ResMed lifts quarterly income

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Sleep disorder equipment supplier ResMed’s quarterly income is up 14 per cent with encouraging sales of new products.

ResMed, which makes products for the diagnosis and treatment of respiratory disorders, focusing on sleep-disordered breathing, on Friday said its net income for the September quarter was $80.9 million, 14 per cent higher than the same period last year.

Revenue in the Americas was up four per cent, it said, while outside the Americas, it had risen five per cent on a constant currency basis.

“Global revenue growth was driven primarily by sales of higher-valued flow generators, like our S9 AutoSet and S9 bilevels, while mask spares and accessories did particularly well this quarter,” ResMed chief executive Mick Farrell said.

But, he said, ResMed still faced tough competition.

He said that the company had just released its new mask products and was “encouraged by the early sales”.

“The Quattro Air is on its way to being one of the best mask launches ever.

“The Swift FX Nano, which was already selling well in Europe, was just launched in the US in September with good reception,” he added.

Shares in ResMed dropped 49 cents, or 8.3 per cent, to $5.41.