ResMed report strong year on year revenue growth

Company News

by Rachael Jones

Respiratory care company ResMed (ASX:RMD) have announced their first quarter results for financial year 2019 where they have seen strong year on year revenue growth.

Revenue increased by 12 per cent to $588.3 million and net income increased by 23 per cent to $105.7 million compared to last quarter.

Revenue in US, Canada, and Latin America, excluding Software as a Service, grew by 10 per cent compared to the prior year period, driven by strong sales across their sleep apnoea mask and device product portfolios.

This last quarter also saw ResMed buy healthcare software company HEALTHCAREfirst and a joint venture with Verily, a life science research company.

Re Med (ASX:RMD) are trading at are trading 6.69 per cent higher to $14.67.