ubs australasian healthcare conference october 2004 2 investment highlights leading player in heated humidification devices and consumables for a variety of respiratory related markets consistent growth strategy estimated us 1 5 billion market opportunity high level innovation global presence competitive nz cost base strong financial performance experienced management team nzx fph asx 3 operating results fy04 12 mths revenue m pcp 100 132 28 gross profit 70 9 93 6 34 sg&a 27 36 4 33 r&d 8 7 52 total expenses 45 0 48 products obstructive sleep apnea neonatal other consumable represent approx 50 core product sales osa 37 11 rh by months 31 march normal airway is bypassed or compromised during ventilation o therapy mucociliary transport system operates less effectively increases risk infection impairs gas exchange need to deliver at physiologically levels c body temperature 44mg l saturated 350 million worldwide humidifier controllers chambers
