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ResMed 4Q profit grows 17 percent as sales rise

Thu, 08/05/2010 - 2:45pm
The Associated Press

Respiratory equipment maker ResMed Inc. said Thursday its profit rose 17 percent in the fiscal fourth quarter as its sales climbed.

The company also said it approved a two-for-one stock split scheduled to take place around Aug. 30.

ResMed said it earned $53.2 million, or 68 cents per share, in the three months ended June 30. That's up from $45.4 million, or 59 cents per share, one year earlier. Revenue climbed 16 percent, to $291.6 million from $252 million.

Analysts were forecasting a profit of 66 cents per share and $293.8 million in revenue, according to a Thomson Reuters poll.

ResMed said revenue in the Americas rose 20 percent to $160.9 million, and revenue from other regions increased 11 percent to $130.7 million. It credited the results to sales of new products, and improved mask sales.

The company said shareholders at the close of trading on Aug. 17 will receive one additional share for each share they own. ResMed had about 76 million shares as of July 30, and the stock closed at $68.03 Thursday.

ResMed said its annual profit rose 30 percent, to $190.1 million, or $2.45 per share, from $146.4 million, or $1.90 per share. Its revenue grew 19 percent, to $1.09 billion from $920.7 million.

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