Sleep products drive Respironics 2nd quarter growth
January 24, 2005
MURRYSVILLE, Pa. - Respironics tallied record financial results for its second quarter, which ended Dec. 31. During that period, net sales jumped to $225.9 million, up 17% over the same period last year, the company reported last week.
Domestic revenues increased 12% to $159.7 in the second quarter, a 12% increase over the same period last year. The company's domestic revenue gains were led by a year-over-year increase of $14.6 million, or 19% in domestic sleep therapy products.
International revenues totaled $66.2 million for the second quarter, a 34% increase over the $49.4 million reported a year ago. International growth was driven by 25% growth in sleep therapy and strong performance in the company's home ventilation and oxygen product lines.
For the six-month period ending December 31, 2004, net sales increased to $425.4 million, a 19% increase compared to $356.4 million from the last year's comparable six-month period.
Commenting on the company's expansion initiatives, John Miclot, president and chief executive officer, stated: "I am very pleased to report that we have reached agreement with CoTherix, Inc. to supply our proprietary Adaptive Aerosol Delivery (AAD) system for delivery of the pulmonary arterial hypertension drug, Ventavis (iloprost) Inhalation Solution, which recently received FDA approval for marketing in the United States. The accurate dosing capabilities and patient responsiveness of our AAD systems allow these devices to deliver precise and reproducible therapy and position us to uniquely serve the pharmaceutical market. This agreement represents an important milestone for our Respiratory Drug Delivery business and demonstrates the expanded opportunities available to us through partnerships with pharmaceutical companies."