ResMed said net revenue for the 3-month period ended December 31, 2023 was $1,162.8 million, up $129.1 million, or 12%, from $1,033.7 million in the prior-year period. On a constant currency basis, the increase was 11%.

1. 01

   ResMed said net revenue for the 3-month period ended December 31, 2023 was $1,162.8 million, up $129.1 million, or 12%, from $1,033.7 million in the prior-year period. On a constant currency basis, the increase was 11%.

2. 02

   The company said its gross margin for the 3 months was 55.6%, compared with 56.1% in the prior-year period. It cited a $6.4 million provision for expected costs tied to the field safety notification for masks with magnets and higher amortization of acquired intangible assets as factors.

3. 03

   The company said it recorded restructuring-related charges of $64.2 million for the 3-month and 6-month periods ended December 31, 2023. It said the charges consisted of $28.6 million for employee severance and other one-time termination benefits, $33.2 million for intangible asset impairments, and $2.4 million for other asset impairments.

4. 04

   ResMed said operating cash flow for the 6 months was $559.1 million, up $385.8 million from $173.3 million in the prior-year period. As of December 31, 2023, the combined outstanding balance under its Revolving Credit Agreement, Term Credit Agreement and Senior Notes was $1,230.0 million.

Key figures

Quarter ended December 31, 2023

Revenue

$1.2B

Operating income

$275M

Net income

$209M

EPS

$1.42

Gross profit

$647M

Analysis scope · Management's discussion (MD&A)We analyzed excerpts of the Management's Discussion and Analysis (MD&A) section (with omissions). Other sections of the report, such as the notes to the financial statements and risk factors, were not reviewed.

AI summarized the filing and translated the summary into English; it may differ from the original. For reference only, not investment advice. AI translated the published Korean report into English. Figures are copied as filed, not recalculated.

Original filing

The filing as submitted to SEC EDGAR. You can check the figures and statements of this summary against it.