ResMed’s revenue hits $2.6B for FY 2019

Friday, July 26, 2019

SAN DIEGO – ResMed reported revenue of $705 million for the fourth quarter of fiscal year 2019, a 13% increased compared to the same period last year.

It reported a net income of $68.8 million vs. $109.8 million, a 37% decrease, predominantly attributable to the impact of legal settlement expenses of $41.2 million, recent acquisitions, restructuring expenses and higher interest charges.

Revenue in the U.S., Canada and Latin America, excluding Software as a Service, grew 11% in the fourth quarter of 2019 vs. 2018, driven by strong sales across the company’s mask and device portfolios. Revenue for SaS increased 111% due to continued growth in Brightree’s service offerings and incremental contributions from the more recent acquisitions of MatrixCare and HEALTHCAREfirst.

ResMed reported revenue of $2.6 billion for all of fiscal year 2019 compared to $2.34 billion for 2018, an 11% increase. It reported net income of $404.6 million vs. $315.6 million, a 28% increase.