Strong Sales Momentum Maintained as Operating Leverage Boosts the Bottom Line; Raising Resmed's FVE
Strong sales momentum from first-quarter fiscal 2018 continued, with narrow-moat ResMed reporting another excellent quarter, ahead of our expectations and across all product categories. Net profit after tax, adjusted for one-off items related to changes in the U.S. tax reform, was USD 143.8 million on group revenue of USD 601.3 million, up 39% and 13%, respectively. The result reflected the continuing adoption of the AirSense 10 device platform, launched in 2015, complemented by subsequent launc...ResMed is a holding company. Through its operating subsidiaries, the company is engaged in the development, manufacturing, distribution and marketing of medical devices and cloud-based software solutions that diagnose, treat and manage respiratory disorders including sleep disordered breathing, chronic obstructive pulmonary disease, neuromuscular disease and other chronic diseases. The company has two operating segments: Sleep and Respiratory Care and Software-as-a-Solutions. The company's portfolio of products includes devices, diagnostic products, mask systems, headgear and other accessories, dental devices, portable oxygen concentrators and cloud-based software informatics solutions.
Morningstar, Inc. is a leading provider of independent investment research in North America, Europe, Australia, and Asia. The company offer an extensive line of products and services for individual investors, financial advisors, asset managers, and retirement plan providers and sponsors.
Morningstar provides data on approximately 530,000 investment offerings, including stocks, mutual funds, and similar vehicles, along with real-time global market data on more than 18 million equities, indexes, futures, options, commodities, and precious metals, in addition to foreign exchange and Treasury markets. Morningstar also offers investment management services through its investment advisory subsidiaries and had approximately $185 billion in assets under advisement and management as of June 30, 2016.
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