San Diego-based ResMed reported flat earnings on a 9 percent rise in revenue in its fourth fiscal quarter and declared a 7 percent increase in its quarterly dividend.
The maker of products to treat sleep disorders earned $87.5 million, or 61 cents per share, on revenue of $453.1 million in the period ended June 30, compared to$87.7 million, or 62 cents per share, on revenue of $415.2 million a year ago.
For the full fiscal year, the company earned $352.9 million, or $2.47 per share, on revenue of $1.679 billion, compared to $345.3 million, or $2.39 per share, on revenue of $1.555 billion in the prior fiscal year.
The board voted to increase the quarterly dividend by 7 percent to 30 cents per share, payable Sept. 17 to shareholders of record on Aug. 20.
ResMed said its results in the latest quarter were affected by a $5 million expense associated with a clinical trial and a donation of $6 million to establish an endowed chair at UC San Diego.
“We finished the year with strong double-digit constant currency revenue growth and greater than 50 percent flow generator growth in the Americas during the fourth quarter. As expected, we have also achieved a solid return to growth in our mask business. We have continued our active share repurchase program and the board has also declared an increase in our dividend,” said Mick Farrell, ResMed’s chief executive officer.
The earnings report was released after the close of the stock market, but ResMed’s shares climbed 38 cents to $56.50 in after-hours trading.