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ResMed Shares Climb With Record Revenues

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.

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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

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