ResMed: Mask sales propel revenues

Friday, October 25, 2019

SAN DIEGO – ResMed reported revenues of $681.1 million for the first quarter of fiscal year 2020, an increase of 16% compared to the same period last year. Net income was $120.1 million, a 14% increase. Revenues in the U.S., Canada and Latin America grew 13%, driven by strong mask and device sales; and 8% in Europe, Asia and other markets, combined. “Our global ResMed team delivered another quarter of strong performance in the first quarter of fiscal year 2020 with double-digit topline revenue growth, balanced growth across our businesses and regions, and further improvements in operating leverage resulting in double-digit growth at the bottom line,” said Mick Farrell, CEO. “We were particularly pleased that strong customer demand for our new products drove high-teens growth in the mask category during the quarter.”