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ResMed Inc. Announces Record Financial Results for the Quarter Ended September 30, 2009.

Publication: PR Newswire
Publication Date: 05-NOV-09 		Format: Online
Delivery: Immediate Online Access

Article Excerpt
SAN DIEGO, Nov. 5 /PRNewswire-FirstCall/ -- ResMed Inc. today announced record revenue and income results for the quarter ended September 30, 2009. Revenue for the September 2009 quarter was $247.0 million, a 13% increase (a 16% increase on a constant currency basis) over the quarter ended September 30, 2008. For the quarter ended September 30, 2009, income from operations was $52.7 million and net income was $42.1 million, an increase of 44% and 50%, respectively, compared to the quarter ended September 30, 2008. Diluted earnings per share for the quarter ended September 30, 2009 was $0.55, an increase of 53% compared to the quarter ended September 30, 2008.

SG&A costs were $76.8 million for the September 2009 quarter, an increase of $5.4 million or 8% (an 11% increase on a constant currency basis) over the same period in the prior fiscal year. SG&A expenses were favorably impacted by the appreciation of the US dollar against international currencies. The increase in SG&A was primarily due to expenses necessary to support sales growth. SG&A costs were 31% of revenue in the September 2009 quarter, compared to 33% in the same period in the prior fiscal year.

R&D expenses were $17.9 million for the September 2009 quarter, or approximately 7% of revenue. R&D expenses increased by 4% (a 9% increase on...

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