For the quarter ended March 31, San Diego-based ResMed Inc. announced $383.6 million in revenue – a 10 percent gain in revenue over the like quarter in the prior year.
Net income was $84.9 million, up 31 percent compared with the quarter ending on March 31, 2012.
The company has been on a steady upward trajectory for several years. Its revenue in 2008 was $835 million, and increased to $1.37 billion by 2012.
The company, which manufactures devices and masks for sleep-related breathing disorders, recently announced a new product line that targets individuals suffering from chronic obstructive pulmonary disorder (COPD).
“We are confident we have the right product pipeline for the future. We will be launching an important and exciting new mask this quarter, and expect to launch an additional mask later this calendar year,” ResMed CEO Mick Farrell said in a statement.
— SDBJ Staff Report