v3.23.4
Condensed Consolidated Statements of Operations (Unaudited) - USD ($)
shares in Thousands, $ in Thousands
3 Months Ended 6 Months Ended
Dec. 31, 2023
Dec. 31, 2022
Dec. 31, 2023
Dec. 31, 2022
Net revenue $ 1,162,801 $ 1,033,744 $ 2,265,122 $ 1,984,038
Cost of sales (exclusive of amortization shown separately below) 507,610 446,724 1,000,964 849,834
Amortization of acquired intangible assets 8,257 7,305 17,164 13,680
Total cost of sales 515,867 454,029 1,018,128 863,514
Gross profit 646,934 579,715 1,246,994 1,120,524
Operating Expenses        
Selling, general, and administrative 222,155 211,672 445,029 404,860
Research and development 73,880 69,874 149,590 133,062
Amortization of acquired intangible assets 11,577 9,563 24,056 17,513
Restructuring expenses (note 11) 64,228 0 64,228 0
Acquisition related expenses 0 8,412 0 9,157
Total operating expenses 371,840 299,521 682,903 564,592
Income from operations 275,094 280,194 564,091 555,932
Other income (loss), net:        
Interest (expense) income, net (13,805) (10,338) (28,762) (17,472)
Gain (loss) attributable to equity method investments (note 5) 739 (2,826) (3,156) (4,853)
Gain (loss) on equity investments (note 5) (1,888) 8,368 (2,491) 5,088
Other, net (686) (1,707) 1,963 (3,211)
Total other income (loss), net (15,640) (6,503) (32,446) (20,448)
Income before income taxes 259,454 273,691 531,645 535,484
Income taxes 50,654 48,777 103,423 100,092
Net income $ 208,800 $ 224,914 $ 428,222 $ 435,392
Basic earnings per share (in dollars per share) $ 1.42 $ 1.53 $ 2.91 $ 2.97
Diluted earnings per share (in dollars per share) 1.42 1.53 2.90 2.95
Dividend declared per share (in dollars per share) $ 0.48 $ 0.44 $ 0.96 $ 0.88
Basic shares outstanding (000's) (in shares) 147,132 146,704 147,104 146,568
Diluted shares outstanding (000's) (in shares) 147,545 147,405 147,572 147,367
Total Sleep and Respiratory Care        
Net revenue $ 1,017,855 $ 916,981 $ 1,980,892 $ 1,761,424
Cost of sales (exclusive of amortization shown separately below) 460,721 406,303 905,182 770,146
Amortization of acquired intangible assets 1,324 1,343 3,240 2,572
Software as a Service        
Net revenue 144,946 116,763 284,230 222,614
Cost of sales (exclusive of amortization shown separately below) 46,889 40,421 95,782 79,688
Amortization of acquired intangible assets $ 6,933 $ 5,962 $ 13,924 $ 11,108

Source