ResMed revenues up thanks to strong sales

ResMed (ASX:RMD) has seen revenues increase by 13% for the December quarter year on year with a dividend coming in February.

ResMed is breathing easy after revenues for the December quarter were announced to be up 13% (14% on constant currency) compared to the same quarter last year.

Revenue for the December quarter was $376.5 million with net income of $77.9 million, which represents a 24% increase on the same time last year.

The company also announced a dividend of 17c per share dated 19 February, payable on 19 March. The dividend will be paid in US currency to shareholders on the NYSE, and Australians investing through the ASX will get an equivalent amount in the local coin.

Expenses were also up 7% for the quarter at $107.8m, primarily due to expenses supporting sales growth.

Research and development was up 11% to $30.3m for the quarter, or 8.1% of revenue.

“We had a solid quarter across the board,” said Dr Peter Farrell, Chairman and Chief Executive Officer. “In the second quarter of fiscal 2013 we showed strong year-over-year growth on both top and bottom lines,” he said.

“And we believe we are in the early stages of an exciting market dynamic for sleep-disordered breathing (SDB), which we have been pioneering for many years, by offering full solutions to therapy providers and critical information for the reimbursement community.

“There was also a continuing shift to higher value flow generators, like S9 Autoset and S9 bilevels, and mask and accessory sales remained strong.”

ResMed stock (ASX:RMD) was up 5.61% to $4.52 and last traded at $45.47 on the NYSE, up 0.75%.