LivaNova Reports Fourth Quarter and Full-Year 2019 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 and full-year ended December 31, 2019.\n\n\nFor the fourth quarter of 2019, worldwide sales were $287.6 million, a decrease of 3.2 percent on a reported basis and a decrease of 2.2 percent on a constant-currency basis, as compared to the same quarter of the previous year. On the basis of U.S. Generally Accepted Accounting Principles (GAAP), fourth quarter 2019 diluted loss per share from continuing operations was $2.96. Fourth quarter 2019 adjusted diluted earnings per share from continuing operations were $1.00. For full-year 2019, worldwide sales from continuing operations were $1.1 billion, a decrease of 2.1 percent on a reported basis and an increase of 0.1 percent on a constant-currency basis, as compared to the previous year. On a GAAP basis, full-year 2019 diluted loss per share from continuing operations was $3.22. Full-year 2019 adjusted diluted earnings per share from continuing operations were $3.08.\n\n\n“We are encouraged by several trends in our fourth quarter 2019 results, highlighted by strong sales in Advanced Circulatory Support (ACS) and continued stability in our Epilepsy business. These successes were offset by an unexpected component supplier issue for oxygenators and execution challenges in the Rest of World region relating to distribution model changes,\" said Damien McDonald, Chief Executive Officer of LivaNova. “Our team is focused, and I am confident that the building blocks we have put in place in 2019 will enable us to achieve our financial and operational goals in 2020.”\n\n\nFourth Quarter 2019 Results\n\n\nThe following table highlights worldwide sales for the fourth quarter of 2019 and by business:\n\n\n\n\n$ in millions\n\n\n\nThree months ended December 31,\n\n\n\nAs Reported\n% Change\n\n\n\nConstant-Currency\n% Change\n\n\n\n\n\nBusiness / Product Line:\n\n\n\n2019\n\n\n\n2018\n\n\n\n\n\nCardiopulmonary\n\n\n\n$132.6\n\n\n\n \n\n\n\n$146.7\n\n\n\n \n\n\n\n(9.6\n\n\n\n%)\n\n\n\n(8.4\n\n\n\n%)\n\n\n\n\n\nHeart Valves\n\n\n\n32.1\n\n\n\n \n\n\n\n28.6\n\n\n\n \n\n\n\n12.4\n\n\n\n%\n\n\n\n14.0\n\n\n\n%\n\n\n\n\n\nAdvanced Circulatory Support\n\n\n\n8.8\n\n\n\n \n\n\n\n7.4\n\n\n\n \n\n\n\n19.7\n\n\n\n%\n\n\n\n19.8\n\n\n\n%\n\n\n\n\n\nCardiovascul...

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