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Resmed Inc (RMD) SEC Filing 10-K Annual report for the fiscal year ending Thursday, June 30, 2011

Resmed Inc

CIK: 943819 Ticker: RMD

Exhibit 99.1

LOGO

RESMED INC. ANNOUNCES RECORD FINANCIAL RESULTS FOR THE

QUARTER AND TWELVE MONTHS ENDED JUNE 30, 2011

- ResMed also Announces Acquisition of Gründler GmbH

SAN DIEGO, California, August 4, 2011 - ResMed Inc. (NYSE: RMD) today announced record revenue and income for the quarter ended June 30, 2011. Revenue for the quarter ended June 30, 2011 was $341.9 million, a 17% increase (an 11% increase on a constant currency basis) over the quarter ended June 30, 2010. For the quarter ended June 30, 2011, net income was $58.5 million, an increase of 10% compared to the quarter ended June 30, 2010. Diluted earnings per share for the quarter ended June 30, 2011 were $0.37, an increase of 9% compared to the quarter ended June 30, 2010.

SG&A expenses were $102.3 million for the quarter ended June 30, 2011, an increase of $18.5 million, or 22% (a 13% increase on a constant currency basis) compared to the quarter ended June 30, 2010. SG&A costs were 29.9% of revenue in the quarter ended June 30, 2011, compared to 28.8% for the quarter ended June 30, 2010. SG&A expenses were negatively impacted by the appreciation of the Australian dollar and euro against the U.S. dollar.

R&D expenses were $27.0 million for the quarter ended June 30, 2011, or 7.9% of revenue. R&D expenses increased by 35% (an 11% increase on a constant currency basis) compared to the quarter ended June 30, 2010. R&D expenses were primarily impacted by the appreciation of the Australian dollar and euro against the U.S. dollar.

The company amortized acquired intangibles of $2.9 million ($1.9 million, net of tax) during the quarter ended June 30, 2011. Stock-based compensation costs incurred during the quarter ended June 30, 2011 of $7.5 million ($5.4 million, net of tax) consisted of expenses associated with stock options, restricted stock units, and our employee stock purchase plan.

For the year ended June 30, 2011, revenue was $1.2 billion, an increase of 14% over the year ended June 30, 2010 (a 13% increase on a constant currency basis). For the year ended June 30, 2011, net income was $227.0 million, an increase of 19% compared to the year ended June 30, 2010. Diluted earnings per share for the year ended June 30, 2011 were $1.44, an increase of 17% compared to the year ended June 30, 2010.

Inventory, at $200.8 million, increased by $15.1 million compared to June 30, 2010. Accounts receivable days sales outstanding, at 69 days, decreased by 2 days compared to June 30, 2010.

Peter C. Farrell Ph.D, chairman and chief executive officer, commented, “In the fourth quarter of fiscal 2011 we continued to show strong year-over-year growth. Revenue in Americas increased by 14% to $182.8 million over the prior year’s quarter. Revenue outside Americas increased by 22% to $159.1 million over the prior year’s quarter, or an 8% increase on a constant currency basis. Operating profit for the June quarter was $66.7 million and cash flow from operations was a robust $74.3 million, demonstrating excellent operating performance.”

The company also announced today the acquisition, on August 1st, of German-based Gründler GmbH, a developer of innovative medical humidification products. These humidifiers can be used with a wide range of ventilators, from neonatal and pediatric, to non-invasive pressure support, to those used in the intensive care unit. ResMed will retain Gründler’s existing staff and facilities, and the business will become part of ResMed’s newly-created Respiratory Care Strategic Business Unit. The transaction is not expected to have a material impact on ResMed’s financial results.

Dr. Farrell continued, “We not only had a strong quarter and year, but we have been active in the last few months with small technology-focused acquisitions and partnerships that will further our strategy to reach deeper into the vastly underpenetrated market for sleep-disordered breathing, as well as serve existing patients. In May, we informed you of our reorganization with the intention to be more aggressive in driving our key strategic initiatives and we have done just that. With the BiancaMed acquisition in July of this year, we can provide an innovative, convenient, non-contact device to monitor sleep and breathing in the home and hospital, while increasing our focus


The following information was filed by Resmed Inc (RMD) on Thursday, August 4, 2011 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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Document And Entity Information
Consolidated Balance Sheets
Consolidated Balance Sheets (parenthetical)
Consolidated Statements Of Cash Flows
Consolidated Statements Of Income
Consolidated Statements Of Stockholders' Equity And Comprehensive Income
Accrued Expenses
Accrued Expenses (schedule Of Accrued Expenses) (details)
Accrued Expenses (tables)
Commitments
Commitments (schedule Of Details Of Commercial Commitments) (details)
Commitments (schedule Of Details Of Contractual Obligations) (details)
Commitments (schedule Of Future Minimum Lease Payments) (details)
Commitments (tables)
Comprehensive Income
Comprehensive Income (components Of Accumulated Other Comprehensive Income) (details)
Comprehensive Income (tables)
Derivative Instruments And Hedging Activities
Derivative Instruments And Hedging Activities (fair Value And Effect Of Derivative Instruments On Consolidated Financial Statements) (details)
Derivative Instruments And Hedging Activities (narrative) (details)
Derivative Instruments And Hedging Activities (tables)
Employee Retirement Plans
Employee Retirement Plans (details)
Fair Value Measurements
Fair Value Measurements (reconciliation For Fair Value Measurements Using Significant Unobservable Inputs) (details)
Fair Value Measurements (summary Of Financial Assets And Liabilities) (details)
Fair Value Measurements (tables)
Goodwill
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Goodwill (tables)
Income Taxes
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Income Taxes (schedule Of Changes To Unrecognized Tax Benefits) (details)
Income Taxes (schedule Of Deferred Tax Assets And Liabilities Classified As Current And Non-current) (details)
Income Taxes (schedule Of Income Before Income Taxes Under The Jurisdictions) (details)
Income Taxes (schedule Of Provision For Income Tax Differ From The Amount Of Income Tax) (details)
Income Taxes (schedule Of Provision For Income Taxes) (details)
Income Taxes (tables)
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Inventories (tables)
Legal Actions And Contingencies
Legal Actions And Contingencies (details)
Long-term Debt
Long-term Debt (narrative) (details)
Long-term Debt (schedule Of Long-term Debt) (details)
Long-term Debt (tables)
New Accounting Pronouncements
Organization And Basis Of Presentation
Other Intangibles, Net
Other Intangibles, Net (amortization Expense Related To Identifiable Intangible Assets, Including Patents) (details)
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Other Intangibles, Net (patents And Other Intangibles) (details)
Other Intangibles, Net (tables)
Other, Net
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Other, Net (tables)
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Stockholders' Equity
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Stockholders' Equity (schedule Of Total Stock-based Compensation Costs Incurred And Associated Tax Benefit) (details)
Stockholders' Equity (tables)
Subsequent Events
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Summary Of Significant Accounting Policies
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Summary Of Significant Accounting Policies (policy)
Summary Of Significant Accounting Policies (schedule Of Assumptions For Fair Value Of Stock Options And Purchase Rights Granted) (details)
Summary Of Significant Accounting Policies (schedule Of Calculation Of Basic And Diluted Earnings Per Share) (details)
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Summary Of Significant Accounting Policies (tables)
Valuation And Qualifying Accounts And Reserves
Valuation And Qualifying Accounts And Reserves (schedule Of Valuation And Qualifying Accounts And Reserves) (details)
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Ticker: RMD
CIK: 943819
Form Type: 10-K Annual Report
Accession Number: 0001193125-11-224622
Submitted to the SEC: Tue Aug 16 2011 8:19:34 PM EST
Accepted by the SEC: Wed Aug 17 2011
Period: Thursday, June 30, 2011
Industry: Surgical And Medical Instruments And Apparatus

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