Shares in ResMed Inc have remained relatively steady during Friday’s market slump, after the sleep disorder company posted a 19.4 pct annual profit rise.

ResMed Inc has increased full year net profit by 19.41 per cent, as the sleep-disorder breathing products supplier examines “significant opportunities” to expand its share of the market.

Resmed’s net income (profit) rose to $US226.986 million for the 12 months to June 30, up from US $190.085 million a year earlier, the US-based company said in a statement.

At 1103 AEST, shares in Resmed were three cents lower, or 1.1 per cent, at $2.69, while the All Ordinaries Index was down four per cent.

Resmed chief executive officer Peter Farrell said the company had a strong quarter and year, with the fourth quarter of fiscal 2011 continuing to show strong year-on-year growth.

“We have been active in the last few months with small technology-focused acquisitions and partnerships that will further our strategy to reach deeper into the vastly underpenetrated market for sleep-disordered breathing, as well as serve existing patients,” Dr Farrell said in a statement.

“Due to the strong correlation between sleep-disordered breathing and comorbidities, such as heart disease and diabetes, chronic obstructive pulmonary disease, peri-operative death and occupational health and safety, we believe that there are significant opportunities to further penetrate the market.”

The company said a recently-announced partnership with CareFusion allowed it to establish a presence in the US institutional healthcare market.

The acquisition of Gründler would expand that footprint even further by adding high-quality humidification technology and products, it said.

“These recent acquisitions and partnership provide us with more options to achieve that goal,” Dr Farrell said.

Resmed’s revenue increased to $US1.243 billion, up 13.7 per cent, from $US1.09 billion.

Earnings per share were $US1.49, up from $US1.26 a year earlier.