Shares of ResMed Inc. (RMD, Financial) fell nearly 20% on Friday after announcing second-quarter results. The company posted earnings of $1 per share on $551.1million in revenue, reflecting 8.3% growth from the year-ago quarter. The company beat earnings estimates by 7 cents, but fell $15.58 million short of revenue expectations.Ă‚
“We had a solid quarter with top-line growth and gross margin expansion, as well as continued fiscal discipline to drive leverage and improved operating profit,” CEO Mick Farrell said.
The gross margin inched up 70 basis points to 58.9%, driven by efficiencies, product mix changes and higher margin contribution from MatrixCare.
Shares of Intuitive Surgical Inc. (ISRG, Financial) fell almost 5% on Friday after the company announced fourth-quarter earnings of $2.96 per share on $1.05 billion in revenue, 17.7% year-over-year growth. The company fell 11 cents short of earnings estimates, but beat revenue expectations by $10 million.
Instrument and accessory revenue rose 18% to $539 million, up from $457 million recorded in the prior-year quarter. Systems revenue increased 20% to $341 million, up $56 million from a year ago. Services revenue was $166.6 million, up $16.2 million.Â
Internationally, revenues totaled $307 million, reflecting 24% year-over-year growth.
Shares of OSI Systems Inc. (OSIS, Financial) gained more than 12% after reporting second-quarter earnings of $1.19 per share on $303.2 million in revenue, growing 9.2% year over year. The company managed to beat earnings estimates by 23 cents and revenue expectations by $16.02 million.
Looking ahead to fiscal 2019, the company expects sales between $1.150 billion and $1.185 billion and non-GAAP earnings in the range of $3.93 to $4.10 per share.
Disclosure:The author holds no positions in any stocks mentioned.
