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Jan. 27 (Bloomberg) -- ResMed Inc., the world’s second- biggest maker of machines to regulate breathing for people with sleep disorders, rose the most in more than three years after the company reported record second-quarter income.
The company, based in Poway, California and listed on the Sydney and New York stock exchanges, climbed as much as 10.6 percent in Sydney trade and was up 5.9 percent at A$2.69 at 10:49 a.m. Net income in the quarter ended December rose 8 percent to $62.9 million, ResMed said in a regulatory statement.
“Global mask growth remains exceptionally strong,” Peter C. Farrell, chairman and chief executive officer, said in the statement.
ResMed’s products are used largely to treat sleep apnea, a condition causing shallow breathing during sleep. Revenue for the quarter ended Dec. 31 was $332.7 million, a 9 percent increase, the company said.
--Editors: Malcolm Scott, Edward Johnson
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