ResMed reports 12 percent rise in revenue

ResMed has announced a 12 percent increase in net revenue for the third quarter of 2011.

The respiratory product firm's revenues totalled a record $314.8 million (1.96 million pounds) during the period, although its net income declined by 11 percent on the previous year as a result of currency exchange rate movements.

"Operating profit for the September quarter was $60.9 million and cash flow from operations was a record $89.5 million, demonstrating excellent operating performance," said Peter Farrell, chairman and chief executive of ResMed.

The company noted that its research and development expenses, which stood at $26.2 million for the quarter, were negatively affected by the appreciation of the Australian dollar against its US counterpart.

However, Mr Farrell pointed to the launch of three new product initiatives during the three-month period, including the release of specialist CPAP therapy products for women.

He added that awareness of "sleep-disordered breathing and its impact on other disease states" continues to grow among the medical community.

ResMed is due to present at the Credit Suisse 2011 Healthcare Conference and the Piper Jaffray Healthcare Conference, which take place in Phoenix and New York respectively next month.