LivaNova Reports Fourth-Quarter and Full-Year 2022 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, 2022 and issued guidance for 2023.\n\nFourth-Quarter Financial Summary and Highlights1\n\n\nFourth-quarter revenue of $274.9 million increased 1.8 percent on a reported basis and 6.2 percent on a constant-currency basis, as compared to the prior-year period\n\n\nFourth-quarter U.S. GAAP diluted earnings per share was $0.03 and adjusted diluted earnings per share was $0.81\n\n\nCompleted first clinical cases using EssenzTM, the Company's next-generation perfusion system, at two major centers in Europe\n\n\nReceived ECMO indication 510(k) clearance for LifeSPARCTM\n\n\nReceived close-out of FDA Warning Letter associated with the Munich facility and 3T Heater-CoolerTM\n\n\nFull-Year Financial Summary1\n\n\nFull-year 2022 revenue of $1.02 billion decreased 1.3 percent on a reported basis and increased 2.9 percent on a constant-currency basis, as compared to the prior year\n\n\nFull-year 2022 revenue, excluding revenue from the Heart Valve business which was divested effective June 1, 2021, increased 2.3 percent on a reported basis and 6.7 percent on a constant-currency basis, as compared to the prior year\n\n\nFull-year 2022 U.S. GAAP diluted loss per share was $1.61 and adjusted diluted earnings per share was $2.39\n\n\n\"We delivered revenue growth across all regions in the fourth quarter, excluding foreign currency impact, led by our Cardiopulmonary and Neuromodulation business units,\" said Damien McDonald, Chief Executive Officer of LivaNova. \"In 2023, we remain committed to executing on our core growth drivers, delivering on clinical and product pipeline opportunities, and driving operating leverage to improve cash flow.\"\n\nFourth-Quarter 2022 Results\n\nThe following table summarizes revenue for the fourth quarter of 2022 by segment (in millions):\n\n\n\n \n\n\n\n \n\n\n\nThree Months Ended\n\n\nDecember 31,\n\n\n\n \n\n\n\n% Change\n\n\n\n \n\n\n\nConstant-Currency\n\n\n% Change\n\n\n\n\n\n \n\n\n\n \n\n\n\n2022\n\n\n\n \n\n\n\n2021\n\n\n\n \n\n\n\n \n\n\n\n\n\nCardiopulmonary\n\n\n\n \n\n\n\n$136.5\n\n\n\n \n\n\n\n$133.1\n\n\n\n \n\n\n\n2.5\n\n\n\n%\n\n\n\n \n\n\n\n9.3\n\n\n\n%\n\n\n\n\n\nNeuromodulation\n\n\n\n \n\n\n\n127.1\n\n\n\n \...

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