ResMed Inc Net Income rises 42% in Fist half of this FY

ResMed Inc Net Income rises 42% in Fist half of this FY

ResMed Inc, manufacturer of the respiratory equipments, recorded an increase of 42 per cent in net income to $US88.1 for the first half of this financial year.

The operational income of the company rose 38 per cent to $US110.6 million over the same period a year ago. Its total revenue for the six months ended December 31 increased 18 per cent $US522.1 million.

The US based company recorded 60th consecutive quarter of revenue growth and achieved billion-dollar mark in trailing 12-month revenue, indicated the company president Kieran Gallahue.

He said that the favorable move in the currency valuations also helped the company record higher revenues in the December quarter. Increased market share and sales took the revenue to $US148.0 million in the Americas during the quarter.

The company sales in other parts of the world rose 27 per cent to $US127.1 million over the same period a year ago.

The President looked confident of the future and said, "Our robust revenue growth, recent product launches and exciting product pipeline continue to position us well for the future."

He further informed that ResMed will launch more new products to treat sleep-disordered breathing and that the company has received good feedbacks for two recently-released new masks.

The company has plans to launch ResMed S9 series air flow generators in Europe and America. It expects the market to grow this year as the physician awareness, clinical awareness continues to grow.

The shares of the company were trading 35 cents, or 5.84 per cent higher at $6.34 on Friday on the Australian stock exchange. Analysts expected the company to earn 55 cents per share.

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