ResMed Inc. (RMD, Financial) filed Quarterly Report for the period ended 2012-09-30.
Resmed Inc. has a market cap of $5.67 billion; its shares were traded at around $39.92 with a P/E ratio of 20.9 and P/S ratio of 4.1. The dividend yield of Resmed Inc. stocks is 0.4%. Resmed Inc. had an annual average earning growth of 15.1% over the past 10 years. GuruFocus rated Resmed Inc. the business predictability rank of 3.5-star.
Net revenue in North and Latin America increased for the three months ended September 30, 2012 to $194.4 million from $169.3 million for the three months ended September 30, 2011, an increase of 15%. We believe this increase primarily reflects growth in the overall sleep-disordered breathing market and growth generated from our recent product releases. Net international revenue, which includes all markets outside North and Latin America, for the three months ended September 30, 2012, was $145.4 million compared to $145.5 million for the three months ended September 30, 2011. Excluding the negative impact on revenue of movements in international currencies, international revenue grew by 9% compared to the three months ended September 30, 2011. We believe this increase in revenue outside North and Latin America primarily reflects growth in the overall sleep-disordered breathing market and growth generated from our recent product releases.
Net revenue from the sales of flow generators, including humidifiers, for the three months ended September 30, 2012 totaled $181.5 million, an increase of 6% compared to the three months ended September 30, 2011 of $171.0 million, including an increase of 17% in North and Latin America and a decrease of 2% internationally. Net revenue from the sales of masks and other accessories for the three months ended September 30, 2012 totaled $158.3 million, an increase of 10% compared to the three months ended September 30, 2011 of $143.8 million, including increases of 13% in North and Latin America and 4% internationally. Excluding the negative impact on revenue of unfavorable currency movements, international revenue increased by 7% and 13% for flow generators and masks and other accessories, respectively, for the three months ended September 30, 2012 compared to the three months ended September 30, 2011. We believe the increases primarily reflect growth in the overall sleep-disordered breathing market and contributions from new products.
Selling, general and administrative expenses increased for the three months ended September 30, 2012 to $98.3 million from $94.2 million for the three months ended September 30, 2011, an increase of $4.1 million or 4%. Selling, general and administrative expenses, as a percentage of net revenue, were 28.9% for the three months ended September 30, 2012 compared to 29.9% for the three months ended September 30, 2011.
Research and development expenses increased for the three months ended September 30, 2012 to $27.2 million from $26.2 million for the three months ended September 30, 2011, an increase of $1.0 million or 4%. Research and development expenses, as a percentage of net revenue, were 8.0% for the three months ended September 30, 2012, compared to 8.3% for the three months ended September 30, 2011.
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Resmed Inc. has a market cap of $5.67 billion; its shares were traded at around $39.92 with a P/E ratio of 20.9 and P/S ratio of 4.1. The dividend yield of Resmed Inc. stocks is 0.4%. Resmed Inc. had an annual average earning growth of 15.1% over the past 10 years. GuruFocus rated Resmed Inc. the business predictability rank of 3.5-star.
Highlight of Business Operations:
Net revenue increased for the three months ended September 30, 2012 to $339.7 million compared to $314.8 million for the three months ended September 30, 2011, an increase of $25.0 million or 8%. The increase in net revenue is primarily attributable to the growth in our flow generator and masks and accessories sales. Movements in international currencies against the U.S. dollar negatively impacted revenues by approximately $12.6 million during the three months ended September 30, 2012. Excluding the impact of unfavorable foreign currency movements, net revenue for the three months ended September 30, 2012 increased by 12% compared to the three months ended September 30, 2011.Net revenue in North and Latin America increased for the three months ended September 30, 2012 to $194.4 million from $169.3 million for the three months ended September 30, 2011, an increase of 15%. We believe this increase primarily reflects growth in the overall sleep-disordered breathing market and growth generated from our recent product releases. Net international revenue, which includes all markets outside North and Latin America, for the three months ended September 30, 2012, was $145.4 million compared to $145.5 million for the three months ended September 30, 2011. Excluding the negative impact on revenue of movements in international currencies, international revenue grew by 9% compared to the three months ended September 30, 2011. We believe this increase in revenue outside North and Latin America primarily reflects growth in the overall sleep-disordered breathing market and growth generated from our recent product releases.
Net revenue from the sales of flow generators, including humidifiers, for the three months ended September 30, 2012 totaled $181.5 million, an increase of 6% compared to the three months ended September 30, 2011 of $171.0 million, including an increase of 17% in North and Latin America and a decrease of 2% internationally. Net revenue from the sales of masks and other accessories for the three months ended September 30, 2012 totaled $158.3 million, an increase of 10% compared to the three months ended September 30, 2011 of $143.8 million, including increases of 13% in North and Latin America and 4% internationally. Excluding the negative impact on revenue of unfavorable currency movements, international revenue increased by 7% and 13% for flow generators and masks and other accessories, respectively, for the three months ended September 30, 2012 compared to the three months ended September 30, 2011. We believe the increases primarily reflect growth in the overall sleep-disordered breathing market and contributions from new products.
Selling, general and administrative expenses increased for the three months ended September 30, 2012 to $98.3 million from $94.2 million for the three months ended September 30, 2011, an increase of $4.1 million or 4%. Selling, general and administrative expenses, as a percentage of net revenue, were 28.9% for the three months ended September 30, 2012 compared to 29.9% for the three months ended September 30, 2011.
Research and development expenses increased for the three months ended September 30, 2012 to $27.2 million from $26.2 million for the three months ended September 30, 2011, an increase of $1.0 million or 4%. Research and development expenses, as a percentage of net revenue, were 8.0% for the three months ended September 30, 2012, compared to 8.3% for the three months ended September 30, 2011.
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