ResMed quarterly profit grows 3%

Sleep-disordered breathing device vendor ResMed (ASX:RMD) has reported a solid September quarter, with gains in both profit and revenue.

Net profit for the quarter grew 3% to US$83.3 million ($95.4 million). Revenue increased 6% to US$380.4 million.

Revenue outside of the Americas increased 11% to US$173.2 million, which compares to a 3% growth in revenue from the region.

Gross margins declined by 130 basis points to 62.5% due to declines in average selling prices, but manufacturing and supply chain improvements partly offset this. R&D expenses increased by 10% to US$30 million, or 7.9% of revenue.

“We had a successful start to fiscal year 2015, as new product launches drove revenue growth,” ResMed CEO Mick Farrell said.

“During the quarter, we launched innovative products for the sleep-disordered breathing market, including our new AirSense 10 platform, as well as a new life support ventilator for the US respiratory care market, our new Astral platform.”

ResMed has separately announced the launch of three new or improved patient management-related offerings.

The new products include the ResMed Data Exchange, a suite of software and services to allow home medical equipment (HME) and other healthcare providers to integrate treatment data with patients’ medical records.

ResMed also introduced myAir, a new personalised therapy management platform for sleep-disordered breathing. Personalised data from the platform is accessible from smartphones and tablets.

Finally, ResMed’s U-Sleep patient management platform has been upgraded to include a new Action View feature, to allow HME providers to easily sort patients into actionable groups.

ResMed (ASX:RMD) shares were trading 5.21% higher at $5.65 as of around 1 pm on Friday