Sleep disorder equipment maker ResMed Inc
(ASX:RMD) has today announced record revenue and earnings for the March quarter.
For the three months to March 31, 2010, revenue rose 22% to US$278.7 million compared to the March 2009 quarter.
Income from operations rose 16% to US$61.2 million and net income jumped 25% to US$48.8 million for the quarter.
The company says selling, general and admin expenses rose 19% to US$84.1 million in the quarter due to the depreciation of the US dollar against international currencies.
Research and development costs rose 32% to US$18.3 million, again negatively impacted by the depreciation of the US dollar, particularly against the Aussie dollar.
CEO Kieran T. Gallahue says ResMed continued to show strong growth year-over-year in the America’s, as well as in Europe and Asia/Pacific, with the company’s favourable mix of product sales and market share gains leading to a 20% increase in the Americas over the prior year’s quarter, resulting in US$146.8 million in revenue.
ResMed says sales outside the America’s increased by 25% to US$131.9 million over the same quarter last year.
For the 12 months to June 30, 2009, ResMed reported profit of $180.49 million.
