ResMed reports drop in earnings
SAN DIEGO - Revenues were up and profits were down at ResMed for the quarter ended Sept 30, 2011.
Revenue increased 12% over the same quarter a year ago to a record $314.8 million, the company announced recently. Net income was down 11% to $50.5 million or 33 cents per share, which the company blamed on currency exchange rates.
Revenue in the Americas increased by 9% to $163.9 million over the previous year's quarter, while revenue outside the Americas increased by 15% to $145.5 million over the previous year's quarter.
Growth in flow generators was driven mainly by sales of the S9 AutoSet ad the VPAP Adapt SV, stated CEO and Chairman Peter Farrell in a release.
Farrell also pointed to recently released products as demonstration of the company's commitment to patients. In October, ResMed released its "Choices for Her" line of CPAP masks for women, and the SP AutoSet for Her therapy device. In September, ResMed launched the Pixi nasal mask for children.
"This is not just a scaled-down adult mask," stated Farrell. "Every feature on the Pixi was carefully designed to address and improve comfort, acceptance and the overall therapy experience for both the child and caregiver."