Resmed first quarter revenue lifts 9% to $2b

The news: Sleep support device manufacturer Resmed has posted revenue of USD1.3 billion ($1.98 billion) in the September quarter, delivering a year-on-year increase of 9% amid growing margins.

The numbers: Resmed also posted a gross margin increase of 290 basis points year on year to 61.5% and net income lifted 12% year on year to USD348.5 million from USD311.4 million.

Diluted earnings per share came in at USD2.37, up from USD2.11 and the operating cash flow also came in at USD457 million.

The context: Resmed chair and CEO Mick Farrell said the company is “off to a strong start” and said its results “reinforce the success of our strategy to transform healthcare in the home with hardware, software and solutions that people love”.