ResMed (ASX:RMD) revenue up 14% in Q4

Company News

by Lauren Evans

Global medical equipment company ResMed (ASX:RMD), records revenue of $876.1 million for its quarter ending 30 Jun 2021 (Q4, FY21), a 14 per cent increase from the prior year period.

The digital health business also recorded a gross margin of 56 per cent in Q4 FY21 from the prior year period, while income from operations increased by 8 per cent.

During the Jun quarter, diluted earnings were $1.33 per share and quarterly dividend increased by 8 per cent from the prior year period to $0.42.

The company obtained incremental respiratory care revenue from Covid-19 demand of approximately $20 million in Q4 FY21. In the prior year quarter, incremental revenue reached approximately $125 million. Excluding this decline, revenue increased by 29 per cent.

ResMed CEO Mick Farrell said, “during the quarter, we saw the ongoing recovery of core sleep apnea and COPD patient flow across our business, as healthcare systems continue to adopt new models of patient care." 

Shares in ResMed (ASX:RMD) are trading 2.2 per cent lower at $36.35. 

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