you, you thank the will surrounding performance, quarterly afternoon, but for calls call Penumbra's pandemic our and the continue considerations Thank Conference significant a has only Jee. society, pandemic. and than prior and our Quarter to differently impact larger have Call. also to economy. Today's structured global First COVID-XX joining not XXXX our earnings on earnings health Good be will address had The
Penumbra this. anything before, have While obviously faced never challenging like has we handled times
challenging culture have navigate and during help guides mission this However, served our and our as through us we will always times, believe they period. important to continue unprecedented
pandemic. families we Starting early in and and economically physically several the keeping March, secure. on safe employees actions our in actions, to These first, response their immediate focused took
of as new enable to able supply all us support this to return allow pandemic that as more which we and to our throughout keep strategic But the hope we normal company pandemic partners, will the have of satisfy priorities: soon first following be that if gives we Penumbra safe long mission actions specific in waves focus operations confidence return place from next this put operating business that positioning to pandemic. and manner we our our have for to to our be measures necessary. the can emerge The of this second, us into this operate a great already to manner the strong all they to sure course pandemic even pandemic; can captured We third, This sheet; And during and to undertaken work environment. this additional were us the Penumbra were balance come. is restructuring patients. customers, manufacturing in to able and was we employees serve stronger. making priority our in Our over safe first, that suppliers fortifying our allow that
topic I I by in we to will intend quarter, about early effectively what operate the will we more we April. business will then commentary it during over. is first begin this my when it in address observed saw from emerge and I include sharing the that trends the and important pandemic ultimately how
it quarter a million, total X.X% the first currency. X.X% as constant in results, to quarter As our our and year-over-year increase of $XXX.X for revenues relates first were reported
additional constant and some have the our million that versus our currency and in last $XX.X operating will year. period we provide will commentary. same quarter, year the review the the in operating sheet period We was the $X.X also Japan, income XX.X% detail quarter. further fourth over on last taken flat balance of sequentially compared for an financials, she of her increase had income Excluding expenses including in to million Maggie quarter
that quarter, began impact our business observe end in we the have through of April. to first a particularly we COVID-XX, month on March. I share negative to will due certain through seen the business In trends the observations in
we While have still signs pandemic, started see the stabilization. of to it in early is
we note United the of around to important is number see a that countries based these changes it States are factors in on our world. current However, can rapid and the observations, and
of channel. impact the XX% and declines in strict COVID-XX Globally, compared seen have daily geographies distancing then observed April, our hotspots, in broadly, business type trends our the around levels. of revenue initially have physical direct was measures. adopted sales for nature pre-COVID by proactively vary on normal communities to pre-COVID the to trends declined, average, as more and procedure We geography, month versus Geographically,
States down our pre-COVID Europe, United versus and the have in trended sales XX% Within April around levels.
are are three we changes not are growth versus sharing year-over-year the for rates. trends figures the that pre-COVID. reminder, As These recent percentage a months
relates in down trended has As levels. Neuro our business between States XX% average insulated. XX% more type, to In have pre-COVID to United it the April generally been compared daily to and Europe, procedure sales
Turning to business. our Vascular
have XX% number pre-COVID are urgent seen our around a we the are versus and percentage greater have of decline gathered from in procedures presenting at elective vascular normal. trends. cases We of down A nature, significantly hospitals
is to. way, developing that phenomenon extremity up close physicians show patients early to in last PE in numbers in weeks, are for paying it from lower number attention COVID-XX resulting we is several arterial large occlusions. but the and meaningful Over increased a thrombosis, have our It many of DVT, heard this a seeing of too they vessel an our are we with that
as show in we channels, to our Lastly, lagging we Japan, look ordering they therefore will in international of and particularly QX COVID-XX, we at related reflected expect patterns. effect believe a and that would be many distributor to China
a additional term, impact regarding than held early to FDA the March, and to commentary positive space term. of pipeline new Roseville, February important highlight Vascular, Neuro our physical triple January, the having that for turn facility of COVID-XX. for This employees. the received one capacity current like will In and gives California. updates would my of developments it a in production our safety the one ribbon-cutting But in I ceremony more manufacturing we to in the us we two a distancing maintaining long short few occurred and significant clearances, while operational manufacturing prior to protocols capacity, the In quarter in in increase in our advantage late respectively. facility
is commercial effective we be than in adjust earlier both physician the will our to new new regulatory environment. to opportunity time appropriate these allow to customers. launch to expected, additional this when clearances it came more to This refine While will time our line strategies engage our us technologies
starting and navigate early first The the to resilience to challenges the capacity final the acknowledge extraordinary COVID-XX the this Penumbra in they of and the March. quarter team company commend have through entire related difficult the to shown addressing team point work time. The character, and about is has in issues
agree stories to it at have of of We call our that work I teams. production work the appropriate everyone is out think operations lots But of Penumbra incredible done. being and would amazing
we employees in keeps we how that challenge restructuring mid-March. make, and inspect manner product our another a to safe faced also possible, in addition as all as In ship
an have a we were we this X.X of on inventory. warehouse Lake where as Just journey, magnitude new earthquake with hit starting area, significant the City Salt
in to Our return normal to and in people the and This from need. were City products the our to work incredible in heroic all in disruption inventory and safe, it resulted hard but warehouse team sacrifice XX to supply a to Lake effort critical minimal Salt no ability team hours. our within function the those took from California
I that a Now moments I'd to previously take the priorities few address outlined. to strategic like
as have health We within our make, other governmental distancing mandated products inspect safety by and the restructured protective operating state to and ship the orders. are how and fully our This protocols prioritize employees. and of local physical we our means we so
have able the keep this our up far with for We so substantial and to us to that been changes make allow products. do demand
their commercial to many have professionals But out critical we tackled when otherwise issues they they way us. that communicated has here we need healthcare our of are addition, team In customers gotten to today. the them our support as facing have
moved our balance sheet. have already fortify strong to We protect and also
debt. approximately $XXX and have We cash no million in
Bank $XXX of access million into revolving team and navigate Citibank. to America our this additional put a current environment. We addition, JPMorgan, to to line of is In worked capital prudent quickly with us give a believe the way credit to place
are this work a some account workflow streamlining even certain functions during This And positioning this of leadership time. has and that young we involves environment emerged extraordinary ourselves into in take stronger to emerge and following decision-making the finally, pandemic. to new the
how going investing reimagined us will forward, important around our allowing continued We customers have and Further, helpful be we have teams our and interact supportive the also new paradigm. with to opportunities. commercial in should
REAL have from For programs that directly development example, to accelerated for opportunities this new address the System emerging pandemic. are we
We time. necessary will patients keep for external and looking challenging help that this opportunities critical and are during to internal
work comments and every by to well as our has a for say our measured want hard We respect honored us the safe companies, and to the people loss and workers Penumbra at States people all United like most other And compassion with to be want responders person moment, by of our businesses in I end that am will to importantly, risen challenge admiration that Penumbra mourn would am work and my keep the and crisis, them. remember help I our that essential and our during this in today willingness attitude, the healthcare noting to I as of workers, and all for healthy. many world. of credible first so around to all express us so at proud to once-in-a-lifetime to others.
Our their with thoughts communities. families are and
turn I'll Maggie. now the over call to
