PRESS RELEASE

Exhibit 99.1

RESMED ANNOUNCES RECORD FINANCIAL RESULTS
FOR QUARTER ENDED SEPTEMBER 30, 2003

SAN DIEGO, California, October 28, 2003...ResMed Inc. (NYSE: RMD) announced
record revenue and income results for the quarter ended September 30, 2003.
Revenue for the quarter was $72.9 million, an increase of 24% over the quarter
ended September 30, 2002. Income from operations and net income for the
September 30, 2003, quarter increased to $19.0 million and $12.2 million
respectively, an increase of 22% and 28%. Earnings per share (on a diluted
basis) for the quarter ended September 30, 2003, was $0.35, an increase of 25%,
compared to the September 2002 quarter. Gross margin was 64.7%, increasing from
62.4% in the June 2003 quarter, and above the September 2002 quarter's margin of
64.3% reflecting improved expense control and product mix.

Selling, general and administration (SG&A) costs for the quarter were $22.2
million, an increase of $4.4 million or 25%, over the same period in fiscal
2002. The increase in SG&A related primarily to an increase in selling and
administration personnel to meet expanding opportunities in the sleepdisordered
breathing market. SG&A expenditure as a percentage of revenue was 30% in the
September quarter, consistent with the same period in fiscal 2002.

Research and development expenditure, at approximately 8% of revenues, increased
during the three months ended September 30, 2003, to $6.0 million from $4.4
million in the quarter ended September 30, 2002. The increase of 37% in R&D
outlays reflects ResMed's continuing commitment to clinical research and product
development, particularly in the evolving cardiovascular area. We expect to
continue to spend approximately 8% of our revenues on R&D during the rest of
this fiscal year.

Inventory, at $56 million, increased compared to June 2003 levels, primarily
reflecting the beginning of an inventory build to buffer stocks before the
Company relocates its Australian manufacturing facility. The move is expected to
occur in the third quarter of this fiscal year. Accounts receivable days sales
outstanding, at 69 days, improved by 3 days, compared to the September 2002
quarter.

Peter C. Farrell, Ph.D., Chairman and Chief Executive Officer, commented, "These
excellent profit and revenue results for the September quarter reflect our
continuing strong sales and profit growth. Operating cash flow for the September
quarter was $12.6 million. This was impressive, particularly in light of our
inventory build. Domestic sales increased by 22% over the September 2002 quarter
to $34.7 million, reflecting continued healthy domestic demand for our
sleep-disordered breathing products. International sales increased by 26% over
the September 2002 quarter to $38.2 million, reflecting growth in all major
markets, in particular Japan, as well as a stronger Euro."

Dr. Farrell also commented, "This quarter also saw the release of our new
AutoSet Respond unit in the United States, as well as -- in most major markets
- -- our new bilevel unit, the VPAPIII, plus our new Ultra Mirage Full Facemask.
We are excited about, not only these new products, but also the release, during
our second fiscal quarter, of our revolutionary Activa nasal interface. Our
recent clinical trials showed that the Activa performs better than any other
mask we have yet produced. Finally, we released our channel management product,
known as Boomerang Web, which is a web-based software solution. Boomerang Web
allows our customers to enhance both patient care and inventory management. We
are excited by all these new product offerings, which continue our track record
of delivering innovative sleep-disordered breathing products to the global
marketplace."

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Dr. Farrell concluded, "During this quarter, as previously reported, we came to
an agreement with Respironics which resolved our long-standing patent disputes.
We are grateful to have this behind us and look forward to putting our resources
to more productive activities. Finally, on the cardiac front, we jointly
presented, with Guidant Corporation, a symposium on sleep-disordered breathing
and heart failure, at the September meeting in Las Vegas of the Heart Failure
Society of America. We were pleased to host some 350 cardiologists, who turned
out to learn more about the connection between cardiovascular disease and
sleep-disordered breathing."

We continue to believe that the market for sleep-disordered breathing products
will continue to grow annually at approximately 20% over the next 12-18 months.
We also believe that our annual revenue growth will meet or exceed this market
growth rate, excluding the impact of any nonrecurring issues, such as the recent
SARS epidemic.

ResMed is a leading developer, manufacturer, and marketer of medical equipment
for the diagnosis, treatment, and management of sleep-disordered breathing,
selling a comprehensive range of products in over 60 countries.

ResMed will host a conference call at 1:30 pm Pacific Standard Time (PST) today
to discuss these quarterly results. Individuals wishing to access the conference
call may do so via ResMed's Web site at www.resmed.com. Please allow extra time
before the call to visit the site and download the streaming media player
(Windows Media Player) required to listen to the Internet broadcast. The online
archive of the broadcast will be available approximately 90 minutes after the
live call and will be available for two weeks. A telephone replay of the
conference call is available by dialing (888) 286-8010 (domestic) and (617) 801
6888 (international) and entering conference ID No. 32226786.

Further information can be obtained by contacting David Pendarvis at ResMed Inc.
San Diego, on (858) 746-2568; Adrian Smith at ResMed Limited Sydney on 61 (2)
9886-5407; or by visiting the Company's multilingual Web site at www.resmed.com.

Statements contained in this release that are not historical facts are
"forward-looking" statements as contemplated by the Private Securities
Litigation Reform Act of 1995. These forward-looking statements, including
statements regarding the Company's future revenue, earnings or expenses, new
product development and new markets for the Company's products, are subject to
risks and uncertainties, which could cause actual results to materially differ
from those projected or implied in the forward-looking statements. Those risks
and uncertainties are discussed in the Company's Annual Report on Form 10-K for
its most recent fiscal year and in other reports the Company files with the US
Securities & Exchange Commission. Those reports are available on the Company's
Web site.

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RESMED INC. AND SUBSIDIARIES
Consolidated Statements of Income (unaudited)
(In US$ thousands, except per share data)

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Three Months Ended
September 30,
2003 2002
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Net revenue $ 72,878 $ 58,586
Cost of sales 25,720 20,889
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Gross profit 47,158 37,697
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Operating expenses:
Selling, general and administrative 22,187 17,791
Research and development 6,017 4,395
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Total operating expenses 28,204 22,186
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Income from operations 18,954 15,511
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Other income (expenses), net:
Interest income (expense), net (394) (883)
Gain on extinguishment of debt -- 338
Other, net (652) (967)
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Total other income (expenses), net (1,046) (1,512)
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Income before income taxes 17,908 13,999
Income taxes 5,659 4,428
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Net income $ 12,249 $ 9,571
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Basic earnings per share $ 0.36 $ 0.29
Diluted earnings per share $ 0.35 $ 0.28

Basic shares outstanding 33,649 32,882
Diluted shares outstanding 35,089 34,121
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RESMED INC. AND SUBSIDIARIES
Consolidated Balance Sheets
(In US$ thousands except share and per share data)

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September 30, June 30,
2003 2003
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ASSETS (unaudited)
Current assets:
Cash and cash equivalents $ 104,677 $ 114,491
Marketable securities - available for sale 27,102 6,533
Accounts receivable, net 55,963 56,694
Inventories 55,973 49,386
Deferred income taxes 9,354 8,301
Prepaid expenses and other current assets 6,632 6,500
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Total current assets 259,701 241,905
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Property, plant and equipment, net
of accumulated depreciation 113,482 104,687
Patents, net of accumulated amortization 3,777 3,745
Goodwill 103,089 102,160
Other assets 6,585 7,098
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Total assets $ 486,634 $ 459,595
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LIABILITIES AND STOCKHOLDERS' EQUITY
Current liabilities:
Accounts payable $ 17,411 $ 19,368
Accrued expenses 20,104 19,140
Income taxes payable 5,698 3,408
Deferred revenue 6,927 6,355
Current portion of deferred profit
on sale and leaseback 2,342 2,312
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Total current liabilities 52,482 50,583
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Non current liabilities:
Deferred revenue 8,105 7,210
Deferred profit on sale and leaseback 1,562 2,119
Convertible subordinated notes 113,250 113,250
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Total non-current liabilities 122,917 122,579
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Total liabilities $ 175,399 $ 173,162
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Stockholders' Equity:

Preferred stock, $0.01 par value,
2,000,000 shares authorized; none issued -- --

Series A Junior Participating preferred
stock, $0.01 par value, 250,000 -- --
shares authorized; none issued

Common Stock $0.004 par value
100,000,000 shares authorized; issued and
outstanding 33,882,293 at September 30, 2003
and 33,370,885 at June 30, 2003 (excluding
425,928 and 415,365 shares held as 136 134
Treasury Stock respectively)

Additional paid-in capital 116,491 107,432
Retained earnings 172,621 160,372
Treasury stock (11,877) (11,415)
Accumulated other comprehensive income (loss) 33,864 29,910
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Total stockholders' equity 311,235 286,433
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Commitments and contingencies -- --
Total liabilities and stockholders' equity $ 486,634 $ 459,595
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