ResMed: Result 2013

The maker of breathing machines has reported a 30% rise in underlying earnings per share and is optimistic about the future, with good reason.

ResMed has announced a 30% increase in underlying earnings per share to US$2.22 for the 2013 financial year (for its US-listed shares which have 10 times the economic interest of its ASX-listed shares, technically 'CDIs'), fractionally ahead of the consensus analyst forecast of US$2.21. The result is roughly halfway between the ‘middling’ and ‘optimistic’ scenarios we laid out when we upgraded the stock in ResMed’s dream run continues on 25 Jan 13 (Long Term Buy – $4.52).

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