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ResMed Inc. Announces Record Financial Results For The Quarter Ended September 30, 2013
Date:10/24/2013

SAN DIEGO, Oct. 24, 2013 /PRNewswire/ -- ResMed Inc. (NYSE: RMD) today announced record results for the quarter ended September 30, 2013.  Revenue for the quarter ended September 30, 2013 was $357.7 million, a 5% increase (a 4% increase on a constant currency basis) over the quarter ended September 30, 2012.  For the quarter ended September 30, 2013, net income was $80.9 million, an increase of 14% compared to the quarter ended September 30, 2012.  Diluted earnings per share for the quarter ended September 30, 2013 were $0.56, a 14% increase compared to the quarter ended September 30, 2012.

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SG&A expenses were $101.3 million for the quarter ended September 30, 2013, an increase of $3.0 million, or 3% (a 4% increase on a constant currency basis) compared to the quarter ended September 30, 2012. SG&A costs were 28.3% of revenue in the quarter ended September 30, 2013, compared to 28.9% for the quarter ended September 30, 2012.  SG&A expenses were favorably impacted by the depreciation of the Australian dollar against the U.S. dollar.

R&D expenses were $27.4 million for the quarter ended September 30, 2013, or 7.7% of revenue. R&D expenses increased by 1% (a 9% increase on a constant currency basis) compared to the quarter ended September 30, 2012. R&D expenses were favorably impacted by the depreciation of the Australian dollar against the U.S. dollar.

Amortization of acquired intangibles totaled $2.4 million ($1.8 million, net of tax) during the quarter ended September 30, 2013. Stock-based compensation costs incurred during the quarter ended September 30, 2013 of $10.8 million ($8.8 million, net of tax) consisted of expenses associated with stock options, restricted stock units, and
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SOURCE ResMed Inc.
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