ResMed posts 24% income jump in another big quarter
ResMed ($RMD) keeps stringing together quarters of growth--72 straight, according to the company--and the last was no exception. The respiratory devicemaker took in $376.5 million in revenue for the quarter that ended Dec. 31, a 13% increase over the same period in 2011, and pulled down $77.9 million in net income, good for a 24% leap.
The San Diego company focuses on devices that diagnose, treat and help manage sleep-disordered breathing, and CEO Peter Farrell attributes ResMed's consistent growth to pairing efficacious treatments with demonstrations of economic value that appeal to patients and payers alike.
"In short, we don't just provide high-quality flow generators and a highly regarded range of comfortable, effective and preferred masks and accessories; we offer robust data solutions that drive compliance and adherence," Farrell said in a statement. "This combination is a significant value proposition for home medical equipment providers, because these solutions drive efficiencies and create additional business opportunities."
ResMed has been focused on its sleep apnea segment of late, buying up data services provider Umbian in August to acquire the company's CPAP device monitoring software. ResMed is in the midst of a 1,200-patient study to test whether its sleep apnea devices can improve survival rates in patients with stable heart failure, possibly opening up a lucrative new market.