Respiratory equipment maker ResMed Inc (RMD.N) said quarterly net income rose 10 percent on higher sales driven by studies showing the importance of treating sleep disorders to prevent health risks including stroke in certain patient populations.The company, which makes masks and devices to assist sleep disorder breathing problems in people who suffer from sleep apnea, posted on Thursday a net profit of $58.5 million, or 37 cents per share, for its fiscal fourth quarter ended June 30. That compared with a profit of $53.2 million, or 34 cents a share, a year earlier.Adjusting for one-time items, the company earned 39 cents a share, which beat the average analyst estimate of 36 cents per share, according to Thomson Reuters I/B/E/S.Net revenue for the quarter rose 17 percent to $341.9 million.
ResMed Inc. (ResMed), is a holding company for the ResMed Group. Shares of RMD fell by 4.32% or $-1.27/share to $28.12. In the past year, the shares have traded as low as $28.75 and as high as $35.90. On average, 1026800 shares of RMD exchange hands on a given day and today's volume is recorded at 1764483.
