Earnings release
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Liva Nova Health innovation that matters LivaNova Reports Third Quarter 2021 Results NEWS RELEASE London , November 3 , 2021 - LivaNova PLC ( NASDAQ : LIVN ) , a market - leading medical technology and innovation company , today reported results for the quarter ended September 30 , 2021 . For 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 - currency ¹ 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 . " 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 . ” ¹Constant - currency percent change is a non - GAAP metric . For an explanation of this and other non - GAAP metrics used in this release , please see the section entitled " Use of Non - GAAP Financial Measures . " For reconciliations of certain non - GAAP metrics , please see the tables that accompany the press release . 1