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RESMED Inc. Announces Results for the Fourth Quarter and Fiscal Year 2014
Date:7/31/2014

d although it is early, we are seeing encouraging traction for our AirFit™ N10 nasal mask and AirFit™ F10 full-face mask which were launched in the fourth quarter around the world. On the flow generator side in the fourth quarter, we launched the Astral™ platform, our new generation of life support ventilators, and are seeing strong uptake in Europe and Asia as sales begin to ramp. During the fourth quarter, we received FDA clearance for the Astral platform in the U.S. and anticipate a U.S. launch by the end of the calendar year." 

Farrell concluded, "We remain focused on capital management, as we continued to repurchase our shares during the quarter.  And today, we announced an increase in our quarterly dividend – the second increase since we began paying a dividend in September 2012.  We are executing against our Three Horizons strategy and expect to return to constant currency top-line growth as we ramp up our new product offerings over fiscal year 2015.  These ResMed solutions are emblematic of our goal to improve patient outcomes and quality of life, while reducing costs for global healthcare systems. In tougher times, we remain committed to disciplined management of our expenses while appropriately funding our long-term opportunities.  We remain excited about the long-term prospects of our business, with ongoing growth opportunities in treating sleep-disordered breathing, chronic obstructive pulmonary disease, and cardiorespiratory diseases."

Analysis of fourth quarter and fiscal year 2014 results
In the fourth quarter of fiscal year 2014, revenue outside the Americas was $200.3 million, a 9 percent increase over the prior year's quarter (5 percent on a constant currency basis). Revenue in the Americas was $214.9 million, a 7 percent decrease compared to $230.3 million in the prior year's quarter.

Gross margin in the fourth quarter was 62.9 percent, 20 basis points higher than the
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