ResMed Inc posted record revenue and income results for the quarter ended September 30, 2009, driven by product sales, market share gains, and increasing awareness of sleep-disordered breathing.
ResMed has released a flurry of products to American and European markets in recent months including the ApneaLink Plus, a home testing device, and the Swift FX and Mirage SoftGel masks. According to Kieran T. Gallahue, president and CEO of the company, “These two new masks are receiving a great reception.”
Gallahue also expanded on ResMEd’s sleep apnea awareness efforts. “We are also taking active steps, both in concert with another industry participant, and on our own, to drive further awareness in the primary care community of the health dangers of sleep-disordered breathing through educational programs. These efforts should further enlighten both doctors and patients especially with respect to the relationship between sleep-disordered breathing/obstructive sleep apnea and co-morbidities such as cardiac disease, diabetes, hypertension, and obesity as well as the dangers of sleep apnea in regard to occupational health and safety, especially in the transport industry."
The combination of awareness efforts and product releases has proven to be a winning strategy. Revenue for the September 2009 quarter was $247.0 million, a 13% increase (a 16% increase on a constant currency basis) over the quarter ended September 30, 2008. For the quarter ended September 30, 2009, income from operations was $52.7 million and net income was $42.1 million, an increase of 44% and 50%, respectively, compared to the quarter ended September 30, 2008.