SAN DIEGO – Third quarter revenue results for San Diego-based ResMed Inc (pictured here meeting with customers at Medtrade Spring 2015) hit $422.5 million, a 6% increase over the quarter ended March 31, 2014.
Net income was $91 million, an increase of 1% compared to last year. Diluted earnings per share for the quarter were $0.64, an increase of 2%. Non-GAAP diluted earnings per share for the quarter were $0.65, a 2 percent increase compared to the quarter ended March 31, 2014.
“We are pleased to report excellent progress with our new product launches, as we continued to see double-digit revenue growth,” said Mick Farrell, ResMed’s CEO. “Strong demand for our new flow generator launches in the U.S. and continued growth in our Asia Pacific and Europe regions drove our results in the quarter.
“We saw strong customer adoption of our range of new flow generators: the Astral, AirSense™ 10 and the recently launched AirCurve™ 10 series of cloud-connected bilevel devices,” continued Farrell. “This quarter, we continued to build our informatics capabilities with the acquisition of Jaysec, a provider of cloud-based software solutions for the home medical equipment industry, as well as the integration of our AirView patient management system with leading informatics partners. We are executing on our long-term strategy: growing our core sleep disordered breathing market and investing in future opportunities in chronic obstructive pulmonary disease as well as cardiorespiratory conditions.”