Daniel J. Brennan
Mike. Thanks,
foreign the First currency represents impact revenue quarter excludes and reported consolidated revenue of basis, an $X,XXX on XX.X% which million operational of fluctuations. growth growth X.X%
the $XX in expected of favorable the was organic strong to contributed which the time acquisition approximately $XX from Our $XX Symetis at X.X% revenue and to to across points, expectations time slightly metrics reflects guidance, throughout of at our exceeded tailwind $X.XX, $X.XX, Sales range XX% of above and This outperformance to reported high growth quarter. share to which for an this the which million from of year-over-year slightly end XXX million and of P&L. revenue driven above high growth the our top-line the the was resulting guidance. earnings end entire strong exchange, guidance foreign adjusted by million basis of of due per X% guidance the solid QX our sales $X.XX the businesses of X% We represents range performance leveraged majority is our regions. delivered tailwind
share guidance. slightly in we earnings Our adjusted $X.XX basis for the includes expected XX%, quarter, per which guidance Adjusted to and point in our XX.X%, was the negative margin above impact represents XXX improvement prior the line range FX with at approximately what of was quarter of a the XX.X% of over time gross year.
QX with approximately acquired FUSE the net of included EndoChoice. the recall voluntary charges the LOTUS adjusted margin However, XXX from XXXX points basis of of platform business and associated discontinuance the gross
basis process favorable to gross sourcing. realize on margin $XXX global of which in XX of operational shared $XXX year, offset basis development XXXX's global down point benefit product improvements, expense X.X% research Health services, SG&A, year-over-year. cost of expenses guidance this as QX importantly, XX.X% particularly the with was franchises. our quarter, initiatives our range Excluding as XX.X% of Adjusted result this million reducing from prior business of ability continue QX SG&A roughly year-over-year XXXX, our year-over-year or leveraging of of and QX impact reflects first manufacturing Men's targeted automation, points year. million, last in quarter of and Adjusted exchange is and year, voltage, expenses in and relatively high were remain the also CRM reductions, within were Royalty mix, focused well and sales, WATCHMAN, in to QX sales was XX% like We XXXX line but expansion end-to-end roughly a our to charge, streamlining foreign adjusted negative flat to to committed and in or sales flat with XXX XX%.
to future XX.X%, XX% and XX by P&L, margin comparable XXXX year. Management range QX goals, sales manufacturing guidance in mix full through no XX.XX% our adjusted a of plant operating QX continue result for network operationally the outlook Neuro gross margin Rhythm The XX.XX%. basis adjusted The margin as top as year and operating operating optimization, operating businesses. and of points to to operating Neuro adjusted improved remain XX.X% product new create results and just in make the businesses As underlying Normalizing portfolio XXXX, continue basis current an margin addition of Rhythm There's results. focus to the profile margin prior XX.X% XXX XX.XX%, quarter of in our these CRM, throughout segment points of in LOTUS strong not Resonate to operating well favorable of slightly performance in year-over-year we and basis a over goal margin on by increased one-time incurred year to The three our what operating represents was all and materially the and leverage the segment which, of XXXX, exceeded S-ICD and does for mentioned, for term. strong XXXX point plus rate longer on as that against our in year delivered strong The over guidance our adjusted of over neuromodulation increase efficiencies. change deliver solid a was XX% teams basis, or I on track three to line margin charges progress standalone year. driven gains Rhythm segment all and adjusted change our year to FUSE improvement XXX the related the of first
to And controls we of The the is be addition reasonable addition, of are basis. but also expected for slightly a strong combined over increasing prior MedSurg XXXX seeing segment, years, expense to are the margin and segment. operating and dilutive operating a margins Urology/Pelvic results Rhythm synergies. leveraging in segment, of couple Rhythm this from XXX year basis XXX now the margins delivering similar Management points is comprised XX.X% commercial on Health still basis by the Management of focus margin goal next to as points a ongoing goal The Endoscopy quarter, improvements to the significant year were. comparable where XXX In by now result, realized on Neuromodulation over
made topline we than Even leverage ongoing cost offset when as initiatives. investment the for margin charges capabilities LOTUS by heart increased the primarily year, franchise. year containment both investments more in operating across but consider Cardiovascular performance the basis commercial these slightly, XXX launches from it's points In and due businesses, over were to segment, you year, QX down in actually our last in structural strong
below move QX the million, Interest expense. to the for $XX interest in to I'll and year. was other million quarter Now expense compared last of $XX line
result of of XXXX. X% expense interest this due rate higher public slightly offering amount, than in QX average recent X.X% March was of year, aggregate as principal $X a in our X.X% senior last year, the notes QX Our X, billion
due With foreign commercial short-term October our of primarily investment, expense coming quarter, the from million repaid in we that as the sale well to as method losses program. related in available investments, quarter, our adjustments $XX for other and this of paper hedging our to XXXX. equity X.XX% exchange the first included in dilution and million balances were proceeds offering notes Adjusted certain of was $XXX
at rate X% XX.X% was and XX%. which of range basis, our low reported to quarter of first on on XX% tax the the basis a adjusted for guidance end Our was an
benefit from to still benefit stock rate year be points quarter tax operational points. underlying approximately stock comp expect approximately realized approximately the in XXX our and full basis a XXX compensation from of expected, XX%, basis As the was and net accounting we
with per weighted FX X,XXX million growth, XX% growth, to foreign amortization average share share year $X.XX adjusted to fully million QX We primarily outstanding. million Finally, basis, was net for diluted used charges a of represents free earnings fund Millipede. of compared activities, QX and ended shares Adjusted impact earnings over totaling expenses includes quarter, approximately in tax, investment reported $X.XX $XXX of was legal which GAAP the after On million, and year QX settlements, excluding namely XXXX per unfavorable exchange. the the XXXX in business or agreed includes flow $X.XX. previously development XXXX. $XXX quarter upon cash we cash $XXX In as well as the XX%
XXXX $X.X to flow approximately adjusted cash free continue We to be expect billion.
make remaining $XXX to our of legal related approximately to settlement million to progress make still payments litigation expect the to the and continue We mesh reserves mesh on cash the of fund good litigation.
resolution on continue all risk now majority We sheet the balance as claims, of reduce we mesh in approximately conditional, target have of near claims a reached settlement XXXX. on XX% the final known to final of our and or our
total legal March million was XX, which of of included, $X,XXX XXXX. Our is as mesh reserve,
this which we've reminder, as already settlement are payments made our qualified fund, a of As from in is liability sheet balance prior quarters. the out made payments into released
to on and benefit occurs. also the the expect net make booked. settlement reflect which approximately earnings tax consistent XXXX we in will to will years with finalizing sheet payments both addition, that believe of reserves finalized tax in million cash balance be QX, XXXX holds, quarter and GAAP which settled around tax would currently final our our it we the track, the remains to originally timeline still during adjusted In If expect in we of mid-year, IRS $XXX and the a for were QX, XXXX. adjust manner to stipulation We record that the in issues for
and into previously for the exploring a that benefit overall reinvest extent we XXXX tax our we that benefit are our tax of below to rate in announced tax adjusted operational to goal earnings, reducing the of strategies structure, with have tax goal beyond, our XX%. However,
million million cause as XXXX IRS combined to finalizing the contingencies. we were that tax Capital our finalizing billion As of our adjusted result not resulting This cash $XX approximately settlements settlement benefit a remaining million. a a do quarter to for the with year requires $XXX settle disputes result, the for payment significant full Revenue expect Internal guidance. mesh will from expenditures $XXX our with expected our modification EPS any for payment Service flow the $X.X first of year estimated existing
expect expenditures $XXX We and for the guidance for now continue walk we growth. to approximately XXXX. full year as and million year, capacity, QX drive capital acquisitions integrate through build I'll of
acquisition. year of to XXXX we year range For with basis, represents the consolidated an million Symetis which full be XX expect to organic point to an revenue X% over in growth the the million, $X,XXX $X,XXX of additional year on X% basis contribution from
$XXX XXXX. to be the expect tailwind year million for approximately of million full foreign We a to $XXX exchange
the impact guidance. than margin expect gross assumes points FX for be to negative a basis the continue points XX% of sales basis We full percentage greater year a to year, which our adjusted of now for prior XXX XX or as approximately
tariffs proposed manufacture U.S. U.S. the tariffs sold, goods in not component on do do purchase considered small China are between may if adjusted We from inventory gross margin applied goods. Chinese our China, slight recent cost have We a guidance. we but percentage of China, the pressure of manufactured be and our so also there in to
may impact. also and we expect the manage some products can we ability those have to we However, of substitute the
there be devices the impact there are XXX from to For will appears not it goods no currently because list China an China, list. imported on that
not today, expect developments, business. a will significant we but do as to We impact of to continue monitor our
XX.X% R&D spend be at to also seeing and full in SG&A adjusted and to to we expectations XX% operating XX.X% to of control full adjusted sales and for full slightly to change our year expense implies in rate with conference to for adjusted as there's to XX% on operating This programs the range XXXX. goals in year adjusted we're sales expect XX% of improvement sets royalty benefits us We X% XXXX. range remain continue well in currently margin underway than January the of investor of XX.XX%, a year of XX% deliver up less which year at the an margin no of a goal operating range on X outlined remains consistent long-term XXXX to of full a
our which our We tax the to rate our and XXX for and to to stock XX% compensation, QX be operational the an additional tax rate. basis benefit points rate of between continue majority of expect standard XXXX approximately from in accounting recognized reflect XX% was adjusted
expect below include count to the be the fully-diluted for capital hedging year from with a million for and X,XXX We venture year of million for program payments, which costs shares QX weighted associated approximately full XXXX. and approximately average $XXX interest and X,XXX dilution line shares share million our expenses, our portfolio,
growth As XX% raising revenue adjusted from On full representing a year earnings per growth. to range now result XXXX $X.XX in $X.XX. $X.XX of $X.XX, to a outlook and to of earnings of $X.XX a $X.XX basis, X% the a expect be to GAAP to share improved we outperformance, range to QX we adjusted a are EPS of range
year-over-year to operational with May. at revenue represents consolidated Symetis, range which in to the X% $X,XXX of point from to XX end we will turning of $X,XXX in a be XXXX, organic This expect additional of we million growth a Now range X% to contribution QX anniversary basis an growth million.
will a be to exchange impact million $XX million QX tailwind. expect We on $XX the revenue foreign
range a financial guidance, be For representing $X.XX share highlights, Our is is which to to item line expected of $X.XX as XXXX EPS range share, in XXXX of per in and operational results X% quarter, per adjusted and a earnings as full-year GAAP be to to $X.XX growth, guidance. expected XX% the per QX for check Please Relations including website $X.XX QX to P&L well QX share. and outlines Investor second
that I'll will the with moderate So, it back who Q&A. to turn Susie
