ResMed shares lift on Street-beating Q2

Shares in ResMed (NYSE:RMD) have risen in premarket trading today after the respiratory-focused device maker topped expectations on Wall Street with its 2nd quarter results. The San Diego, Calif.-based company posted profits of $76.7 million, or 54¢ per share, on sales of $530.4 million for the 3 months ended December 31. That amounts to a bottom-line slide of 19.7% while sales grew 16.7% compared with the same period in 2015. After adjusting to exclude 1-time items, earnings per share were at 73¢, ahead of the 70¢ consensus on The Street, where analysts were looking for sales of $514.7 million. “We had a strong quarter with 18% constant currency revenue growth led by solid growth in our Brightree software offerings and global device sales. We continue to pioneer game-changing products and create value with our solutions. This quarter we announced: FDA clearance for the world’s smallest travel CPAP; the creation of SleepScore Labs to focus on consumer sleep wellness; reaching the milestone of one billion nights of sleep data; and new research demonstrating that the use of myAir significantly improves patient adherence to sleep therapy in Europe. We are focused on our goal of changing the lives of 20 million patients by 2020 and we continue to lead the industry through an exciting pipeline of new products and connected care solutions that improve patient outcomes, create efficiencies for our homecare customers, and help physicians and providers better manage ...
Source: Mass Device - Category: Medical Equipment Authors: Tags: Business/Financial News Wall Street Beat ResMed Inc. Source Type: news