San Diego-based ResMed listed fourth quarter revenue as $623.6 million, a 12 percent year-over-year increase.
The company reported diluted quarterly earnings of $0.95 per share, under non-GAAP (Generally Accepted Accounting Principles) standards, surpassing the Zacks Consensus Estimate of $0.90 a share.
“We closed out the year with strong performance across all aspects of our business, from solid top-line revenue growth – driven by geographically balanced results across our entire portfolio of offerings – to continued improvements in operating leverage, which has resulted in double-digit bottom-line growth,” said CEO Mick Farrell, in a news release.
Income from operations in the fourth quarter, according to the company, totaled $146.9 million, 15 percent higher than the prior year period.
Gross margin in the fourth quarter was 58.1 percent, lower than the prior year’s quarter gross margin of 58.2 percent. The company attributed this primarily to average selling prices declining, tempered by manufacturing and procurement efficiencies.