LivaNova Reports Second Quarter 2017 Results
Published: Aug 10, 2017
LivaNova PLC (NASDAQ:LIVN) (“LivaNova” or the “Company”), a market-leading medical technology and innovation company, today reported results for the quarter ended June 30, 2017.
For the second quarter of 2017, worldwide sales were $321.4 million, an increase of 0.1 percent on a reported basis and an increase of 1.4 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), second quarter 2017 earnings per share were $0.98. Second quarter 2017 adjusted diluted earnings per share were $1.01.
“We made progress in many areas of our business during the second quarter, including strong margin and earnings performance,” said Damien McDonald, Chief Executive Officer. “We hired a new Chief Financial Officer and a new General Counsel, strengthening LivaNova's executive leadership team. In June, the U.S. FDA approved our VNS Therapy® device for use in patients as young as four years of age with partial onset seizures that are refractory to antiepileptic medications. This makes VNS Therapy the first and only device approved by the FDA for drug-resistant epilepsy for this pediatric population. This approval will allow us to reach a new patient pool and have a meaningful impact on their quality of life. We also advanced our efforts to integrate the Caisson acquisition, which is on schedule and going extremely well. These steps further enhance our competitive industry position, delivering both quality patient care and long-term shareholder value."