LivaNova Reports First Quarter 2020 Results

About this update from Livanova Plc

[{"type":"text","content":" LONDON--(BUSINESS WIRE)--\nLivaNova PLC (NASDAQ:LIVN), a market-leading medical technology and innovation company, today reported results for the quarter ended March 31, 2020.\n\n\nFor the first quarter of 2020, worldwide sales from continuing operations were $242.4 million, a decrease of 3.4 percent on a reported basis and a decline of 1.8 percent on a constant-currency1 basis, as compared to the same quarter of the previous year. On the basis of U.S. Generally Accepted Accounting Principles (GAAP), first quarter 2020 diluted earnings per share from continuing operations were $0.79. First quarter 2020 adjusted diluted earnings per share from continuing operations were $0.33.\n\n\n\"As a healthcare company committed to improving the lives of patients around the world, LivaNova is closely monitoring the COVID-19 situation. Being true to our values, we prioritize patients and their well-being, and we are working tirelessly to ensure they have access to the products and services they require. We commend and support our employees for their efforts and commitment to providing life-changing products and therapies during this difficult time,\" said Damien McDonald, Chief Executive Officer of LivaNova. \"Our business was tracking at or above expectations until mid-March, when the global market started to experience a sharp decline in elective surgeries. Despite the near-term uncertainty created by COVID-19, we are resilient and will remain focused on thoughtful investments, maintaining a strong financial profile and strengthening our balance sheet.\"\n\n\nFirst Quarter 2020 Results\n\n\nThe following table highlights worldwide sales for the first quarter of 2020 by business:\n\n\n\n\n$ in millions\n\n\n\nThree months ended\nMarch 31,\n\n\n\n% Change\n\n\n\nConstant-\nCurrency\n\n\n% Change\n\n\n\n\n\nBusiness / Product Line:\n\n\n\n2020\n\n\n\n2019\n\n\n\n\n\nCardiopulmonary\n\n\n\n$116.4\n\n\n\n \n\n\n\n$121.6\n\n\n\n \n\n\n\n(4.3\n\n\n\n%)\n\n\n\n(2.2\n\n\n\n%)\n\n\n\n\n\nHeart Valves\n\n\n\n25.2\n\n\n\n \n\n\n\n25.7\n\n\n\n \n\n\n\n(1.8\n\n\n\n%)\n\n\n\n0.6\n\n\n\n%\n\n\n\n\n\nAdvanced Circulatory Support\n\n\n\n10.5\n\n\n\n \n\n\n\n8.2\n\n\n\n \n\n\n\n27.2\n\n\n\n%\n\n\n\n27.3\n\n\n\n%\n\n\n\n\n\nCardiovascular\n\n\n\n152.1\n\n\n\n \n\n\n\n155.5\n\n\n\n \n\n\n\n(2.2\n\n\n\n%)\n\n\n\n(0.2\n\n\n\n%)\n\n\n\n\n\nNeuromodulation\n\n\n\n...

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