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Wednesday, Mar 27, 2024
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Q1: ResMed’s Net Income Rises 23%

San Diego medical device company ResMed posted revenue of $588.3 million in quarter one results, a 12 percent year-over-year increase.

“We also delivered another quarter of improving operating leverage resulting in double-digit growth at the bottom line,” CEO Mick Farrell said in a news release.

The company reported net income of $105.7 million, up 23 percent from the same period in 2017. Income from operations was listed as $144.1 million, versus $112.5 million in quarter one last year.

ResMed listed adjusted earnings of $0.81 per share, beating a survey of analysts by Zacks.com. These analysts expected $0.80 per share.

ResMed is San Diego’s largest medical device maker, specializing in sleep and breathing disorders.

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