SAN DIEGO (AP) _ ResMed Inc. (RMD) on Thursday reported fiscal first-quarter net income of $120.1 million.
On a per-share basis, the San Diego-based company said it had profit of 83 cents. Earnings, adjusted for amortization costs and non-recurring costs, were 93 cents per share.
The results topped Wall Street expectations. The average estimate of five analysts surveyed by Zacks Investment Research was for earnings of 87 cents per share.
The maker of medical products for respiratory disorders posted revenue of $681.1 million in the period, also surpassing Street forecasts. Three analysts surveyed by Zacks expected $657.2 million.
ResMed shares have risen 12% since the beginning of the year. In the final minutes of trading on Thursday, shares hit $127.76, a climb of 30% in the last 12 months.