ResMed shares have hit a record high after the respiratory device maker’s quarterly sales revenue jumped 13 per cent to $US601 million ($US750 million).
Chief executive Mick Farrell said sales in the final three months of 2017 were boosted by demand for the company’s new range of sleep apnoea masks, while device sales were also doing well.
Revenue in the Americas, excluding software business Brightree, was up 12 per cent from a year earlier at $US329 million, while Brightree was up 14 per cent at $US39 million.
ResMed reported revenue in Europe, Asia and other markets of $US233 million, an increase of eight per cent, on a constant currency basis.
“Our masks have performed well around the world, device sales are solid, and our cloud-based software continues to grow rapidly,” Mr Farrell said in a statement.
He said innovation was driving the company’s success, with a recently announced portable oxygen concentrator which will be launched in the third quarter of the financial year.
The dual-listed company’s ASX-traded shares gained 8.4 per cent to $11.97, their highest ever value.