Note: A webcast of ResMed’s conference call will be available at 4:30 p.m. ET today at http://investor.resmed.com
SAN DIEGO, April 28, 2022 (GLOBE NEWSWIRE) -- ResMed Inc. (NYSE: RMD, ASX: RMD) today announced results for its quarter ended March 31, 2022.
Third Quarter 2022 HighlightsAll comparisons are to the prior year period
“Our third-quarter results reflect strong performance across our business, resulting in double-digit top-line revenue growth including extraordinary demand in our sleep and respiratory care business segment as well as solid high-single-digit growth in our software-as-a-service segment,” said Mick Farrell, ResMed CEO. “I am proud of our global team’s ability to pivot and drive continued growth while ongoing supply chain disruptions and a competitor’s recall continue to limit our ability to meet the incredible demand for our products. We remain focused on delivering products, software, and services for patients, working closely with our supply chain partners as well as physicians, providers, and beyond, to prioritize care for patients who most need it.
“While the current industry and macroeconomic environment remain uncertain, our long-term strategy allows us to keep our focus on helping 250 million lives in 2025. Our end-market demand from patients and providers remains strong, and our digital health technologies continue to deliver value. We are supporting patients with the world-leading portfolio of sleep apnea therapy, respiratory care therapy, and digital health solutions they need, as we deliver value for all of our customers.”
Financial Results and Operating MetricsUnaudited; $ in millions, except for per share amounts
Three Months Ended | |||||||||||||
March 31, 2022 | March 31, 2021 | % Change | Constant Currency (A) | ||||||||||
Revenue | $ | 864.5 | $ | 768.8 | 12 | % | 14 | % | |||||
Gross margin (B) | 56.8 | % | 58.2 | % | (2 | ) | |||||||
Non-GAAP gross margin (B) | 58.1 | % | 59.6 | % | (3 | ) | |||||||
Selling, general, and administrative expenses | 182.4 | 160.4 | 14 | 17 | |||||||||
Research and development expenses | 66.8 | 55.9 | 19 | 22 | |||||||||
Income from operations | 234.3 | 223.4 | 5 | ||||||||||
Non-GAAP income from operations (B) | 253.0 | 241.8 | 5 | ||||||||||
Net income (loss) | 179.0 | (78.5 | ) | NM | |||||||||
Non-GAAP net income (B) | 193.3 | 190.4 | 2 | ||||||||||
Diluted earnings (loss) per share | $ | 1.22 | $ | (0.54 | ) | NM | |||||||
Non-GAAP diluted earnings per share (B) | $ | 1.32 | $ | 1.30 | 2 |
NM Not meaningful
Nine Months Ended | |||||||||||||
March 31, 2022 | March 31, 2021 | % Change | Constant Currency (A) | ||||||||||
Revenue | $ | 2,663.4 | $ | 2,320.7 | 15 | % | 15 | % | |||||
Gross margin (B) | 56.4 | % | 58.1 | % | (3 | ) | |||||||
Non-GAAP gross margin (B) | 57.6 | % | 59.8 | % | (4 | ) | |||||||
Selling, general, and administrative expenses | 544.5 | 488.9 | 11 | 13 | |||||||||
Research and development expenses | 189.3 | 165.4 | 14 | 15 | |||||||||
Income from operations | 744.9 | 662.0 | 13 | ||||||||||
Non-GAAP income from operations (B) | 801.3 | 733.4 | 9 | ||||||||||
Net income | 584.4 | 279.4 | 109 | ||||||||||
Non-GAAP net income (B) | 631.5 | 582.2 | 8 | ||||||||||
Diluted earnings per share | $ | 3.97 | $ | 1.91 | 108 | ||||||||
Non-GAAP diluted earnings per share (B) | $ | 4.30 | $ | 3.98 | 8 |
(A) In order to provide a framework for assessing how our underlying businesses performed excluding the effect of foreign currency fluctuations, we provide certain financial information on a “constant currency” basis, which is in addition to the actual financial information presented. In order to calculate our constant currency information, we translate the current period financial information using the foreign currency exchange rates that were in effect during the previous comparable period. However, constant currency measures should not be considered in isolation or as an alternative to U.S. dollar measures that reflect current period exchange rates, or to other financial measures calculated and presented in accordance with U.S. GAAP.
(B) See the reconciliation of non-GAAP financial measures in the table at the end of the press release.
Discussion of Third Quarter ResultsAll comparisons are to the prior year period unless otherwise noted
Other Business and Operational Highlights
Dividend programThe ResMed board of directors today declared a quarterly cash dividend of $0.42 per share. The dividend will have a record date of May 12, 2022, payable on June 16, 2022. The dividend will be paid in U.S. currency to holders of ResMed’s common stock trading on the New York Stock Exchange. Holders of CHESS Depositary Interests (“CDIs”) trading on the Australian Securities Exchange will receive an equivalent amount in Australian currency, based on the exchange rate on the record date, and reflecting the 10:1 ratio between CDIs and NYSE shares. The ex-dividend date will be May 11, 2022, for common stockholders and for CDI holders. ResMed has received a waiver from the ASX’s settlement operating rules, which will allow ResMed to defer processing conversions between its common stock and CDI registers from May 11, 2022, through May 12, 2022, inclusive.
Webcast detailsResMed will discuss its third-quarter fiscal year 2022 results on its webcast at 1:30 p.m. U.S. Pacific Time today. The live webcast of the call can be accessed on ResMed’s Investor Relations website at investor.resmed.com. Please go to this section of the website and click on the icon for the “Q3 2022 Earnings Webcast” to register and listen to the live webcast. A replay of the earnings webcast will be accessible on the website and available approximately two hours after the live webcast. In addition, a telephone replay of the conference call will be available approximately two hours after the webcast by dialing +1 877-660-6853 (U.S.) or +1 201-612-7415 (outside U.S.) and entering the passcode 13727876. The telephone replay will be available until May 12, 2022.
About ResMedAt ResMed (NYSE: RMD, ASX: RMD) we pioneer innovative solutions that treat and keep people out of the hospital, empowering them to live healthier, higher-quality lives. Our digital health technologies and cloud-connected medical devices transform care for people with sleep apnea, COPD, and other chronic diseases. Our comprehensive out-of-hospital software platforms support the professionals and caregivers who help people stay healthy in the home or care setting of their choice. By enabling better care, we improve quality of life, reduce the impact of chronic disease, and lower costs for consumers and healthcare systems in more than 140 countries. To learn more, visit ResMed.com and follow @ResMed.
Safe harbor statementStatements contained in this release that are not historical facts are “forward-looking” statements as contemplated by the Private Securities Litigation Reform Act of 1995. These forward-looking statements – including statements regarding ResMed’s projections of future revenue or earnings, expenses, new product development, new product launches, new markets for its products, the integration of acquisitions, litigation, and tax outlook – are subject to risks and uncertainties, which could cause actual results to materially differ from those projected or implied in the forward-looking statements. Additional risks and uncertainties are discussed in ResMed’s periodic reports on file with the U.S. Securities & Exchange Commission. ResMed does not undertake to update its forward-looking statements.
Condensed Consolidated Statements of Operations(Unaudited; $ in thousands, except for per share amounts)
Three Months Ended | Nine Months Ended | ||||||||||||||
March 31, 2022 | March 31, 2021 | March 31, 2022 | March 31, 2021 | ||||||||||||
Net revenue | $ | 864,500 | $ | 768,767 | $ | 2,663,390 | $ | 2,320,722 | |||||||
Cost of sales | 362,321 | 310,585 | 1,128,314 | 933,021 | |||||||||||
Amortization of acquired intangibles (1) | 10,982 | 10,924 | 33,271 | 34,066 | |||||||||||
Restructuring—cost of sales (1) | — | — | — | 5,232 | |||||||||||
Total cost of sales | $ | 373,303 | $ | 321,509 | $ | 1,161,585 | $ | 972,319 | |||||||
Gross profit | $ | 491,197 | $ | 447,258 | $ | 1,501,805 | $ | 1,348,403 | |||||||
Selling, general, and administrative | 182,401 | 160,446 | 544,483 | 488,904 | |||||||||||
Research and development | 66,801 | 55,941 | 189,258 | 165,409 | |||||||||||
Amortization of acquired intangibles (1) | 7,730 | 7,445 | 23,175 | 23,377 | |||||||||||
Restructuring—operating expenses (1) | — | — | — | 8,673 | |||||||||||
Total operating expenses | $ | 256,932 | $ | 223,832 | $ | 756,916 | $ | 686,363 | |||||||
Income from operations | 234,265 | 223,426 | 744,889 | 662,040 | |||||||||||
Other income (expenses), net: | |||||||||||||||
Interest income (expense), net | $ | (5,462 | ) | $ | (5,823 | ) | $ | (16,770 | ) | $ | (18,341 | ) | |||
Loss attributable to equity method investments | (2,627 | ) | (4,969 | ) | (5,927 | ) | (9,895 | ) | |||||||
Gain (loss) on equity investments | (1,735 | ) | 4,666 | (527 | ) | 9,442 | |||||||||
Other, net | 1,878 | 705 | 729 | 1,205 | |||||||||||
Total other income (expenses), net | (7,946 | ) | (5,421 | ) | (22,495 | ) | (17,589 | ) | |||||||
Income before income taxes | $ | 226,319 | $ | 218,005 | $ | 722,394 | $ | 644,451 | |||||||
Income taxes | 47,307 | 296,486 | 138,018 | 365,046 | |||||||||||
Net income (loss) | $ | 179,012 | $ | (78,481 | ) | $ | 584,376 | $ | 279,405 | ||||||
Basic earnings per share | $ | 1.22 | $ | (0.54 | ) | $ | 4.00 | $ | 1.92 | ||||||
Diluted earnings per share | $ | 1.22 | $ | (0.54 | ) | $ | 3.97 | $ | 1.91 | ||||||
Non-GAAP diluted earnings per share (1) | $ | 1.32 | $ | 1.30 | $ | 4.30 | $ | 3.98 | |||||||
Basic shares outstanding | 146,240 | 145,513 | 145,969 | 145,217 | |||||||||||
Diluted shares outstanding | 146,962 | 145,513 | 147,034 | 146,394 |
(1) See the reconciliation of non-GAAP financial measures in the table at the end of the press release.
Condensed Consolidated Balance Sheets(Unaudited; $ in thousands)
March 31, 2022 | June 30, 2021 | ||||||
ASSETS | |||||||
Current assets: | |||||||
Cash and cash equivalents | $ | 201,769 | $ | 295,278 | |||
Accounts receivable, net | 508,580 | 614,292 | |||||
Inventories | 664,943 | 457,033 | |||||
Prepayments and other current assets | 329,008 | 208,154 | |||||
Total current assets | $ | 1,704,300 | $ | 1,574,757 | |||
Non-current assets: | |||||||
Property, plant, and equipment, net | $ | 513,250 | $ | 463,490 | |||
Operating lease right-of-use assets | 141,173 | 128,575 | |||||
Goodwill and other intangibles, net | 2,302,301 | 2,320,483 | |||||
Deferred income taxes and other non-current assets | 244,240 | 240,820 | |||||
Total non-current assets | $ | 3,200,964 | $ | 3,153,368 | |||
Total assets | $ | 4,905,264 | $ | 4,728,125 | |||
LIABILITIES AND STOCKHOLDERS’ EQUITY: | |||||||
Current liabilities: | |||||||
Accounts payable | $ | 149,797 | $ | 138,008 | |||
Accrued expenses | 326,276 | 320,599 | |||||
Operating lease liabilities, current | 24,130 | 23,585 | |||||
Deferred revenue | 112,449 | 109,611 | |||||
Income taxes payable | 42,646 | 307,963 | |||||
Short-term debt | 11,967 | 12,000 | |||||
Total current liabilities | $ | 667,265 | $ | 911,766 | |||
Non-current liabilities: | |||||||
Deferred revenue | $ | 94,094 | $ | 91,496 | |||
Deferred income taxes | 10,711 | 11,319 | |||||
Operating lease liabilities, non-current | 127,254 | 114,779 | |||||
Other long-term liabilities | 5,103 | 6,802 | |||||
Long-term debt | 668,735 | 643,351 | |||||
Long-term income taxes payable | 53,298 | 62,933 | |||||
Total non-current liabilities | $ | 959,195 | $ | 930,680 | |||
Total liabilities | $ | 1,626,460 | $ | 1,842,446 | |||
STOCKHOLDERS’ EQUITY: | |||||||
Common stock | $ | 585 | $ | 583 | |||
Additional paid-in capital | 1,645,453 | 1,622,199 | |||||
Retained earnings | 3,480,163 | 3,079,640 | |||||
Treasury stock | (1,623,256 | ) | (1,623,256 | ) | |||
Accumulated other comprehensive income | (224,141 | ) | (193,487 | ) | |||
Total stockholders’ equity | $ | 3,278,804 | $ | 2,885,679 | |||
Total liabilities and stockholders’ equity | $ | 4,905,264 | $ | 4,728,125 |
Condensed Consolidated Statements of Cash Flows(Unaudited; $ in thousands)
Nine months ended | |||||||
March 31, 2022 | March 31, 2021 | ||||||
Cash flows from operating activities: | |||||||
Net income | $ | 584,376 | $ | 279,405 | |||
Adjustment to reconcile net income to cash provided by operating activities: | |||||||
Depreciation and amortization | 122,198 | 120,034 | |||||
Amortization of right-of-use assets | 26,636 | 25,805 | |||||
Stock-based compensation costs | 49,265 | 47,032 | |||||
Loss attributable to equity method investments | 5,927 | 9,895 | |||||
(Gain) loss on equity investment | 527 | (9,442 | ) | ||||
Restructuring expenses | — | 8,673 | |||||
Changes in operating assets and liabilities: | |||||||
Accounts receivable, net | 98,158 | (39,899 | ) | ||||
Inventories, net | (209,476 | ) | (48,393 | ) | |||
Prepaid expenses, net deferred income taxes and other current assets | (127,977 | ) | (41,036 | ) | |||
Accounts payable, accrued expenses, income taxes payable and other | (277,973 | ) | 158,119 | ||||
Net cash (used in) / provided by operating activities | $ | 271,661 | $ | 510,193 | |||
Cash flows from investing activities: | |||||||
Purchases of property, plant, and equipment | (106,192 | ) | (74,805 | ) | |||
Patent registration and acquisition costs | (17,449 | ) | (11,149 | ) | |||
Business acquisitions, net of cash acquired | (35,915 | ) | (30,704 | ) | |||
Purchases of investments | (16,614 | ) | (20,038 | ) | |||
Proceeds from sale of investment | 6,802 | — | |||||
(Payments) / proceeds on maturity of foreign currency contracts | (5,309 | ) | 26,306 | ||||
Net cash used in investing activities | $ | (174,677 | ) | $ | (110,390 | ) | |
Cash flows from financing activities: | |||||||
Proceeds from issuance of common stock, net | 26,269 | 18,759 | |||||
Taxes paid related to net share settlement of equity awards | (52,278 | ) | (49,938 | ) | |||
Payments of business combination contingent consideration | — | (3,500 | ) | ||||
Proceeds from borrowings, net of borrowing costs | 160,000 | 90,000 | |||||
Repayment of borrowings | (136,000 | ) | (536,000 | ) | |||
Dividends paid | (183,853 | ) | (169,917 | ) | |||
Net cash (used in) / provided by financing activities | $ | (185,862 | ) | $ | (650,596 | ) | |
Effect of exchange rate changes on cash | $ | (4,631 | ) | $ | 18,272 | ||
Net increase / (decrease) in cash and cash equivalents | (93,509 | ) | (232,521 | ) | |||
Cash and cash equivalents at beginning of period | 295,278 | 463,156 | |||||
Cash and cash equivalents at end of period | $ | 201,769 | $ | 230,635 |
Reconciliation of Non-GAAP Financial Measures(Unaudited; $ in thousands, except for per share amounts)
The measures “non-GAAP gross profit” and “non-GAAP gross margin” exclude amortization expense from acquired intangibles related to cost of sales and are reconciled below:
Three Months Ended | Nine Months Ended | ||||||||||||||
March 31, 2022 | March 31, 2021 | March 31, 2022 | March 31, 2021 | ||||||||||||
Revenue | $ | 864,500 | $ | 768,767 | $ | 2,663,390 | $ | 2,320,722 | |||||||
GAAP Cost of sales | $ | 373,303 | $ | 321,509 | $ | 1,161,585 | $ | 972,319 | |||||||
Less: Amortization of acquired intangibles (A) | (10,982 | ) | (10,924 | ) | (33,271 | ) | (34,066 | ) | |||||||
Less: Restructuring—cost of sales (A) | — | — | — | (5,232 | ) | ||||||||||
Non-GAAP cost of sales | $ | 362,321 | $ | 310,585 | $ | 1,128,314 | $ | 933,021 | |||||||
GAAP gross profit | $ | 491,197 | $ | 447,258 | $ | 1,501,805 | $ | 1,348,403 | |||||||
GAAP gross margin | 56.8 | % | 58.2 | % | 56.4 | % | 58.1 | % | |||||||
Non-GAAP gross profit | $ | 502,179 | $ | 458,182 | $ | 1,535,076 | $ | 1,387,701 | |||||||
Non-GAAP gross margin | 58.1 | % | 59.6 | % | 57.6 | % | 59.8 | % |
The measure “non-GAAP income from operations” is reconciled with GAAP income from operations below:
Three Months Ended | Nine Months Ended | ||||||||||
March 31, 2022 | March 31, 2021 | March 31, 2022 | March 31, 2021 | ||||||||
GAAP income from operations | $ | 234,265 | $ | 223,426 | $ | 744,889 | $ | 662,040 | |||
Amortization of acquired intangibles—cost of sales (A) | 10,982 | 10,924 | 33,271 | 34,066 | |||||||
Amortization of acquired intangibles—operating expenses (A) | 7,730 | 7,445 | 23,175 | 23,377 | |||||||
Restructuring—cost of sales (A) | — | — | — | 5,232 | |||||||
Restructuring—operating expenses (A) | — | — | — | 8,673 | |||||||
Non-GAAP income from operations | $ | 252,977 | $ | 241,795 | $ | 801,335 | $ | 733,388 |
Reconciliation of Non-GAAP Financial Measures(Unaudited; $ in thousands, except for per share amounts)
The measures “non-GAAP net income” and “non-GAAP diluted earnings per share” are reconciled with GAAP net income and GAAP diluted earnings per share in the table below:
Three Months Ended | Nine Months Ended | ||||||||||||
March 31, 2022 | March 31, 2021 | March 31, 2022 | March 31, 2021 | ||||||||||
GAAP net income (loss) | $ | 179,012 | $ | (78,481 | ) | $ | 584,376 | $ | 279,405 | ||||
Amortization of acquired intangibles—cost of sales, net of tax(A) | 8,374 | 8,395 | 25,373 | 26,136 | |||||||||
Amortization of acquired intangibles—operating expenses, net of tax(A) | 5,894 | 5,721 | 17,673 | 17,936 | |||||||||
Reserve for disputed tax position(A) | — | 254,776 | 4,111 | 254,776 | |||||||||
Restructuring—cost of sales, net of tax(A) | — | — | — | 4,663 | |||||||||
Restructuring—operating expenses, net of tax(A) | — | — | — | 7,730 | |||||||||
(Gain) loss on equity investments(A) | — | — | — | (8,476 | ) | ||||||||
Non-GAAP net income(A) | $ | 193,280 | $ | 190,411 | $ | 631,533 | $ | 582,170 | |||||
GAAP diluted shares outstanding | 146,962 | 145,513 | 147,034 | 146,394 | |||||||||
Anti-dilutive shares excluded from GAAP | — | 858 | — | — | |||||||||
Non-GAAP diluted shares outstanding | 146,962 | 146,371 | 147,034 | 146,394 | |||||||||
GAAP diluted earnings (loss) per share | $ | 1.22 | $ | (0.54 | ) | $ | 3.97 | $ | 1.91 | ||||
Non-GAAP diluted earnings per share(A) | $ | 1.32 | $ | 1.30 | $ | 4.30 | $ | 3.98 | |||||
(A) ResMed adjusts for the impact of the amortization of acquired intangibles, reserve for disputed tax positions, restructuring expenses and the (gain) loss on equity investments from their evaluation of ongoing operations, and believes that investors benefit from adjusting these items to facilitate a more meaningful evaluation of current operating performance.
ResMed believes that non-GAAP diluted earnings per share is an additional measure of performance that investors can use to compare operating results between reporting periods. ResMed uses non-GAAP information internally in planning, forecasting, and evaluating the results of operations in the current period and in comparing it to past periods. ResMed believes this information provides investors better insight when evaluating ResMed’s performance from core operations and provides consistent financial reporting. The use of non-GAAP measures is intended to supplement, and not to replace, the presentation of net income and other GAAP measures. Like all non-GAAP measures, non-GAAP earnings are subject to inherent limitations because they do not include all the expenses that must be included under GAAP.
Revenue by Product and Region(Unaudited; $ in millions, except for per share amounts)
Three Months Ended | |||||||||||
March 31, 2022 | (A) | March 31, 2021 | (A) | % Change | Constant Currency (B) | ||||||
U.S., Canada, and Latin America | |||||||||||
Devices | $ | 250.8 | $ | 192.9 | 30 | % | |||||
Masks and other | 224.7 | 210.0 | 7 | ||||||||
Total Sleep and Respiratory Care | $ | 475.4 | $ | 402.9 | 18 | ||||||
Software as a Service | 101.1 | 93.8 | 8 | ||||||||
Total | $ | 576.6 | $ | 496.7 | 16 | ||||||
Combined Europe, Asia, and other markets | |||||||||||
Devices | $ | 182.3 | $ | 172.8 | 5 | % | 10 | % | |||
Masks and other | 105.6 | 99.2 | 6 | 13 | |||||||
Total Sleep and Respiratory Care | $ | 287.9 | $ | 272.1 | 6 | 11 | |||||
Global revenue | |||||||||||
Devices | $ | 433.1 | $ | 365.7 | 18 | % | 21 | % | |||
Masks and other | 330.3 | 309.2 | 7 | 9 | |||||||
Total Sleep and Respiratory Care | $ | 763.4 | $ | 674.9 | 13 | 15 | |||||
Software as a Service | 101.1 | 93.8 | 8 | 8 | |||||||
Total | $ | 864.5 | $ | 768.8 | 12 | 14 | |||||
Nine Months Ended | |||||||||||
March 31, 2022 | (A) | March 31, 2021 | (A) | % Change | Constant Currency (B) | ||||||
U.S., Canada, and Latin America | |||||||||||
Devices | $ | 771.5 | $ | 595.3 | 30 | % | |||||
Masks and other | 681.8 | 637.5 | 7 | ||||||||
Total Sleep and Respiratory Care | $ | 1,453.3 | $ | 1,232.8 | 18 | ||||||
Software as a Service | 297.7 | 277.8 | 7 | ||||||||
Total | $ | 1,751.0 | $ | 1,510.6 | 16 | ||||||
Combined Europe, Asia, and other markets | |||||||||||
Devices | $ | 608.3 | $ | 536.9 | 13 | % | 15 | % | |||
Masks and other | 304.2 | 273.3 | 11 | 14 | |||||||
Total Sleep and Respiratory Care | $ | 912.4 | $ | 810.1 | 13 | 15 | |||||
Global revenue | |||||||||||
Devices | $ | 1,379.7 | $ | 1,132.1 | 22 | % | 23 | % | |||
Masks and other | 986.0 | 910.8 | 8 | 9 | |||||||
Total Sleep and Respiratory Care | $ | 2,365.7 | $ | 2,042.9 | 16 | 16 | |||||
Software as a Service | 297.7 | 277.8 | 7 | 7 | |||||||
Total | $ | 2,663.4 | $ | 2,320.7 | 15 | 15 |
(A) Totals and subtotals may not add due to rounding.
(B) In order to provide a framework for assessing how our underlying businesses performed excluding the effect of foreign currency fluctuations, we provide certain financial information on a “constant currency basis,” which is in addition to the actual financial information presented. In order to calculate our constant currency information, we translate the current period financial information using the foreign currency exchange rates that were in effect during the previous comparable period. However, constant currency measures should not be considered in isolation or as an alternative to U.S. dollar measures that reflect current period exchange rates, or to other financial measures calculated and presented in accordance with U.S. GAAP.
For investors | For media |
Amy Wakeham | Jayme Rubenstein |
+1 858-836-5000 | +1 858-836-6798 |
investorrelations@resmed.com | news@resmed.com |
Примечание: Веб-трансляция телефонной конференции ResMed будет доступна сегодня в 16:30 вечера по восточному времени по адресу http://investor .ResMed.com
САН-ДИЕГО, 28 апреля 2022 года (GLOBE NEWSWIRE) -- ResMed Inc. (NYSE: RMD, ASX: RMD) сегодня объявила результаты за квартал, закончившийся 31 марта 2022 года.
Третий квартал 2022 года выделяет все сравнения с периодом предыдущего года
“Наши результаты за третий квартал отражают высокие показатели по всему нашему бизнесу, что привело к двузначному росту выручки, включая чрезвычайный спрос в нашем сегменте услуг по уходу за сном и дыхательными путями, а также устойчивый рост с однозначными цифрами в нашем сегменте программного обеспечения как услуги”, - сказал Мик Фаррелл, ResMed ГЕНЕРАЛЬНЫЙ директор. “Я горжусь способностью нашей глобальной команды развивать и стимулировать дальнейший рост, в то время как продолжающиеся сбои в цепочке поставок и отзыв конкурентов продолжают ограничивать нашу способность удовлетворять невероятный спрос на нашу продукцию. Мы по-прежнему сосредоточены на предоставлении продуктов, программного обеспечения и услуг для пациентов, тесно сотрудничая с нашими партнерами по цепочке поставок, а также с врачами, поставщиками медицинских услуг и другими лицами, чтобы уделять приоритетное внимание уходу за пациентами, которые в нем больше всего нуждаются.
“В то время как текущая отраслевая и макроэкономическая ситуация остаются неопределенными, наша долгосрочная стратегия позволяет нам продолжать фокусироваться на оказании помощи 250 миллионам жизней в 2025 году. Спрос на наш конечный рынок со стороны пациентов и поставщиков услуг остается высоким, а наши цифровые технологии здравоохранения продолжают приносить пользу. Мы поддерживаем пациентов с помощью ведущего в мире портфеля услуг по лечению апноэ во сне, респираторной терапии и необходимых им цифровых медицинских решений, поскольку мы обеспечиваем ценность для всех наших клиентов ”.
Финансовые результаты и операционные показатели неаудированы; в миллионах долларов США, за исключением сумм на акцию
Three Months Ended | |||||||||||||
March 31, 2022 | March 31, 2021 | % Change | Constant Currency (A) | ||||||||||
Revenue | $ | 864.5 | $ | 768.8 | 12 | % | 14 | % | |||||
Gross margin (B) | 56.8 | % | 58.2 | % | (2 | ) | |||||||
Non-GAAP gross margin (B) | 58.1 | % | 59.6 | % | (3 | ) | |||||||
Selling, general, and administrative expenses | 182.4 | 160.4 | 14 | 17 | |||||||||
Research and development expenses | 66.8 | 55.9 | 19 | 22 | |||||||||
Income from operations | 234.3 | 223.4 | 5 | ||||||||||
Non-GAAP income from operations (B) | 253.0 | 241.8 | 5 | ||||||||||
Net income (loss) | 179.0 | (78.5 | ) | NM | |||||||||
Non-GAAP net income (B) | 193.3 | 190.4 | 2 | ||||||||||
Diluted earnings (loss) per share | $ | 1.22 | $ | (0.54 | ) | NM | |||||||
Non-GAAP diluted earnings per share (B) | $ | 1.32 | $ | 1.30 | 2 |
нм Не имеет смысла
Nine Months Ended | |||||||||||||
March 31, 2022 | March 31, 2021 | % Change | Constant Currency (A) | ||||||||||
Revenue | $ | 2,663.4 | $ | 2,320.7 | 15 | % | 15 | % | |||||
Gross margin (B) | 56.4 | % | 58.1 | % | (3 | ) | |||||||
Non-GAAP gross margin (B) | 57.6 | % | 59.8 | % | (4 | ) | |||||||
Selling, general, and administrative expenses | 544.5 | 488.9 | 11 | 13 | |||||||||
Research and development expenses | 189.3 | 165.4 | 14 | 15 | |||||||||
Income from operations | 744.9 | 662.0 | 13 | ||||||||||
Non-GAAP income from operations (B) | 801.3 | 733.4 | 9 | ||||||||||
Net income | 584.4 | 279.4 | 109 | ||||||||||
Non-GAAP net income (B) | 631.5 | 582.2 | 8 | ||||||||||
Diluted earnings per share | $ | 3.97 | $ | 1.91 | 108 | ||||||||
Non-GAAP diluted earnings per share (B) | $ | 4.30 | $ | 3.98 | 8 |
(А) Для того, чтобы обеспечить основу для оценки того, как работали наши основные предприятия, исключая влияние колебаний валютных курсов, мы предоставляем определенную финансовую информацию на основе “постоянной валюты”, которая является дополнением к фактической представленной финансовой информации. Чтобы рассчитать нашу постоянную информацию о валюте, мы переводим финансовую информацию за текущий период, используя курсы обмена иностранной валюты, действовавшие в течение предыдущего сопоставимого периода. Однако показатели в постоянной валюте не следует рассматривать изолированно или в качестве альтернативы показателям в долларах США, которые отражают обменные курсы текущего периода, или другим финансовым показателям, рассчитанным и представленным в соответствии с ОПБУ США.
(B) Смотрите сверку финансовых показателей, не относящихся к GAAP, в таблице в конце пресс-релиза.
Обсуждение результатов третьего квартала Все сравнения проводятся с периодом предыдущего года, если не указано иное
Другие деловые и операционные моменты
Дивидендная программа Совет директоров ResMed сегодня объявил о выплате ежеквартальных денежных дивидендов в размере 0,42 доллара на акцию. Дата выплаты дивидендов будет установлена 12 мая 2022 года, а выплата состоится 16 июня 2022 года. Дивиденды будут выплачены в валюте США держателям обыкновенных акций ResMed, торгуемых на Нью-Йоркской фондовой бирже. Держатели депозитарных акций CHESS (“CDIS”), торгуемых на Австралийской бирже ценных бумаг, получат эквивалентную сумму в австралийской валюте, основанную на обменном курсе на дату регистрации и отражающую соотношение 10:1 между CDIS и акциями NYSE. Датой выплаты дивидендов будет 11 мая 2022 года для владельцев обыкновенных акций и держателей CDI. ResMed получил отказ от правил ведения расчетов ASX, которые позволят ResMed отложить обработку конверсий между своими реестрами обыкновенных акций и CDI с 11 мая 2022 года по 12 мая 2022 года включительно.
Подробности веб-трансляции Компания ResMed обсудит свои результаты за третий квартал 2022 финансового года в своей веб-трансляции сегодня в 13:30 по Тихоокеанскому времени США. Прямая трансляция звонка доступна на веб-сайте ResMed по связям с инвесторами по адресу investor.ResMed.com . Пожалуйста, перейдите в этот раздел веб-сайта и нажмите на значок “Веб-трансляция доходов за 3 квартал 2022 года”, чтобы зарегистрироваться и прослушать прямую трансляцию. Повтор веб-трансляции о доходах будет доступен на веб-сайте и доступен примерно через два часа после прямой трансляции. Кроме того, повтор телефонной конференции будет доступен примерно через два часа после веб-трансляции, набрав +1 877-660-6853 (США) или +1 201-612-7415 (за пределами США) и введя пароль 13727876. Повтор по телефону будет доступен до 12 мая 2022 года.
О компании ResMedAt ResMed (NYSE: RMD, ASX: RMD) мы являемся пионерами инновационных решений, которые лечат людей и не допускают их в больницы, позволяя им жить более здоровой и качественной жизнью. Наши цифровые технологии здравоохранения и медицинские устройства, подключенные к облаку, преобразуют уход за людьми с апноэ во сне, ХОБЛ и другими хроническими заболеваниями. Наши комплексные внебольничные программные платформы поддерживают специалистов и лиц, осуществляющих уход, которые помогают людям оставаться здоровыми на дому или в медицинских учреждениях по их выбору. Предоставляя более качественную медицинскую помощь, мы улучшаем качество жизни, уменьшаем воздействие хронических заболеваний и снижаем затраты для потребителей и систем здравоохранения в более чем 140 странах. Чтобы узнать больше, посетите ResMed.com и следуйте @ResMed.
Заявления Safe harbor Заявления, содержащиеся в этом выпуске, которые не являются историческими фактами, являются “прогнозными” заявлениями, предусмотренными Законом о реформе судебных разбирательств по частным ценным бумагам 1995 года. Эти прогнозные заявления, включая заявления, касающиеся прогнозов ResMed относительно будущих доходов или доходов, расходов, разработки новых продуктов, запуска новых продуктов, новых рынков для своих продуктов, интеграции приобретений, судебных разбирательств и налоговых перспектив, подвержены рискам и неопределенностям, которые могут привести к существенным отличиям фактических результатов от тех, которые прогнозируются или подразумеваются в прогнозных заявлениях. Дополнительные риски и неопределенности обсуждаются в периодических отчетах ResMed, представленных в Комиссию по ценным бумагам и биржам США. ResMed не обязуется обновлять свои прогнозные заявления.
Сокращенный консолидированный отчет о прибылях и убытках (неаудированный; в тысячах долларов США, за исключением сумм на акцию)
Three Months Ended | Nine Months Ended | ||||||||||||||
March 31, 2022 | March 31, 2021 | March 31, 2022 | March 31, 2021 | ||||||||||||
Net revenue | $ | 864,500 | $ | 768,767 | $ | 2,663,390 | $ | 2,320,722 | |||||||
Cost of sales | 362,321 | 310,585 | 1,128,314 | 933,021 | |||||||||||
Amortization of acquired intangibles (1) | 10,982 | 10,924 | 33,271 | 34,066 | |||||||||||
Restructuring—cost of sales (1) | — | — | — | 5,232 | |||||||||||
Total cost of sales | $ | 373,303 | $ | 321,509 | $ | 1,161,585 | $ | 972,319 | |||||||
Gross profit | $ | 491,197 | $ | 447,258 | $ | 1,501,805 | $ | 1,348,403 | |||||||
Selling, general, and administrative | 182,401 | 160,446 | 544,483 | 488,904 | |||||||||||
Research and development | 66,801 | 55,941 | 189,258 | 165,409 | |||||||||||
Amortization of acquired intangibles (1) | 7,730 | 7,445 | 23,175 | 23,377 | |||||||||||
Restructuring—operating expenses (1) | — | — | — | 8,673 | |||||||||||
Total operating expenses | $ | 256,932 | $ | 223,832 | $ | 756,916 | $ | 686,363 | |||||||
Income from operations | 234,265 | 223,426 | 744,889 | 662,040 | |||||||||||
Other income (expenses), net: | |||||||||||||||
Interest income (expense), net | $ | (5,462 | ) | $ | (5,823 | ) | $ | (16,770 | ) | $ | (18,341 | ) | |||
Loss attributable to equity method investments | (2,627 | ) | (4,969 | ) | (5,927 | ) | (9,895 | ) | |||||||
Gain (loss) on equity investments | (1,735 | ) | 4,666 | (527 | ) | 9,442 | |||||||||
Other, net | 1,878 | 705 | 729 | 1,205 | |||||||||||
Total other income (expenses), net | (7,946 | ) | (5,421 | ) | (22,495 | ) | (17,589 | ) | |||||||
Income before income taxes | $ | 226,319 | $ | 218,005 | $ | 722,394 | $ | 644,451 | |||||||
Income taxes | 47,307 | 296,486 | 138,018 | 365,046 | |||||||||||
Net income (loss) | $ | 179,012 | $ | (78,481 | ) | $ | 584,376 | $ | 279,405 | ||||||
Basic earnings per share | $ | 1.22 | $ | (0.54 | ) | $ | 4.00 | $ | 1.92 | ||||||
Diluted earnings per share | $ | 1.22 | $ | (0.54 | ) | $ | 3.97 | $ | 1.91 | ||||||
Non-GAAP diluted earnings per share (1) | $ | 1.32 | $ | 1.30 | $ | 4.30 | $ | 3.98 | |||||||
Basic shares outstanding | 146,240 | 145,513 | 145,969 | 145,217 | |||||||||||
Diluted shares outstanding | 146,962 | 145,513 | 147,034 | 146,394 |
(1) Смотрите сверку финансовых показателей, не относящихся к GAAP, в таблице в конце пресс-релиза.
Сокращенные консолидированные балансовые отчеты (неаудированные; в тысячах долларов США)
March 31, 2022 | June 30, 2021 | ||||||
ASSETS | |||||||
Current assets: | |||||||
Cash and cash equivalents | $ | 201,769 | $ | 295,278 | |||
Accounts receivable, net | 508,580 | 614,292 | |||||
Inventories | 664,943 | 457,033 | |||||
Prepayments and other current assets | 329,008 | 208,154 | |||||
Total current assets | $ | 1,704,300 | $ | 1,574,757 | |||
Non-current assets: | |||||||
Property, plant, and equipment, net | $ | 513,250 | $ | 463,490 | |||
Operating lease right-of-use assets | 141,173 | 128,575 | |||||
Goodwill and other intangibles, net | 2,302,301 | 2,320,483 | |||||
Deferred income taxes and other non-current assets | 244,240 | 240,820 | |||||
Total non-current assets | $ | 3,200,964 | $ | 3,153,368 | |||
Total assets | $ | 4,905,264 | $ | 4,728,125 | |||
LIABILITIES AND STOCKHOLDERS’ EQUITY: | |||||||
Current liabilities: | |||||||
Accounts payable | $ | 149,797 | $ | 138,008 | |||
Accrued expenses | 326,276 | 320,599 | |||||
Operating lease liabilities, current | 24,130 | 23,585 | |||||
Deferred revenue | 112,449 | 109,611 | |||||
Income taxes payable | 42,646 | 307,963 | |||||
Short-term debt | 11,967 | 12,000 | |||||
Total current liabilities | $ | 667,265 | $ | 911,766 | |||
Non-current liabilities: | |||||||
Deferred revenue | $ | 94,094 | $ | 91,496 | |||
Deferred income taxes | 10,711 | 11,319 | |||||
Operating lease liabilities, non-current | 127,254 | 114,779 | |||||
Other long-term liabilities | 5,103 | 6,802 | |||||
Long-term debt | 668,735 | 643,351 | |||||
Long-term income taxes payable | 53,298 | 62,933 | |||||
Total non-current liabilities | $ | 959,195 | $ | 930,680 | |||
Total liabilities | $ | 1,626,460 | $ | 1,842,446 | |||
STOCKHOLDERS’ EQUITY: | |||||||
Common stock | $ | 585 | $ | 583 | |||
Additional paid-in capital | 1,645,453 | 1,622,199 | |||||
Retained earnings | 3,480,163 | 3,079,640 | |||||
Treasury stock | (1,623,256 | ) | (1,623,256 | ) | |||
Accumulated other comprehensive income | (224,141 | ) | (193,487 | ) | |||
Total stockholders’ equity | $ | 3,278,804 | $ | 2,885,679 | |||
Total liabilities and stockholders’ equity | $ | 4,905,264 | $ | 4,728,125 |
Сокращенный консолидированный отчет о движении денежных средств (неаудированный; в тысячах долларов США)
Nine months ended | |||||||
March 31, 2022 | March 31, 2021 | ||||||
Cash flows from operating activities: | |||||||
Net income | $ | 584,376 | $ | 279,405 | |||
Adjustment to reconcile net income to cash provided by operating activities: | |||||||
Depreciation and amortization | 122,198 | 120,034 | |||||
Amortization of right-of-use assets | 26,636 | 25,805 | |||||
Stock-based compensation costs | 49,265 | 47,032 | |||||
Loss attributable to equity method investments | 5,927 | 9,895 | |||||
(Gain) loss on equity investment | 527 | (9,442 | ) | ||||
Restructuring expenses | — | 8,673 | |||||
Changes in operating assets and liabilities: | |||||||
Accounts receivable, net | 98,158 | (39,899 | ) | ||||
Inventories, net | (209,476 | ) | (48,393 | ) | |||
Prepaid expenses, net deferred income taxes and other current assets | (127,977 | ) | (41,036 | ) | |||
Accounts payable, accrued expenses, income taxes payable and other | (277,973 | ) | 158,119 | ||||
Net cash (used in) / provided by operating activities | $ | 271,661 | $ | 510,193 | |||
Cash flows from investing activities: | |||||||
Purchases of property, plant, and equipment | (106,192 | ) | (74,805 | ) | |||
Patent registration and acquisition costs | (17,449 | ) | (11,149 | ) | |||
Business acquisitions, net of cash acquired | (35,915 | ) | (30,704 | ) | |||
Purchases of investments | (16,614 | ) | (20,038 | ) | |||
Proceeds from sale of investment | 6,802 | — | |||||
(Payments) / proceeds on maturity of foreign currency contracts | (5,309 | ) | 26,306 | ||||
Net cash used in investing activities | $ | (174,677 | ) | $ | (110,390 | ) | |
Cash flows from financing activities: | |||||||
Proceeds from issuance of common stock, net | 26,269 | 18,759 | |||||
Taxes paid related to net share settlement of equity awards | (52,278 | ) | (49,938 | ) | |||
Payments of business combination contingent consideration | — | (3,500 | ) | ||||
Proceeds from borrowings, net of borrowing costs | 160,000 | 90,000 | |||||
Repayment of borrowings | (136,000 | ) | (536,000 | ) | |||
Dividends paid | (183,853 | ) | (169,917 | ) | |||
Net cash (used in) / provided by financing activities | $ | (185,862 | ) | $ | (650,596 | ) | |
Effect of exchange rate changes on cash | $ | (4,631 | ) | $ | 18,272 | ||
Net increase / (decrease) in cash and cash equivalents | (93,509 | ) | (232,521 | ) | |||
Cash and cash equivalents at beginning of period | 295,278 | 463,156 | |||||
Cash and cash equivalents at end of period | $ | 201,769 | $ | 230,635 |
Сверка финансовых показателей, не относящихся к GAAP (неаудировано; в тысячах долларов США, за исключением сумм на акцию)
Показатели “валовая прибыль без учета ОПБУ” и “валовая прибыль без учета ОПБУ” исключают расходы на амортизацию приобретенных нематериальных активов, относящиеся к себестоимости продаж, и сверяются ниже:
Three Months Ended | Nine Months Ended | ||||||||||||||
March 31, 2022 | March 31, 2021 | March 31, 2022 | March 31, 2021 | ||||||||||||
Revenue | $ | 864,500 | $ | 768,767 | $ | 2,663,390 | $ | 2,320,722 | |||||||
GAAP Cost of sales | $ | 373,303 | $ | 321,509 | $ | 1,161,585 | $ | 972,319 | |||||||
Less: Amortization of acquired intangibles (A) | (10,982 | ) | (10,924 | ) | (33,271 | ) | (34,066 | ) | |||||||
Less: Restructuring—cost of sales (A) | — | — | — | (5,232 | ) | ||||||||||
Non-GAAP cost of sales | $ | 362,321 | $ | 310,585 | $ | 1,128,314 | $ | 933,021 | |||||||
GAAP gross profit | $ | 491,197 | $ | 447,258 | $ | 1,501,805 | $ | 1,348,403 | |||||||
GAAP gross margin | 56.8 | % | 58.2 | % | 56.4 | % | 58.1 | % | |||||||
Non-GAAP gross profit | $ | 502,179 | $ | 458,182 | $ | 1,535,076 | $ | 1,387,701 | |||||||
Non-GAAP gross margin | 58.1 | % | 59.6 | % | 57.6 | % | 59.8 | % |
Показатель “доход от операций, не относящихся к ОПБУ”, сверяется с доходом от операций по ОПБУ, приведенным ниже:
Three Months Ended | Nine Months Ended | ||||||||||
March 31, 2022 | March 31, 2021 | March 31, 2022 | March 31, 2021 | ||||||||
GAAP income from operations | $ | 234,265 | $ | 223,426 | $ | 744,889 | $ | 662,040 | |||
Amortization of acquired intangibles—cost of sales (A) | 10,982 | 10,924 | 33,271 | 34,066 | |||||||
Amortization of acquired intangibles—operating expenses (A) | 7,730 | 7,445 | 23,175 | 23,377 | |||||||
Restructuring—cost of sales (A) | — | — | — | 5,232 | |||||||
Restructuring—operating expenses (A) | — | — | — | 8,673 | |||||||
Non-GAAP income from operations | $ | 252,977 | $ | 241,795 | $ | 801,335 | $ | 733,388 |
Сверка финансовых показателей, не относящихся к GAAP (неаудировано; в тысячах долларов США, за исключением сумм на акцию)
Показатели “чистая прибыль, не соответствующая ОПБУ” и “разводненная прибыль на акцию, не соответствующая ОПБУ” сверены с чистой прибылью по ОПБУ и разводненной прибылью на акцию по ОПБУ в таблице ниже:
Three Months Ended | Nine Months Ended | ||||||||||||
March 31, 2022 | March 31, 2021 | March 31, 2022 | March 31, 2021 | ||||||||||
GAAP net income (loss) | $ | 179,012 | $ | (78,481 | ) | $ | 584,376 | $ | 279,405 | ||||
Amortization of acquired intangibles—cost of sales, net of tax(A) | 8,374 | 8,395 | 25,373 | 26,136 | |||||||||
Amortization of acquired intangibles—operating expenses, net of tax(A) | 5,894 | 5,721 | 17,673 | 17,936 | |||||||||
Reserve for disputed tax position(A) | — | 254,776 | 4,111 | 254,776 | |||||||||
Restructuring—cost of sales, net of tax(A) | — | — | — | 4,663 | |||||||||
Restructuring—operating expenses, net of tax(A) | — | — | — | 7,730 | |||||||||
(Gain) loss on equity investments(A) | — | — | — | (8,476 | ) | ||||||||
Non-GAAP net income(A) | $ | 193,280 | $ | 190,411 | $ | 631,533 | $ | 582,170 | |||||
GAAP diluted shares outstanding | 146,962 | 145,513 | 147,034 | 146,394 | |||||||||
Anti-dilutive shares excluded from GAAP | — | 858 | — | — | |||||||||
Non-GAAP diluted shares outstanding | 146,962 | 146,371 | 147,034 | 146,394 | |||||||||
GAAP diluted earnings (loss) per share | $ | 1.22 | $ | (0.54 | ) | $ | 3.97 | $ | 1.91 | ||||
Non-GAAP diluted earnings per share(A) | $ | 1.32 | $ | 1.30 | $ | 4.30 | $ | 3.98 | |||||
(A) ResMed корректирует влияние амортизации приобретенных нематериальных активов, резерва на покрытие спорных налоговых позиций, расходов на реструктуризацию и (прибыли) убытка по инвестициям в акционерный капитал на основе их оценки текущей деятельности, и считает, что инвесторы выиграют от корректировки этих статей, чтобы облегчить более значимую оценку текущих операционных показателей.
ResMed считает, что разводненная прибыль на акцию без учета GAAP является дополнительным показателем эффективности, который инвесторы могут использовать для сравнения операционных результатов между отчетными периодами. ResMed использует информацию, не относящуюся к GAAP, внутри компании при планировании, прогнозировании и оценке результатов операций в текущем периоде и при сравнении их с прошлыми периодами. ResMed считает, что эта информация дает инвесторам лучшее представление при оценке результатов основной деятельности ResMed и обеспечивает согласованную финансовую отчетность. Использование показателей, не относящихся к GAAP, предназначено для дополнения, а не для замены представления чистой прибыли и других показателей GAAP. Как и все показатели, не относящиеся к GAAP, доходы, не относящиеся к GAAP, подвержены неотъемлемым ограничениям, поскольку они не включают все расходы, которые должны быть включены в соответствии с GAAP.
Выручка по продуктам и регионам (неаудированная; в миллионах долларов США, за исключением сумм на акцию)
Three Months Ended | |||||||||||
March 31, 2022 | (A) | March 31, 2021 | (A) | % Change | Constant Currency (B) | ||||||
U.S., Canada, and Latin America | |||||||||||
Devices | $ | 250.8 | $ | 192.9 | 30 | % | |||||
Masks and other | 224.7 | 210.0 | 7 | ||||||||
Total Sleep and Respiratory Care | $ | 475.4 | $ | 402.9 | 18 | ||||||
Software as a Service | 101.1 | 93.8 | 8 | ||||||||
Total | $ | 576.6 | $ | 496.7 | 16 | ||||||
Combined Europe, Asia, and other markets | |||||||||||
Devices | $ | 182.3 | $ | 172.8 | 5 | % | 10 | % | |||
Masks and other | 105.6 | 99.2 | 6 | 13 | |||||||
Total Sleep and Respiratory Care | $ | 287.9 | $ | 272.1 | 6 | 11 | |||||
Global revenue | |||||||||||
Devices | $ | 433.1 | $ | 365.7 | 18 | % | 21 | % | |||
Masks and other | 330.3 | 309.2 | 7 | 9 | |||||||
Total Sleep and Respiratory Care | $ | 763.4 | $ | 674.9 | 13 | 15 | |||||
Software as a Service | 101.1 | 93.8 | 8 | 8 | |||||||
Total | $ | 864.5 | $ | 768.8 | 12 | 14 | |||||
Nine Months Ended | |||||||||||
March 31, 2022 | (A) | March 31, 2021 | (A) | % Change | Constant Currency (B) | ||||||
U.S., Canada, and Latin America | |||||||||||
Devices | $ | 771.5 | $ | 595.3 | 30 | % | |||||
Masks and other | 681.8 | 637.5 | 7 | ||||||||
Total Sleep and Respiratory Care | $ | 1,453.3 | $ | 1,232.8 | 18 | ||||||
Software as a Service | 297.7 | 277.8 | 7 | ||||||||
Total | $ | 1,751.0 | $ | 1,510.6 | 16 | ||||||
Combined Europe, Asia, and other markets | |||||||||||
Devices | $ | 608.3 | $ | 536.9 | 13 | % | 15 | % | |||
Masks and other | 304.2 | 273.3 | 11 | 14 | |||||||
Total Sleep and Respiratory Care | $ | 912.4 | $ | 810.1 | 13 | 15 | |||||
Global revenue | |||||||||||
Devices | $ | 1,379.7 | $ | 1,132.1 | 22 | % | 23 | % | |||
Masks and other | 986.0 | 910.8 | 8 | 9 | |||||||
Total Sleep and Respiratory Care | $ | 2,365.7 | $ | 2,042.9 | 16 | 16 | |||||
Software as a Service | 297.7 | 277.8 | 7 | 7 | |||||||
Total | $ | 2,663.4 | $ | 2,320.7 | 15 | 15 |
(А) Итоговые и промежуточные итоги могут не суммироваться из-за округления.
(B) Для того, чтобы обеспечить основу для оценки того, как работали наши основные предприятия, исключая влияние колебаний валютных курсов, мы предоставляем определенную финансовую информацию на “постоянной валютной основе”, которая является дополнением к фактической представленной финансовой информации. Чтобы рассчитать нашу постоянную информацию о валюте, мы переводим финансовую информацию за текущий период, используя курсы обмена иностранной валюты, действовавшие в течение предыдущего сопоставимого периода. Однако показатели в постоянной валюте не следует рассматривать изолированно или в качестве альтернативы показателям в долларах США, которые отражают обменные курсы текущего периода, или другим финансовым показателям, рассчитанным и представленным в соответствии с ОПБУ США.
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