ResMed Inc, San Diego, announced record revenue and income results for the quarter ended Sept 30, 2006. Revenue for the quarter was $163.6 million, a 29% increase over the quarter ended September 30, 2005.
For the current quarter, pro forma income from operations and pro forma net income were $40.6 million and $28.8 million, an increase of 34% and 39% respectively (pro forma measures exclude the impact of stock-based compensation costs, restructuring expenses, and amortization of acquired intangible assets).
“In the first quarter of fiscal 2007, domestic sales increased by a very robust 34% over the year ago quarter to $89.6 million, reflecting continuing strong demand for our S8 platform and interfaces. International sales totaled $74 million, an encouraging 23% increase over last year. Operating cash flow for the September quarter was $26 million,” said Peter C. Farrell, PhD, chairman and CEO, in a company news release. “This quarter we saw continued strength in the sales of our core products, including the Swift nasal pillows system and our full face masks. We are also encouraged by the initial response to our newly launched VPAP Adapt SV, which is used to treat complex or mixed sleep apnea.
"In addition, we began a controlled market release of a new flow generator targeted to the value segment of the market. And, on Sept 12, the National Sleep Foundation, American College of Chest Physicians, and American College of Occupational and Environmental Medicine released a joint statement providing updated recommendations for the screening and evaluation of OSA in commercial motor vehicle operators," added Farrell. "This is encouraging news as we accelerate the implementation of our occupational health initiatives. Finally, our focus on diagnosing and treating sleep-disordered breathing and obstructive sleep apnea in patients with cardiovascular disease and diabetes continues to gain traction.”