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SMALL BUSINESS
ResMed 1Q profit jumps 50 percent on sales
AP
SAN DIEGO -Respiratory equipment maker ResMed Inc. said its fiscal first-quarter profit rose 50 percent on higher sales worldwide, along with market share gains.
The company said late Thursday it earned $42.1 million, or 55 cents per share, in the three months ended Sept. 30, up from $28 million, or 36 cents per share, a year ago.
Revenue rose 13 percent to $247 million from $217.9 million.
Analysts polled by Thomson Reuters expected profit of 50 cents per share on revenue of $239.5 million.
The company makes respiratory devices aimed at treating sleeping disorders, including sleep apnea. During the quarter, a mix of product sales and market share gains boosted revenue by 19 percent to $134.7 million in the Americas.
Meanwhile, sales outside of the Americas rose 8 percent to $112.3 million, hampered somewhat by the depreciation of the euro versus the U.S. dollar.
Copyright 2009 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.
2009-11-06 08:13:49
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