Moving the HME Industry Forward

General Healthcare

Revenue and Income Up at ResMed

April 28, 2014

SAN DIEGO – Revenue for the quarter ended March 31, 2014, was $397.8 million, a 4% increase over the quarter ended March 31, 2013. Net income for the San Diego-based ResMed was $90 million, an increase of 6% compared to the quarter ended March 31, 2013. Diluted earnings per share for the quarter were $0.63, an increase of 9% compared to the quarter ended March 31, 2013.  

“We are pleased with our third quarter results in the face of challenging market conditions, particularly in the U.S.,” said ResMed CEO Michael “Mick” Farrell. “Our Americas business showed encouraging trends and we continue to benefit from our globally diversified business, with constant currency revenue growth of 6% in combined Europe and Asia-Pacific businesses for the quarter. In particular, our European results were strong across the board, with most countries showing solid growth. At the beginning of the third quarter, we launched our new nasal pillows interface, the AirFit™ P10, in the U.S., and it’s been very well received.”

First Quarter Net Sales Down at Invacare
ELYRIA, OHIO – First quarter 2014 results for Invacare Corp are still being affected by the Ohio-based company’s FDA consent decree, leading to a 7.2% net sales decrease, compared to the same period last year. Commenting on the Company’s first quarter 2014 financial results, Gerald B. Blouch (pictured), president and CEO, stated: “While the European business segment continued its strong performance, it was more than offset by the continued impact of the Company’s consent decree with the United States Food and Drug Administration (FDA), which limits the Company’s ability to manufacture products at its Taylor Street facility in Elyria, Ohio.” Click Here for the full Invacare earnings report.

Invacare and ResMed have signed on to exhibit at Medtrade, scheduled for Oct 20-23, 2014, in Atlanta at the Georgia World Congress Center. Attendees may visit with either of these companies, and customers may request a free Expo/Floor pass.