SAN DIEGO (AP) _ ResMed Inc. (RMD) on Thursday reported fiscal fourth-quarter net income of $68.8 million.
The San Diego-based company said it had net income of 48 cents per share. Earnings, adjusted for non-recurring costs, were 95 cents per share.
The results surpassed Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was for earnings of 92 cents per share.
The maker of medical products for respiratory disorders posted revenue of $705 million in the period, also exceeding Street forecasts. Three analysts surveyed by Zacks expected $701.7 million.
For the year, the company reported profit of $404.6 million, or $2.80 per share. Revenue was reported as $2.61 billion.
ResMed shares have risen almost 9% since the beginning of the year. In the final minutes of trading on Thursday, shares hit $123.92, an increase of 13% in the last 12 months.