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ResMed Inc. Announces Record Financial Results For The Quarter Ended And Six Months Ended December 31, 2012
Date:1/24/2013

SAN DIEGO, Jan. 24, 2013 /PRNewswire/ -- ResMed Inc. (NYSE: RMD) today announced record revenue and income for the quarter ended December 31, 2012.  Revenue for the quarter ended December 31, 2012 was $376.5 million, a 13% increase (a 14% increase on a constant currency basis) over the quarter ended December 31, 2011.  For the quarter ended December 31, 2012, net income was $77.9 million, an increase of 24% compared to the quarter ended December 31, 2011.  Diluted earnings per share for the quarter ended December 31, 2012 were $0.53, an increase of 26% compared to the quarter ended December 31, 2011.  

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SG&A expenses were $107.8 million for the quarter ended December 31, 2012, an increase of 7% (an 8% increase on a constant currency basis) over the quarter ended December 31, 2011.  The increase in SG&A was primarily due to expenses necessary to support sales growth.  SG&A costs were 28.6% of revenue in the quarter ended December 31, 2012, compared to 30.2% in the quarter ended December 31, 2011.R&D expenses were $30.3 million for the quarter ended December 31, 2012, or 8.1% of revenue. R&D expenses increased by 11% (also an 11% increase on a constant currency basis) compared to the quarter ended December 31, 2011. 

The company amortized acquired intangibles of $2.5 million ($1.9 million, net of tax) during the quarter ended December 31, 2012.  Stock-based compensation costs incurred during the quarter ended December 31, 2012 of $9.5 million ($6.5 million, net of tax) consisted of expenses associated with stock options, restricted stock units, and our employee stock purchase plan.  

For the six months ended December 31, 2012, revenue was $716.3 million, an increase
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