ResMed Inc. (NYSE: RMD) recently reported 2nd Quarter result

On Yesterday ResMed Inc. (NYSE: RMD) has shown downward move of -1.21% and ended the last trade at $101.85 . The trading volume was recorded to 704,388 shares as compared to average traded volume of 1,156,146 shares.

ResMed Inc. (NYSE: RMD), a world-leading connected health company, recently reported results for its quarter ended December 31, 2018.

Discussion of Second Quarter Results

  • Revenue in combined Europe, Asia and other markets grew by 1 percent on a constant currency basis contrast to the same period of the previous year. Mask sales were strong across these markets. As predictable, device sales in France and Japan were influenced as consumers completed their connected device upgrade programs. Device sales outside France and Japan grew well.
  • Software as a Service revenue increased by 63 percent, contrast to the previous year period, Because of continued growth in our Brightree service offerings and incremental contribution from the acquisition of MatrixCare, which closed in the second quarter and HEALTHCAREfirst,¬†which closed in the first quarter.
  • Gross margin expanded by 70 basis points over the previous year period, primarily Because of benefits from manufacturing and procurement efficiencies, product mix changes and higher margin contribution from MatrixCare, partially offset by declines in average selling prices.
  • Selling, general and administrative expenses increased by 6 percent contrast to the previous year period, or by 8 percent on a constant currency basis. Not Including the impact of recent acquisitions, selling, general and administrative expenses increased by 4 percent on a constant currency basis. SG&A expenses improved to 24.8 percent of revenue in the quarter, contrast with 25.2 percent in the same period of the previous year.
  • Income from operations increased by 8 percent and non-GAAP income from operations increased by 15 percent contrast to the previous year period.
  • Net income increased by 1,208 percent, predominantly attributable to the one-time transition tax recognized in the previous year quarter and non-GAAP net income remained stable contrast to the previous year period. Non-GAAP measures adjust for amortization of purchased intangibles; MatrixCare deferred revenue, acquisition-related expenses, and the impact of U.S. tax reform.
  • GAAP diluted earnings per share increased by 1,129 percent, predominantly attributable to the one-time transition tax recognized in the previous year quarter, and non-GAAP diluted earnings per share remained stable contrast with the same period of the previous year.
  • Cash flow from operations for the quarter was $129.5M, contrast to net income in the current quarter of $124.6M. During the quarter we paid $52.8M in dividends.

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