ResMed‘s revenue for the quarter ended December 31, 2013 was $384.3 million, a 2% increase (a 1% increase on a constant currency basis) over the quarter ended December 31, 2012. For the quarter ended December 31, 2013, net income was $86.6 million, an increase of 11% compared to the quarter ended December 31, 2012. Mick Farrell, ResMed’s chief executive officer, says in a release, “While we are disappointed with the US numbers, the two key issues, as we have previously noted, are market restructuring due to competitive bidding and increased competitor activity. Having said that, competitive bidding’s impact on volume in the US market is beginning to moderate, and we are partnering with our US customers to position for the growth that we see ahead. It’s important to note that we have a rich pipeline of products scheduled for introduction, and we remain optimistic about future growth in the US market.”
Highlighting an example of the company’s new product pipeline, Farrell said, “Earlier this month in the US, we released our new AirFit P10 nasal pillows system, which is an ultra-light, ultra-quiet mask that has only three parts, including a new soft and stable QuickFit headgear and a new vent technology called QuietAir. The AirFit P10 is 50 percent quieter and 50 percent lighter than its predecessor, diffusing air with minimal disturbance to patients or their bed partners. In short, this is an exceptional mask, patient reviews have been strongly positive, and there are two more new masks behind it, scheduled to launch this fiscal year.”
