LivaNova (LIVN) FY2020 results: revenue $934 million, down 13.8% on the year
LivaNova plc (LIVN) reported revenue of $934 million for fiscal 2020, the year ended 31 December 2020, down 13.8% on the year before. Net income was -$349 million, and diluted earnings per share $-7.18. The figures are the company's own, from the 10-K it filed with the SEC on 1 March 2021.
Revenue
$934 million
-13.8% on the year
FY2016FY2020
Operating margin
-29.3%
-15.8% a year earlier
FY2016FY2020
Net income
-$349 million
FY2016FY2020
Diluted EPS
-$7.18
FY2016FY2020
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2020
FY2019
FY2018
On the year
Last 8 years
Revenue
934
1,084
1,107
-13.8%
Cost of revenue
339
360
362
-5.8%
Gross profit
595
724
745
-17.8%
Gross margin
63.7%
66.8%
67.3%
Research and development
153
147
146
+4.1%
Selling, general and administrative
447
528
465
-15.5%
Operating income
-274
-172
-248
Operating margin
-29.3%
-15.8%
-22.4%
Interest expense
40.8
15.1
9.8
+170.6%
Pre-tax income
-348
-188
-247
Income tax
-1.0
-30.4
-69.6
Net income
-349
-158
-189
Net margin
-37.3%
-14.5%
-17.1%
Diluted EPS
-$7.18
-$3.26
-$3.91
$ million except per share. Read moreFree cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Those four are arithmetic on the filed numbers; everything else is as filed. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and share counts are as they are.
Cash flow
$ million
FY2020
FY2019
FY2018
On the year
Last 8 years
Operating cash flow
-79.4
-91.1
120
Capital expenditure
35.0
24.7
37.2
+41.8%
Free cash flow
-114
-116
83.3
Free cash flow margin
-12.3%
-10.7%
7.5%
Cash from investing
-41.8
-41.3
-121
Cash from financing
311
147
-42.3
+112.0%
Depreciation and amortisation
29.0
30.3
69.9
-4.2%
Share-based compensation
35.1
32.6
26.9
+7.8%
Buybacks
0.0
0.0
50.0
Diluted shares, weighted
49m
48m
48m
+0.5%
Shares outstanding at period end
49m
48m
48m
+0.4%
Balance sheet
$ million
FY2020
FY2019
FY2018
On the year
Last 8 years
Shareholders' equity
1,109
1,378
1,500
-19.5%
Debt
656
338
168
+94.1%
Operating lease liabilities
42.2
46.0
0.0
-8.3%
Other liabilities
593
650
881
-8.8%
Total liabilities and equity
2,400
2,412
2,550
-0.5%
Fixed assets
164
181
191
-9.7%
Goodwill
922
916
957
+0.7%
Intangible assets
438
608
770
-28.0%
Cash and equivalents
253
61.1
47.2
+313.5%
Receivables
184
258
256
-28.5%
Inventory
115
164
154
-29.8%
Other assets
324
224
174
+44.5%
Total assets
2,400
2,412
2,550
-0.5%
10-K for the year ended 31 December 2020, filed 1 March 2021: the filing.