ResMed, a San Diego-based maker of products to treat sleep disorders, said its income rose 5 percent on a 10 percent increase in revenue in its second fiscal quarter ended Dec. 31.
The company earned $91.2 million, or 64 cents per share, on revenue of $423.0 million in the quarter, compared with earnings of $86.6 million, or 60 cents per share, on sales of $384.3 million a year ago.
ResMed shares were up nearly 8 percent in midday trading on the New York Stock Exchange.
“We are pleased to report strong double-digit revenue growth, demonstrating excellent progress with our new product launches,” said Mick Farrell, ResMed’s chief executive officer. “We achieved robust commercial performance across all regions, including double-digit growth in the Americas.”
The company said research and development expenses were $29.3 million for the quarter, or 6.9 percent of revenue.
ResMed makes equipment for treating, diagnosing and managing sleep-disordered breathing, chronic obstructive pulmonary disease, and other chronic medical problems.