Resmed, Inc. (RMD) Tops Q2 EPS by 2c

Resmed, Inc. (NYSE: RMD) reported Q2 EPS of $0.64, $0.02 better than the analyst estimate of $0.62. Revenue for the quarter came in at $423 million versus the consensus estimate of $408.2 million.

"We are pleased to report strong double-digit revenue growth, demonstrating excellent progress with our new product launches," said Mick Farrell, ResMed's chief executive officer. "We achieved robust commercial performance across all regions, including double-digit growth in the Americas."

"During the quarter, we continued to roll out the ResMed Air Solutions Platform with the launch of our AirCurve™ 10 series of cloud-connected bilevel devices. We also continued the global roll-out of our new life support ventilation system, the Astral™ platform. We drove consumer awareness of sleep by launching the S+ by ResMed, the world's first non-contact sleep management solution that helps you monitor and improve your sleep health; we also integrated the S+ with Apple HealthKit. On the legal front, we won a patent infringement lawsuit as we defend our broad portfolio of over 5,000 patents and designs," said Farrell. "We drove top-line revenue growth in the first half of this fiscal year by launching a strong, innovative portfolio of products and solutions. Longer term, we are focused on our strategy to continue to grow our core sleep apnea market, as well as to invest in high-potential growth opportunities: helping patients with COPD, neuromuscular disease, and cardio-respiratory conditions. Our results this quarter show that our solutions continue to meet the needs of our key customer groups, including patients, physicians, healthcare providers and payers. We are executing to our mission: improving patient quality-of-life, lowering healthcare costs, and preventing chronic disease progression."

For earnings history and earnings-related data on Resmed, Inc. (RMD) click here.

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