Respiratory devicemaker ResMed ($RMD) credits new product rollouts and organic global growth for driving its booming sales and revenue during the 2013 third quarter.
The San Diego company booked $357.7 million in net revenue, up 5% from $339.7 million generated during the 2012 third quarter. Net income surpassed $80.9 million, a nice jump over $71.3 million in net income produced over the same period a year ago.
CEO Mick Farrell said in a statement that the company benefit from sales of "higher valued" products such as flow generators, but sales of respiratory mask products and accessories also performed particularly well. He added that a number of new products slated for launch in the remaining fiscal year will give the company "plenty of opportunities for robust growth ahead."
Resmed's revenue growth also reflects a continued, steady strategy, Farrell noted.
"We are focused on continuing to improve the quality of life for patients who suffer from sleep-disordered breathing and its related co-morbidities, such as cardiology and diabetes; respiratory disorders, including chronic obstructive pulmonary disease; preventing disease progression; and saving both in-patient and out-patient costs," he said.
For the quarter, ResMed said it generated diluted earnings per share of 56 cents, up from 49 cents over the same period in 2012.
As ResMed has grown internationally, it has focused pretty aggressively on protecting its patents. ResMed is pursuing a patent fight against Chinese medical device maker BMC Medical through the International Trade Commission and in U.S. Federal Court, hoping to stop the U.S. importation of at least four contested products made by its competitor. Separately, ResMed is pursuing a similar fight against Taiwanese manufacturer APEX Medical and its U.S. distributor.
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