LivaNova PLC (LIVN) on Wednesday reported lower profit for the fourth quarter despite higher revenue, mainly due to foreign exchange and other expense compared with income in the prior year.
Net income declined to $30.9 million or $0.56 per share from $55.9 million or $1.02 per share a year ago. The company recorded foreign exchange and other expense of $2.3 million compared with income of $35.2 million in the prior-year quarter
Excluding one-time items, earnings were $0.86 per share.
Operating income increased to $42.6 million from $37 million, while adjusted operating income rose to $63.8 million from $55.6 million last year.
Quarterly revenue grew 12.1% to $360.9 million from $321.8 million in the prior-year period.
For the full year, the company expects revenue to grow between 6% and 7% on a constant-currency basis. Adjusted earnings per share is projected in the range of $4.15 to $4.25.
LivaNova shares closed at $69.05 on Tuesday, up 1.02%.
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