Impressive Q1.14 Results for ResMed Inc. (NYSE:RMD)

Denver, CO, 10/28/2013 (Avauncer.com) – Last Thursday through a conference call, the management of ResMed Inc. (NYSE:RMD) announced the Q1 results for the 2014 fiscal year. The results showed some strong gains in the company and some strides made in the right direction.

The company’s revenue grew by 5% year on year to $358 million. This is a 4% growth on constant currency basis. In America, the company’s revenue grew by 4% raking in a total of $202 million while the rest of the world markets including Europe and Asia increased by 7% to bring in $156.2 million representing a 5% increase on constant currency basis.

The global growth of the company remained in the region of between 6% and 8% while the global flow generator growth stood between 4% and 6%. The global mask category was between 8% and 10% with the net income shooting up by 14% to come in at $81 million while the earnings per share rose from 0.49 cents per share to 0.56 cents per share representing a 14% increase.

Despite facing tough product cycle, the company as asserted by the CEO Mick Farrell is confident that the just released mask products that have so far received good reception like the FX Nano, The Quattro and The Swift have given them the encouragement and will boost their sales.

However, this news came as bitter sweet to their shares at the NYSE as after the announcement the company’s shares started slipping downwards. This saw the company’s stock down 6.53 to trade 54,000 shares. The company on Thursday finished 0.80 down to close at $56.31. The better news for the shareholders is that the CEO also said that the board of directors had declared a $0.25 per share dividend payout that was payable on December 18 2013. The dividend would be paid out in American dollars for shareholders in America while their counterparts in Australia would receive an equivalent of the same in their local currency depending on the exchange rates.

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