ResMed (ASX:RMD) is a leading developer, manufacturer and distributor of medical equipment for treating, diagnosing, and managing sleep-disordered breathing and other respiratory disorders such as sleep apnoea.
Today RMD announced a 12% increase in 1Q11 revenue to $314.8 million. However net profit was down 11% to $50.5 million.
Although the result was affected by adverse exchange rate movements, RMD was also hit by a weak 1% increase in flow generator sales.
The sales result missed analyst estimates, causing it to become the worst performer in today’s share market action.