Brightree buoys ResMed’s earnings

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Friday, April 28, 2017

SAN DIEGO – ResMed reported revenues of $514.2 million for the third quarter of fiscal year 2017, a 13% increase compared to the same period last year. Excluding contributions from Brightree, which ResMed acquired in April 2016, it reported revenues of $479.2 million, a 6% increase. “We had solid double-digit constant currency revenue growth in Q3, led by our Brightree software solutions, as well as mask and device sales," said Mick Farrell, ResMed's CEO. "This quarter we saw strong demand for our new AirFit 20 range of masks. We also made significant progress on software innovation with the launch of enhanced integration capabilities with Brightree and our AirSolutions cloud-based software platform.” For the Americas, ResMed reported revenues of $332.1 million, an 18% increase over the same period last year. Excluding Brightree, it reported revenues of $297.1 million, a 5% increase. ResMed reported net income of $87.8 million, for the third quarter, a 3% increase compared to the same period last year.