LivaNova shares up on topped Q4, 2017 earnings

Shares in LivaNova (NSDQ:LIVN) rose today after the medical device maker met most of the expectations on Wall Street with its fourth quarter and full fiscal year 2017 earnings results. The London-based company posted losses of $111.7 million, or $2.32 per share, on sales of $278.4 million for the 3 months ended December 31, seeing losses grow 61.5% while sales grew 11.5% compared with the same period during the previous year. After adjusting to exclude one-time items, earnings per share were 89¢, just ahead of the 77¢ consensus on Wall Street where analysts were expecting to see sales of $262.7 million. For the full year, LivaNova posted losses of $25.1 million, or 52¢ per share, on sales of $1 billion, seeing losses grow 60% while sales grew 4.9% compared to the previous fiscal years. Adjusted to exclude one-time items, earnings per share were $3.54, ahead of the $3.32 consensus on Wall Street where analysts were expecting to see sales of $1.1 billion, which the company narrowly missed. “We had a tremendous fourth quarter, meeting all of our financial targets for the year. Neuromodulation benefited from the strong performance of our newest VNS Therapy System, SenTiva, which received U.S. Food and Drug Administration approval in early October 2017. The business also benefited from rescheduled procedures as a result of hurricane impacts in the third quarter. Cardiac Surgery experienced robust growth, driven by sales of our S5 heart-lung machine and our Perceval su...
Source: Mass Device - Category: Medical Devices Authors: Tags: Business/Financial News MassDevice Earnings Roundup Wall Street Beat LivaNova Source Type: news