MassDevice

The Medical Device Business Journal — Medical Device News & Articles | MassDevice

  • Latest News
  • Cardiovascular
  • Orthopedics
  • Wall Street Beat
    • Funding Roundup
    • Mergers & Acquisitions
  • Podcasts
    • MPR: Breakthrough Products Series
  • Resources
    • About MassDevice
    • Newsletter Signup
    • Job Board
    • Leadership in Medtech
    • Manufacturer Search
    • Videos
    • Whitepapers
  • DeviceTalks
You are here: Home / Featured / ResMed gains on fiscal Q4 beats

ResMed gains on fiscal Q4 beats

July 26, 2019 By Brad Perriello Leave a Comment

ResMed (NYSE:RMD) shares are up today just before the market’s open on fiscal fourth-quarter results that topped analysts’ expectations.

The San Diego-based respiratory devices maker reported profits of $68.8 million, or 48¢ per share, on sales of $705.0 million for the three months ended June 30, for a bottom-line slide of -37.3% on sales growth of 13.1% compared with fiscal Q4 2018. Adjusted to exclude one-time items, earnings per share were 95¢, 3¢ ahead of the consensus on Wall Street, where analysts were looking for sales of $701.6 million.

Fiscal 2019 profits were $404.6 million, or $2.80 per share, on sales of $2.61 billion, marking a 28.2% profit gain on sales growth of 11.4% compared with fiscal 2018. Adjusted EPS came in at $3.64, missing the consensus by 31¢; analysts were looking for sales of $2.87 billion.

“We finished fiscal year 2019 with double-digit revenue growth to $2.6 billion and operating profit up 18% on a non-GAAP basis. Recent mask launches have driven market share gains while continued adoption of our SaaS solutions is driving both revenue growth and a steady margin profile,” CEO Mick Farrell said in prepared remarks. “We delivered another quarter of operating leverage, which gives us flexibility as we execute on our long-term strategy to provide innovative products, software, and solutions to improve health outcomes, create efficiencies, and reduce overall healthcare system costs. Our pipeline is solid; we are well-positioned as we enter fiscal year 2020 on a trajectory to improve 250 million lives in out-of-hospital healthcare in 2025.”

RMD shares were up 4.6% to $129.50 apiece today in pre-market trading.

Filed Under: Featured, MassDevice Earnings Roundup, Respiratory, Wall Street Beat Tagged With: ResMed Inc.

In case you missed it

  • Edwards projects $5 billion in sales for 2020
  • SPR Therapeutics announces 1000th placement of nerve stimulation device
  • The best places to work for medtech sales reps
  • DePuy Synthes issues urgent field safety notice for USS II Polyaxial 3D heads
  • Haemonetics (HAE) launches SafeTrace Tx in North America
  • Vicarious Surgical wins FDA breakthrough designation for surgical robot
  • Natus Medical issues field safety notice for snap electrode leads
  • J&J’s Ethicon gets to substitute 20 new claims on surgical stapler patent
  • Minerva Surgical raises $10m
  • Leo Pharma, Portal Instruments partner to develop needle-free drug delivery device
  • Orthofix names new president of global spine business
  • J&J Vision launches Tecnis Toric II intraocular lens in U.S.
  • NOUS Imaging picks up $6.6m for brain-imaging software
  • MicroVention issues safety notice for Azur endovascular embolization products
  • New study touts positive long-term results for Boston Sci’s Watchman
  • 3M issues safety notice for Durapore Advanced surgical tape
  • FDA clearance positions Sight Diagnostics to deliver on two-drop blood testing promise

RSS From Medical Design & Outsourcing

Leave a Reply Cancel reply

You must be logged in to post a comment.

Need Medtech news in a minute?
We Deliver!

MassDevice Enewsletters get you caught up on all the mission critical news you need in med tech. Sign up today.

Popular Posts

  • Report: SEC probes GE Healthcare, Philips, Siemens in Chinese bribery scheme
  • Edwards Lifesciences warns against below-market mini-tender offer Edwards Lifesciences
  • J&J’s Ethicon files ITC complaint against Intuitive Surgical Intuitive Surgical's EndoWrist instruments
  • Auris Health loses motion to move Intuitive Surgical patent suit from Del. to Cali. Johnson & Johnson's Auris, Intuitive Surgical
  • Enable Injections inks deal with Sanofi for drug delivery platform enfuse-enable-injections
Tweets by @MassDevice
MDO ad

MASSDEVICE MEDICAL NETWORK

DeviceTalks
Drug Delivery Business News
Medical Design & Outsourcing
Medical Tubing + Extrusion

MASSDEVICE

Subscribe to MassDevice
Advertise with us
About
Contact us
Add us on FacebookMassDevice Network
Follow us on Twitter@MassDevice
Connect with us on LinkedInLinkedIn
Follow us on YouTube YouTube

Copyright © 2019 · WTWH Media LLC and its licensors. All rights reserved.
The material on this site may not be reproduced, distributed, transmitted, cached or otherwise used, except with the prior written permission of WTWH Media.

Advertise | Privacy Policy | RSS