Sleeping giants pile up 20% growth
MURRYSVILLE, Pa. -- Respironics is poised to become the second publicy traded company in home care to break the billion dollar sales milestone. With the April 21 announcement of its third quarter sales ($236.5 million), the company should eclipse the billion-dollar annual run rate sometime next month, thanks in part to a healthy 20% growth clip.
With the milestone comes a new facility. In March, the company paid $5.5 million for a 138,000-square-foot facility for home care. A new family of CPAP is also in the offing for 2006, the first big news from Respironics on the CPAP front since C-Flex two years ago.
Domestically, Respironics' sleep apnea business is growing 23% annually, and, internationally, it is growing even faster -- at 26%. The company's C-flex and Bi-flex devices are leading the charge.
Respironics earned $24.4 million on the quarter, up 23% over the previous year.
SAN DIEGO -- ResMed earned $18.9 million on $108.5 million in sales for the quarter ended March. 31 Its income is up 26% over last year, and its sales growth is 19%.
ResMed boosted is R&D investment by 7% from $6.9 million for the quarter last year to $7.2 million this year. By year's end, ResMed expects that it will have dedicated 7% of its sales revenues on R&D.
In the United States, ResMed sales grew by 29%, thanks to favorable market conditions and the Mirage Swift mask.