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ResMed Reports Fourth Quarter Results

ResMed Inc.’s fourth quarter net income dipped slightly at $87.7 million, down from $90 million last quarter, but an overall increase of 20 percent over the same quarter last year.

ResMed (NYSE: RMD) which develops medical devices for sleep-related breathing disorders like sleep apnea, posted fourth quarter revenue of $415.2 million, flat compared to the quarter ended June 30, 2013.

“Our fourth quarter results were lower than anticipated, the result of softer sales in the Americas, partially offset by good growth in our international markets,” RedMed Chief Executive Officer Mick Farrell said. “We continued to benefit from our globally diversified business, which constant currency revenue growth of 5 percent in our combined Europe and Asia-Pacific businesses.”

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