ResMed: Revenues up, net income down in Q3

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Friday, May 3, 2019

SAN DIEGO – ResMed reported revenues of $662.2 million for the third quarter of fiscal year 2019, a 12% increase over the same period last year. Net income was $105.4 million vs. $110.1 million, a 4% decrease, predominantly attributable to the impact of recent acquisitions, higher interest and income tax expense. The company reported a 10% increase in revenues in the U.S., Canada and Latin America, excluding software as a service, driven by strong sales across its mask and device product portfolios. It reported software as a service increased 101%, driven by continued growth from Brightree and incremental contribution from MatrixCare and HEALTHCAREfirst. “We had another strong quarter with top-line revenue growth across all categories of our business, including a solid contribution from recently acquired SaaS companies and growth in international device sales,” said Mick Farrell, ResMed’s CEO.