Resmed Inc (RMD) applies for coding for flow-generator platform. Appears poised to launch Airsense 10 and is due to announce its 4Q14 results tomorrow. History suggests that new product platforms are a significant driver of revenue and earnings growth. Our analysis indicates that the market is likely to re-rate RMD's PE multiple in anticipation of growth. RMD has a strong track record of delivery, I anticipate that this new product launch will be well executed. With the 4Q14 report imminent I am encouraged by the progress that RMD has made through strategic pricing agreements during 3Q14. This quarter should represent a continued turnaround for RMD. RMD is a high quality franchise with strong industry tail winds and a proven management team. I expect RMD to launch a new product platform in the near term which should drive earnings and a re-rating in the stock. For further details email:


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Kieran Berry

Revenue for the 4Q was 415.2M, FLAT compared to June 30/13 Q. EPS for the 4Q was $0.61, a 22% increase from the June 30/13 Q. Operating profit for the 4Q was $98.5 million, cash flow from operations - $115.6 million. 4Q results lower than anticipated, due to softer sales in the states, partially offset by growth in international markets. Good to see that they are gaining traction with AirFit platform and the launch of Astral platform looks OK. Flat result on a bad day in the market. Should see a re-rate upon launch of Airsense 10

James Marlay

Kieran, have you had a chance to look over the Resmed results? What were your thoughts?