I agree CMP has a lot to do before becoming ResMed, possibly...

I agree CMP has a lot to do before becoming ResMed, possibly another 15 years!
One of the things, I am curious is that CMP seems to be strong in its core product technology, such as Doppler Ultrasound, Brain and Sleep Diagnostics, but its profit margin is very low, 3%, especially for a high-end medical equipment firms.

A break down of 2014 revenue and expense:
Its revenue from sale of goods was about $ 30.841 millions
Its other income from non-core business is 0.9 millions (not related to main business)

Its expense totals about $30.833 millions. The cost of goods accounts for 47%, sales and marketing accounts for 19%, R&D accounts for 18%, administration accounts for 15% and finance cost accounts for 2%.

1. Depreciation of AUD is likely to reduce cost of R&D (done mostly in Australia, some in Germany)
2. Cost of goods is likely to be reduced, due to off-shoring manufacturing business, which is still too expensive to be carried out in Australia, given the high level of wages, electricity, regulation costs.

I think if cost of R&D to about 15% (after denomination in USD ) and the cost of goods to about 30%, the profit margin will likely increase by about 10 to 15%.

I am looking forward to see how much the cost of goods in relations to its total expense can be reduced.