LivaNova Reports Preliminary Unaudited First Quarter 2019 Revenue Results
Preliminary First Quarter 2019 Results
The Company expects worldwide sales from continuing operations for the first quarter 2019 to be approximately
|$ in millions||
Three months ended
|Business / Product Line:||2019||2018||% Change||% Change|
|Total Net Sales||$||250.5||$||250.4||0.0%||4.0%|
Note: Numbers may not add up precisely due to rounding. Constant-currency % change is considered a non-GAAP metric. Constant-currency growth accounts for the impact from fluctuations in the various currencies in which the Company operates as compared to reported growth.
The Neuromodulation business experienced unexpected weakness in the U.S. market due to a combination of factors, including competitive dynamics and salesforce turnover. Softness in Perceval sales coupled with continued declines in overall heart valve sales negatively impacted the Cardiovascular business during the quarter.
2019 Guidance and Financial Outlook
Note Regarding Preliminary Results
The financial results presented in this release are preliminary and may change. This preliminary financial information includes calculations or figures that have been prepared internally by management and have not been reviewed or audited by our independent registered public accounting firm. There can be no assurance that the Company’s actual results for the periods presented herein will not differ from the preliminary financial data presented herein and such changes could be material. This preliminary financial data should not be viewed as a substitute for full financial statements prepared in accordance with GAAP and is not necessarily indicative of the results to be achieved for any future periods.
Webcast and Conference Call Instructions
The Company will host a live audio webcast for interested parties commencing at
Within 24 hours of the webcast, a replay will be available under the “News & Events / Events & Presentations” section of the Investor Relations portion of the
LivaNova PLC is a global medical technology company built on nearly five decades of experience and a relentless commitment to improve the lives of patients around the world. LivaNova’s advanced technologies and breakthrough treatments provide meaningful solutions for the benefit of patients, healthcare professionals and healthcare systems. Headquartered in London, LivaNova has a presence in more than 100 countries worldwide. The Company currently employs approximately 4,000 employees. LivaNova operates as two businesses: Cardiovascular and Neuromodulation, with operating headquarters in Mirandola (
For more information, please visit www.livanova.com.
Use of Non-GAAP Financial Measures
In this press release, management has disclosed financial measurements that present financial information not necessarily in accordance with GAAP. Company management uses these measurements as aids in monitoring the Company’s ongoing financial performance from quarter to quarter and year to year on a regular basis and for benchmarking against other medical technology companies. Non-GAAP financial measures used by the Company may be calculated differently from, and therefore may not be comparable to, similarly titled measures used by other companies. These non-GAAP financial measures should be considered along with, but not as alternatives to, the operating performance measure as prescribed by GAAP.
Unless otherwise noted, all sales growth rates in this release reflect comparable, constant-currency growth. Management believes that referring to comparable, constant-currency growth is the most useful way to evaluate the sales performance of
Furthermore, adjusted financial measures allow investors to evaluate the Company’s core performance for different periods on a more comparable and consistent basis, and with other entities in the medical technology industry by adjusting for items that are not related to the ongoing operations of the Company or incurred in the ordinary course of business.
Safe Harbor Statement
This news release contains forward-looking statements within the meaning of Section 27A of the United States Securities Act of 1933, as amended, and Section 21E of the United States Securities Exchange Act of 1934, as amended. Forward-looking statements are not historical facts but are based on certain assumptions of management and describe LivaNova’s future plans, strategies and expectations. Forward-looking statements can generally be identified by the use of forward-looking terminology, including, but not limited to, “may,” “could,” “seek,” “guidance,” “predict,” “potential,” “likely,” “believe,” “will,” “expect,” “anticipate,” “estimate,” “plan,” “intend,” “forecast,” or variations of these terms and similar expressions, or the negative of these terms or similar expressions. Forward-looking statements contained in this news release are based on information presently available to
All information in this news release is as of the date of its release.
|U.S. dollar in millions|
Three Months Ended March 31,
% Change at
% Change at
|Rest of World||46.9||49.8||(5.8%)||2.0%|
|Rest of World||10.7||12.4||(13.4%)||(5.1%)|
|Rest of World||0.1||-||N/A||N/A|
|Rest of World||57.8||62.2||(7.2%)||0.7%|
|Rest of World||7.1||5.6||27.8%||36.2%|
|Rest of World||0.6||0.4||N/A||N/A|
|Rest of World||65.5||68.1||(3.9%)||4.1%|
* The preliminary sales results presented are unaudited. Numbers may not add due to rounding.
LivaNova PLC Investor Relations and Media
Melissa Farina, +1 (281) 228-7262
Vice President, Investor Relations
Deanna Wilke, +1 (281) 727-2764
Director, Corporate Communications