent to $62.9 million, or 42 cents per share.

“Global mask growth remains exceptionally strong as the market continues to reward us for having what we consider are the best patient interfaces in the industry,” ResMed Chairman and CEO Peter C. Farrell said in a company statement.

Regionally, sales were strongest in the Americas, growing 12 percent in the second fiscal quarter, Farrell said. Revenue outside of the Americas rose 5 percent.

ResMed is continuing to focus its efforts on key business initiatives such as communicating the positive impact that treating sleep-disordered breathing has on heart disease, type 2 diabetes and other conditions.

The company also is working with the anesthesiology community to help reduce surgery-related deaths due to undiagnosed sleep-disordered breathing in patients undergoing procedures.

“We continue to provide research funding in these strategic areas while at the same time providing educational support to physicians working within these various specialties,” Farrell said.

Shares of ResMed, which trade on the New York Stock Exchange under the symbol RMD, closed at $29.29 on Jan. 30.

— Kelly Quigley