ResMed boosts quarterly earnings
SAN DIEGO, Calif. - ResMed boosted its revenue for the quarter that ended Sept. 30 by 14% to $185.7 million compared to the same period last year, the company reported last week. Peter C. Farrell, Ph.D., chairman and CEO, commented, "In the first quarter of fiscal 2008, overall Americas sales increased by 9%, or 11% if sales from our motor division are excluded. Sales outside of the Americas totaled $88.1 million, an encouraging 19% increase over last year. Operating cash flow for the September quarter was a robust $28.1 million." Inventory, at $167.1 million, increased by $9.9 million compared to June 2007.