Financials
By HME News Staff
Updated Mon May 31, 2004
ResMed: More for R&D
SAN DIEGO - ResMed spent 35% more on R&D in the quarter ending March 31 than it did in the corresponding quarter last year. At $6.9 million, or 8% of revenues, the company said it was ramping up clinical research and product development, particularly in the evolving cardiovascular market. In its quarterly earnings statement, Resmed said it expected to devote 8% of revenues to R&D for the rest of the year.Revenue for the quarter climbed to $91.3 million, up 32% over last year. Net incomes for the quarter jumped to $15 million, up 23% over last year.
Respironics grows organic
MURRYSVILLE, Pa. - Respironics pumped up revenues to $197 million in the quarter ending March 31, up 22% over sales in the corresponding quarter last year. All of that growth was organic growth since the company's acquisitions of Novametrix and Fuji RC were completed in the 2002 fiscal year. Respironics President John Miclot said the company planned to explore other areas in the sleep and respiratory markets and noted the February acquisition of Caradyne Limited, an Irish manufacturer ventilation and humidification technology.
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