This Day On The Street
Continue to site right-arrow
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
Stocks Under $10 with 50-100% upside potential - 14 days FREE!

ResMed's CEO Discusses Q3 2012 Results - Earnings Call Transcript

Stocks in this article: RMD

These factors are discussed in ResMed's SEC filings, such as forms 10-Q and 10-K, which may be accessed through the company's website at

With that said, I would like to turn the call over to Dr. Peter Farrell, ResMed's Chairman and CEO. Dr. Farrell, please go ahead, sir.

Peter C. Farrell

Thank you, Angela, and I think we still have some time left. And thanks, everyone for joining us. I'll begin with some summary remarks, and then turn the call over to Brett Sandercock, our CFO. And Brett will provide more granularity on the numbers. And then we'll go to Q&A. So first, the financials. A short summary. We finished with a very solid quarter. Global revenues were $349.1 million, up 11% headline in growth or 13% constant currency. Revenues in the Americas grew by an extremely robust 18% year-over-year to $189.9 million and ROW revenue increased by 4% headline or 7% in constant currency to $159.2 million. This represents the 69th consecutive quarter in which we've grown the top line that is quarter-over-quarter since we went public in 1995. And obviously we're pleased with that result and will be able to continue that record growth. Net profit after tax increased 21% to $64.6 million while GAAP EPS increased by robust 29% to $0.44 for the quarter. Excluding amortization of acquired intangibles, EPS was a record $0.46.

With respect to product performance, let me first start with masks, this category continued to perform extremely well especially in the Americas. The 3 new masks in the Forex trilogy, the Quattro FX, the Mirage FX and the Swift FX, as well as the for her versions of these masks continued to enjoy brisk sales. In fact, the Mirage FX is doing particularly well and we are steadily gaining additional share in this category. In fact, our data show that the Mirage FX is currently the biggest selling nasal mask on a global basis. And the new Swift FX Bella, mask for female patients, with loops that wrap around the ears, and this allows us to not have additional headgear, that is also doing very well and we expect to see continuing traction with it.

2 of 3

Select the service that is right for you!

Action Alerts PLUS
Try it NOW

Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
  • Weekly roundups
TheStreet Quant Ratings
Try it NOW
Only $49.95/yr

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
  • Upgrade/downgrade alerts
Stocks Under $10
Try it NOW

David Peltier, uncovers low dollar stocks with extraordinary upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
  • Weekly roundups
Dividend Stock Advisor
Try it NOW

Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Alerts when market news affect the portfolio
  • Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
Real Money Pro
Try it NOW

All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.

Product Features:
  • Real Money + Doug Kass Plus 15 more Wall Street Pros
  • Intraday commentary & news
  • Ultra-actionable trading ideas
Options Profits
Try it NOW

Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • 100+ monthly options trading ideas
  • Actionable options commentary & news
  • Real-time trading community
  • Options TV
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!


DOW 17,804.80 +26.65 0.15%
S&P 500 2,070.65 +9.42 0.46%
NASDAQ 4,765.38 +16.9840 0.36%

Brokerage Partners

Rates from

  • Mortgage
  • Credit Cards
  • Auto

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs