SAN DIEGO – Year-over-year revenue at San Diego-based ResMed Inc. was up 14% and operating profit gained 7%. Compared to the prior-year period, revenue hit $876.1 million. “Our fourth quarter and full-year fiscal year 2021 results continue to demonstrate the strength and resiliency of our business,” said Mick Farrell, ResMed’s CEO. “During the quarter, we saw the ongoing recovery of core sleep apnea and COPD patient flow across our business, as healthcare systems continue to adopt new models of patient care. We faced some headwinds this quarter, as we annualized the $125 million in COVID-related ventilator sales from this period in 2020, and we saw some tailwinds from a competitor’s major quality issue that was announced during the quarter.

“The net result was strong revenue growth of 10% for our ResMed business in the June quarter,” Farrell continued. “We finished the full fiscal year 2021 with 6% revenue growth year-over-year to $3.2 billion, with operating profit up 12% on a non-GAAP basis. At this time of incredible demand for ResMed products, we are doing everything we can to increase our manufacturing of sleep and respiratory care devices. Our global team is supporting patients, providers, and physicians with our priority to get products directly into the hands of patients who need therapy most. Looking ahead, we are confident in our ability to grow steadily through our fiscal year 2022 and to deliver for all our stakeholders.”