Resmeds net income improves in June 2022 quarter and FY2022 results

Resmed Inc (ASX: RMD) has released its Q4 FY2022 and FY2022 results for the period ended 30 June 2022.

During the June 2022 quarter:

• The company reported a 4% increase in the revenue compared to the previous corresponding period (pcp).
•  Income from operations increased 6% on pcp.
•  Gross margin improved by 110 pbs to 57.1% on pcp.
• Diluted EPS for the period was US$1.33 per share.

In FY2022:

• The Company’s revenue increased 12% to US$3.6 billion compared to FY2021.
• Income from operations improved 11% on pcp.
• Gross margin tapered 90 bps to 56.6% on pcp.
• Diluted EPS for the period was US$5.30 per share.

Major Developments in June 2022 quarter:

• The Company adopted most advanced platform innovation to date, the 100% cloud-connectable AirSense 11 and launched it in various nations in Europe.
• Introduced its latest device to meet the requirements of an industry crisis in PAP supply, the AirSense 10 Card-to-Cloud solution.
• The card-to-cloud device was launched into the U.S. as well as several other markets. It is designed to work in the absence of an embedded communications module. The redesign helped RMD to surge deliveries to customers and eventually get more patients onto life-saving sleep apnea and respiratory care therapy.

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