ResMed lifts Q3 earnings

Strong performances in Europe, Asia-Pacific drive growth for medical technology group.

Medical technology group ResMed (RMD) has lifted its third quarter earnings 6%, despite flat sales from its key United States market.

Australian-listed ResMed, which makes sleep disorder equipment, reported net income of $US89.97 million ($A97.20m) for the three months to March 31, up from $US85m a year ago.

Total revenue for the quarter was $US398m, up 3% from a year ago on a constant-currency basis.

The growth came from the company's European and Asia-Pacific businesses, which together recorded revenue of $US181.6m, up 6% in constant currency terms.

Meanwhile, revenue from its Americas business was flat at $US216m.

Chief executive Michael Farrell said the result was encouraging given tough market conditions in the US.

"Our Americas business showed encouraging trends and we continue to benefit from our globally diversified business, with constant currency revenue growth of 6 per cent in combined Europe and Asia-Pacific businesses for the quarter," he said.

"In particular, our European results were strong across the board, with most countries showing solid growth."

ResMed shares were up 15 Australian cents, or 2.94%, at $A5.25 at 10.30am (AEST).

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