Sleep management company ResMed's outlook is positive after earnings rose in the first half of the 2008/09 financial year.
Net income for the six months to December 31, 2008 rose 21.4% on the prior corresponding period to $US61.9 million ($A94.82 million), boosted by a record second quarter, during which ResMed launched several new products.
"We expect continued improvement over the course of fiscal 2009 as we benefit from accelerating sales of our high-margin masks and VPAP products,'' ResMed chief executive Kieran Gallahue said.
ResMed manufactures medical equipment for the treatment and management of breathing-related sleep disorders and other respiratory disorders. VPAP is a bi-level ventilator that helps people breathe.
ResMed shares were up 32 cents, or 5.2%, at $6.46 at noon.
Mr Gallahue said a continuing focus on managing costs and the depreciation in the Australian dollar would benefit earnings this year, and the company had a full pipeline of products for release over the next 18 months.
ResMed achieved record revenue of $US223 million ($A341.61 million) during the three months to December 31, underpinned by a 23% rise in sales in the Americas.
Sales for the quarter outside the Americas fell 3%, however, affected by currency movements, particularly the deterioration of the Euro against the US dollar.
Net income for the quarter rose 26% to $US33.9 million ($A51.93 million).
Revenue for the first half rose 14% to $US440.9 million.
AAP
