Sleep disorder device maker ResMed posted a 1% rise in net revenue to $91 million for the March quarter. The result was on 6% rise in revenue to $422.5 million.
CEO Mick Farrell says strong demand for the company’s new flow generator drove results in the quarter.
The company continued to build capabilities with the acquisition of Jaysec, a provider of cloud-based software solutions for the home medical equipment industry.
“We are executing on our long-term strategy: growing our core sleep disordered breathing market and investing in future opportunities in chronic obstructive pulmonary disease as well as cardio-respiratory conditions,” he says.
The company has been building devices and treatments for sleep-disordered breathing, chronic obstructive pulmonary disease and other chronic diseases for more than 25 years.
Its shares are down almost 8% to $8.65.