LivaNova PLC (NASDAQ:LIVN) Q1 2018 Earnings Conference Call - Preliminary Transcript

May 02, 2018 • 09:00 am ET


LivaNova PLC (NASDAQ:LIVN) Q1 2018 Earnings Conference Call - Preliminary Transcript


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Good day, ladies and gentlemen, and welcome to the LivaNova PLC First Quarter 2018 Earnings Conference Call. (Operator Instructions) As a reminder, this conference call is being recorded. I would now like to introduce your host for today's conference, Ms. Karen King, LivaNova's Vice President of Investor Relations & Corporate Communications.

Karen King

Thank you, and welcome to our conference call and webcast discussing LivaNova's financial results for the first quarter 2018. Joining me on today's calls are Damien McDonald, our Chief Executive Officer; and Thad Huston, our Chief Financial Officer.

This morning's press release, slide presentation and conference call include forward-looking statements. Forward-looking statements may be identified by the use of forward-looking terminology including, but not limited to, may, believe, will, expect, anticipate, estimate, plan, intend and forecast or other similar words. Statements are based on information presently available to us and assumptions that we believe to be reasonable.

Investors are cautioned that all such statements involve risks and uncertainties. Our actual results, performance or achievements may differ materially from those expressed or implied by these forward-looking statements which are not guarantees of future performances and involved known and unknown risks and uncertainties, and other factors that are in some cases beyond the company's control. For detailed discussion of the factors that may cause our actual results to differ, please refer to our most recent filings with the SEC and other regulatory filings.

Included in the press release today are selected non-GAAP operating results. In this press release management has disclosed financial measurements that present financial information, not necessarily in accordance with Generally Accepted Accounting Principles or 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 measures as prescribed per GAAP. Please review the financial tables provided in the press release that reconcile such non-GAAP measures to directly comparable financial measures presented in accordance with GAAP.

To enhance the call, we have posted a presentation to our website that summarizes the points of today's call. This presentation is complementary to other call materials and should be used as an enhanced communication tool. You can find the presentation in the Investor Relations section of our website under News & Events, Presentations at In just a few moments, Damien will be discussing net sales results for the quarter.

In our press release, we provide a table that shows both reported net sales growth and constant currency growth, so you can see the impact of foreign currency fluctuations. For discussion purposes, our comments on net sales growth during opening remarks will be expressed in constant currency.

And with that, I will now turn the call over to Damien.

Damien McDonald