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ResMed: Fiscal 3Q Earnings Snapshot

SAN DIEGO (AP) _ ResMed Inc. (RMD) on Thursday reported fiscal third-quarter net income of $105.4 million.

The San Diego-based company said it had net income of 73 cents per share. Earnings, adjusted for amortization costs and pretax expenses, came to 89 cents per share.

The results exceeded Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was for earnings of 84 cents per share.

The maker of medical products for respiratory disorders posted revenue of $662.2 million in the period, which did not meet Street forecasts. Four analysts surveyed by Zacks expected $663.5 million.

ResMed shares have dropped 7% since the beginning of the year. In the final minutes of trading on Thursday, shares hit $105.62, an increase of 10% in the last 12 months.

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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on RMD at https://www.zacks.com/ap/RMD