AUCKLAND, New Zealand – Fisher & Paykel reported total operating revenue of $1.68 billion for the 2022 fiscal year ended March 31, 2022, down 15% from the prior year or 14 % in constant currency.
Net income after tax was $376.9 million, down 28% or 30% in constant currency.
“Over the past two fiscal years, we’ve delivered $880 million in hospital equipment, equivalent to approximately 10 years of equipment sales before COVID-19,” said Lewis Gradon, Managing Director and CEO. “The growing body of evidence supporting the use of nasal high flow and our other respiratory therapies shows that our products have a clear role to play in improving care and outcomes beyond patients with COVID-19. We have a proven track record of 50 years in changing clinical practice and now have the added benefit of customers who already have our equipment and clinical experience with its use.
In the Homecare product group, which includes products used in the treatment of obstructive sleep apnea and home respiratory support, revenue was $469.5 million, an increase of 1 % over the prior year or 2% in constant currency. OSA mask revenue increased 6% in the second half of FY22 on a constant currency basis in an environment of suppressed new OSA patient diagnoses due to COVID-19 and limited supply of treatment equipment.
Looking ahead, the Homecare product group saw the May launch of the Evora Full mask in the US.
“The Evora Full was one of the most positive new mask launches we’ve ever seen, based on customer feedback and initial sales performance to date in regions where it’s available,” said Gradon said. “The rates of new OSA patient diagnoses and the availability of treatment equipment are also likely to impact our Homecare product group’s results in fiscal 2023.”