LivaNova Reports Third Quarter 2021 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 September 30, 2021.\n\nFor the third quarter of 2021, worldwide sales from continuing operations were $253.2 million, an increase of 5.5 percent on a reported basis and 5.0 percent on a constant-currency1 basis, as compared to the same quarter of the previous year. Excluding sales from the Heart Valves business, which was divested effective June 1, 2021, worldwide sales from continuing operations increased by 15.7 percent on a reported basis and 15.2 percent on a constant-currency1 basis for the third quarter of 2021 compared to the third quarter of 2020. On the basis of U.S. Generally Accepted Accounting Principles (GAAP), third quarter 2021 diluted loss per share from continuing operations was $0.82. Third quarter 2021 adjusted diluted earnings per share from continuing operations was $0.68.\n\n“Our third-quarter performance demonstrates continued focus on execution across all regions in our key product lines amidst lingering COVID-19-related headwinds,” said Damien McDonald, Chief Executive Officer of LivaNova. “We are encouraged by our sales growth year over year and compared to 2019, excluding the impact of Heart Valves. In addition, we saw improvements in margins and cash flow generation. We also strengthened our financial flexibility with the completion of an equity offering during the quarter, which allowed us to retire the $450 million term loan and enter into a new $125 million revolver.”\n\nThird Quarter 2021 Results\n\nThe following table summarizes worldwide sales for the third quarter of 2021 by business:\n\n\n\n$ in millions\n\n\n\nThree Months Ended September 30,\n\n\n\n% Change at\n\n\nActual\n\n\nCurrency Rates\n\n\n\n% Change at Constant-Currency Rates\n\n\n\n\n\nBusiness / Product Line:\n\n\n\n2021\n\n\n\n2020\n\n\n\n\n\nCardiopulmonary\n\n\n\n$123.2\n\n\n\n$107.2\n\n\n\n15.0\n\n\n\n%\n\n\n\n14.5\n\n\n\n%\n\n\n\n\n\nHeart Valves\n\n\n\n—\n\n\n\n21.1\n\n\n\nN/A\n\n\n\n \n\n\n\nN/A\n\n\n\n \n\n\n\n\n\nAdvanced Circulatory Support\n\n\n\n15.4\n\n\n\n12.5\n\n\n\n22.8\n\n\n\n%\n\n\n\n22.7\n\n\n\n%\n\n\n\n\n\nCardiovascular\n\n\n\n138.6\n\n\n\n140.9\n\n\n\n(1.6\n\n\n\n)%\n\n\n\n(1.9\n\n\n\n)%\n\n\n\n\n\nNeuromodulation\n\n\n\n113.3\n\n\n\n98.4\n\n\n\n15.1\...

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