Tag: Financial Results

AUCKLAND, New Zealand – Fisher & Paykel Healthcare reported a 23% decline in operating revenue to $690.6 million for the first half of the 2023 financial year. The company pointed out, however, that this was more than the $670 million guided in an August trading update and a 21% increase on the comparable pre-pandemic period.   “Consistent with what we signaled in August, first half revenue was down on the prior corresponding period, as we lapped significant COVID-19-driven...

SAN DIEGO – ResMed reported that revenue increased 5% to $950.3 million and net income increased 3% to $210.5 million in the first quarter of fiscal year 2023 compared to the same period last year.  Revenue in the U.S., Canada, and Latin America, excluding software-as-a-service, grew 18%, primarily due to increased demand and reduced competitive supply, as well as a recovery of core sleep patient flow that was previously impacted by COVID-19.  “Our first quarter fiscal...

AUCKLAND, N.Z. – Fisher & Paykel Healthcare expects operating revenue for the first half of the 2023 financial year to be about $670 million and net profit after tax to be about $85 million to $95 million, assuming current exchange rates and a continuation of trading conditions in the first four months.  This would represent an increase in revenue on pre-pandemic levels ($570.9 million in the first half of fiscal year 2020) and a decline in revenue compared to the prior comparable period...

ELYRIA, Ohio – Invacare expects recent strategic funding will increase the company’s liquidity and flexibility, helping it to reduce an elevated backlog.  The company announced in late July that it had secured a term loan agreement of up to $104.5 million, with certain funds managed by Highbridge Capital Management LLC.   “We expect this strategic funding will enable us to more effectively work with our suppliers and find alternative solutions to short-term...

SAN DIEGO – ResMed reported revenue of $914.7 million for the fourth quarter of 2022, a 4% increase compared to the same period in 2021. It reported revenue of $3.6 billion for fiscal year 2022, a 12% increase compared to 2021. “Our fourth quarter and full-year fiscal year 2022 results demonstrate strong growth and ResMed’s market leadership,” said Mick Farrell, ResMed’s CEO. “During the quarter, we saw continued adoption of our most advanced platform innovation...

GOLETA, Calif. – Inogen reported total revenues of $103.4 million for the second quarter of 2022, a 1.8% increase compared to the same period in 2021 and a 28.6% increase compared to the prior quarter.  “We delivered solid performance in the quarter driven by our ability to fulfill customer demand, while effectively managing supply chain challenges and macro headwinds,” said Nabil Shabshab, Inogen’s president and CEO.  Other financial results:  Adjusted...

AMSTERDAM – Comparable sales for the Connected Care business at Philips decreased 13% in the second quarter of 2022, mainly due to the consequences of a major recall and supply chain headwinds.  The company says it is making progress on the recall, producing more than 3 million replacement devices and repair kits to date.  “Philips Respironics aims to further increase capacity and complete around 90% of the production and shipments to customers in 2022,” the company...

LAFAYETTE, La. – Viemed’s latest growth figures signal that business is returning to something close to normal, company execs said during a recent call to discuss first quarter financial results for 2022.  The company reported core net revenues increased 18% compared to the same period last year.  “To sum up the overall theme of the first quarter, I would say execution, fueled by demand, driven by return-to-normal course of business,” said CEO Casey Hoyt.  Viemed...

CINCINNATI – Quipt Home Medical reported revenue of $33.6 million for the second quarter of fiscal year 2022, a 38% increase over the same period last year.  It reported net income of $5 million vs. a net loss of $12.5 million.  “We are extremely proud of the robust results we experienced in our fiscal second quarter, which showed accelerating momentum across our heavily weighted respiratory product mix as the quarter progressed,” said CEO and Chairman Greg Crawford....

PLYMOUTH MEETING, Pa. – AdaptHealth delivered “solid” net revenue of $706.2 million for the first quarter of 2022, an increase of 46.5% over the same period the previous year.  Organic growth for the quarter was 3.7% and non-acquired growth was 3.7%  “We are very pleased with our strong start to the year,” said Steve Griggs, CEO. “During the quarter, we have seen continued strength in our diabetes product line, consistent with our expectations,...