Respironics fourth-quarter sales set record
August 11 , 2003
MURRYSVILLE, Pa. - Respironics’ net sales for the fourth quarter that ended June 30 totaled a record $177.4 million, up 24% over the $143.4 million in the fourth quarter a year ago.
Domestic revenues increased 9% from $113.2 million in the fourth quarter a year ago to $123.5 million in the current year's quarter. The company's domestic revenue gains were led by a year-over-year increase of 22% in domestic sleep therapy products.
International revenues totaled $54 million for the fourth quarter, a 79% increase over the $30.2 million reported a year ago. The strong growth in international sales was driven by significant revenue gains in the company's sleep therapy and ventilation products for the homecare market as well as increases in the company's hospital ventilation product lines.
Net income for the fourth quarter was $17.3 million a 34% increase over the $12.9 million reported a year ago. The improved earnings for the fourth quarter were primarily the result of sales and operating margin increases compared to the prior year.
For the year ending June 30, 2003, net sales increased to $629.8 million, a 27% increase compared to $494.9 million from last year.
Net income on a year-to-date basis was $57.9 million, or a 37% increase over the $42.3 million reported a year ago.