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ResMed Inc. Announces Results for the Fourth Quarter of Fiscal Year 2019
Year-over-year revenue grows 13%, gross margin improves 120 basis points, non-GAAP operating profit up 18%
Quarterly dividend increases 5% to $0.39 per share
ResMed well-positioned for first quarter fiscal year 2020 and beyond
Note: A webcast of ResMeds conference call will be available at 4:30 p.m. ET today at http://investor.resmed.com
SAN DIEGO, July 25, 2019 ResMed Inc. (NYSE: RMD, ASX: RMD), a world-leading connected health company, today announced results for its quarter ended June 30, 2019.
Fourth Quarter 2019 Highlights
Revenue increased 13% to $705.0 million; up 15% on a constant currency basis
Gross margin expanded 120 bps to 59.3%
Net operating profit decreased 18%; non-GAAP operating profit up 18%
GAAP diluted earnings per share of $0.48; non-GAAP diluted earnings per share of $0.95
Quarterly dividend increased by 5% to $0.39 per share
Full Year 2019 Highlights
Revenue increased 11% to $2.6 billion; up 13% on a constant currency basis
Gross margin expanded 80 bps to 59.0%
Net operating profit increased 7%; non-GAAP operating profit up 18%
GAAP diluted earnings per share of $2.80; non-GAAP diluted earnings per share of $3.64
We finished fiscal year 2019 with double-digit revenue growth to $2.6 billion and operating profit up 18% on a non-GAAP basis. Recent mask launches have driven market share gains while continued adoption of our SaaS solutions is driving both revenue growth and a steady margin profile, said Mick Farrell, ResMeds CEO. We delivered another quarter of operating leverage, which gives us flexibility as we execute on our long-term strategy to provide innovative products, software, and solutions to improve health outcomes, create efficiencies, and reduce overall healthcare system costs. Our pipeline is solid; we are well-positioned as we enter fiscal year 2020 on a trajectory to improve 250 million lives in out-of-hospital healthcare in 2025.
The following information was filed by Resmed Inc (RMD) on Thursday, July 25, 2019 as an 8K 2.02 statement, which is an earnings press release pertaining to results of operations and financial condition. It may be helpful to assess the quality of management by comparing the information in the press release to the information in the accompanying 10-K Annual Report statement of earnings and operation as management may choose to highlight particular information in the press release.
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