A NEW bedside air humidifier has given sleep disorder specialist Resmed a strong start to the financial year.
THE US and Australian-listed company’s net profit grew three per cent in the three months to September to $US83.3 million, while revenue rose six per cent.
“We had a successful start to fiscal year 2015 as new product launches drove revenue growth,” chief executive Mick Farrell said. A key new product was the AirSense 10, designed to help sleep apnoea sufferers at home and in hospital. The company’s improved performance sent its shares soaring, adding 35 cents, or 6.5 per cent, to $5.72. ResMed’s revenue growth was strongest outside of the Americas, up 11 per cent on the same period in the prior year. Revenue from the Americas rose three per cent. “Our result showed very strong performance from our European and Asia-Pacific regions as well as solid growth in the Americas,” Mr Farrell said. Resmed also repurchased 835,000 of its shares during the September quarter for $US42.9 million, as part of its capital management program.