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Highlights:
- ResMed released its unaudited Q3 FY22 results today, stating a 14% gain in revenue.
- ResMed’s earnings per share stand at AU$1.22 per share in the given period.
- The company will further pay a quarterly dividend worth AU$0.42 per share on 16 June 2022.
The shares of ResMed Inc (ASX:RMD) were spotted trading 6.385% lower at AU$28.44 per share at 10:27 AM AEST on the ASX today (29 April). Approximately 593,000 shares of ResMed were traded after the stock market opened for trading on Friday morning.
The ASX-listed healthcare equipment developer shared its quarterly results for Q3 FY22 with its shareholders today.
The share price of ResMed has gained by more than 4% on the ASX over the past 12 months. On the other hand, RMD’s year-to-date share price fell approximately by 21% at 10:27 AM AEST on the ASX today (29 April).
Details of ResMed’s Q3 FY22 results:
ResMed reported a 14% gain in its revenue to AU$864.5 million (unaudited) on a constant currency basis. The company believes that this strong revenue was primarily driven by the high demand for its sleep and respiratory care devices.
On the other hand, ResMed’s gross margin fell by 140 basis points, and the non-GAAP gross margin also fell by 150 basis points as the company experienced higher freight and manufacturing cost, which was compensated to some extent by product mix changes and increased average selling price.
As stated above, ResMed experienced an increase in selling, general and administrative (SG&A) expenses by 17% on a constant currency basis during Q3 FY22. The rise in SG&A was primarily due to expenses related to ResMed employees.
Meanwhile, the company also reported an increased income from operations by 5%, and non-GAAP income from operations also increased by 5%.
ResMed’s unaudited net income in Q3 FY22 was AU$179 million, and its diluted earnings per share were AU$1.22. ResMed’s non-GAAP net income increased by 2%, and non-GAAP earnings per share also grew by 2% during the quarter due to strong sales.
ResMed reported an unaudited operating cash flow worth AU$117.4 million during the Q3 FY22 against AU$179 million of net income in the given period.
The company also paid dividends worth AU$61.4 million to its eligible shareholders in the March quarter (Q3 FY22).
Image source: © Lovelyday12 | Megapixl.com
Dividend distribution:
The board of ResMed determined to pay a quarterly cash dividend worth AU$0.42 per share to its eligible shareholders. This dividend of ResMed will have a record date of 12 May 2022, and the pay date is 16 June 2022. The shareholders of ResMed trading on the New York Stock Exchange will be paid in US$, and an equivalent amount will also be paid to ResMed shareholders trading on the ASX.
Read more: From Resmed to CSL: Earnings hits & misses of ASX healthcare sector
Overview of Q3 FY22 results:
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About ResMed:
ResMed Inc is an ASX-listed healthcare company which is predominantly involved with developing equipment to treat respiratory diseases. The company is a San Diego based company with a market capitalisation of AU$44.43 billion.
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