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(Reuters) - Medical device maker ResMed reported weaker first-quarter margins on Thursday as steep costs overshadowed a 16% rise in sales, sending its shares down more than 5% in extended trading.
ResMed makes continuous-positive-airway-pressure machines (CPAP) to treat sleep apnea, a condition where the airway gets repeatedly blocked while sleeping.
Its gross margin decreased to 54.4% from 56.9% a year earlier, pressured by higher component and manufacturing costs, among other factors.
Reven...
>>> Read more: ResMed's higher costs dull quarterly sales rise, shares fall
ResMed makes continuous-positive-airway-pressure machines (CPAP) to treat sleep apnea, a condition where the airway gets repeatedly blocked while sleeping.
Its gross margin decreased to 54.4% from 56.9% a year earlier, pressured by higher component and manufacturing costs, among other factors.
Reven...
>>> Read more: ResMed's higher costs dull quarterly sales rise, shares fall
