Latest news with #PatMackin
Irish Independent
4 days ago
- Sport
- Irish Independent
Bumper crowd for Louth GAA club's 5k
I was only after arriving when I met up with hurler Sean Byrne from New Muirhevna who said he was there to help with the stewarding and said they were expecting a huge crowd to take part. Next I got a word with ex footballer Pat Mackin from Knockbridge who played with the seniors for 20 years and said it was a lovely evening for the 5K and they were expecting more than 250 to take on the race. I then headed over for a chat with club chairperson and an old friend of mine Eugene Kirk from Grange who was there with his son Oisin. He told me he was very proud to be there to make sure the inaugural race went off without a hitch and was delighted that the four clubs had come together to help raise money both for the upkeep of the club and help with their brand new pitch which is in the pipeline too. He then introduced me to chairperson of the ladies team Shane Darcy who was in great form and was looking forward to the run. When I asked if any of his team would be taking part, he jokingly replied 'of course they are, if they're not then they're dropped'! I did manage to get a quick word with main organiser Fiona Carpenter from Lisroland View who was extremely busy that evening but did say the entire even had come together in a short period of time, around 3 months and was pleased all four clubs showed such enthusiasm towards the fundraiser for the upkeep of the pitch and the grounds. Not too far away I managed to get a quick chat with Raymond Kelly from Stephenstown who was on the race organising committee and is a manager of the Division 5 team and has been a Brides member for more years than he can remember. He is also a North East Runner and was really looking forward to making sure the event took place without any major incidents. Next I headed over for a chat with father and son Noel and Ruairí Carpenter from Lisroland View. Ruairí is a Louth Minor player and said neither would be taking part but were happy to be stewarding. They went on to say it's a great event for the Knockbridge community and there's a great buzz of anticipation around the ground. After this I met up with Andrew Cumiskey from Rathiddy but is better known as the main man from Frank's Carpets from the North Link Retail Park and is responsible for the Ladies u16 and u12 teams who told me there was a lot of preparation getting everything for the 5k but as the start grew closer he was really looking forward to it. Next I headed over for a quick word with two ladies Sharon Kelly and Deirdre McEnteggart both from Knockbridge. Sharon said she was certainly looking forward to the run and had got the bug after taking part in a 'Couch to 5k'after Christmas. Deirdre said she wasn't taking part but was there to cheer on all the kids during the race. After this I managed a quick word with Paul Quigley from Lennonstown Manor who is a North East Runner and said he wasn't sure how well he'd go after doing the Newry Half Marathon the previous weekend had found it a bit challenging, but was looking forward to the first Knockbridge 5k all the same. ADVERTISEMENT I then had the pleasure of meeting Mary McKenna from Little Ash and Kathleen McNally from Rathiddy who said they were there to help out and would be making sure the runners got their sustenance after they'd finished with plenty of tea and refreshments. Not too far away I met up with Caitriona McCaughey from Dundalk who was warming up and was looking forward to the race. I then managed to get a quick word with Rita Sweeney from Grange who said she was just there to help out and certainly didn't want me to mention how she had featured on the tv coverage during the big Louth win against Meath in Croke Park a few weeks ago! Making my way onto the pitch I then got a word with Padraig Smith from Lisroland View, Deirdre Mackin from Rathiddy, Susan and Lauren Fennell from Knockbridge who are all club members were looking forward to the race. They were then joined by Rachel Rice from Blackrock who told me she plays with the St. Brides ladies and was going to be leading the warm up exercises before the race actually got under way. I then headed over for a word with Orla Callan from Marlmount and Brenda Kieran from Rathbrist who told me their kids Theo and Ellie Callan, Adam, Joey, Georgia and Dylan are all at the school and have just started to play with the Brides, so they certainly weren't going to miss the fundraiser. After this I met Glen, Lisa, Jack and Killian Crowe from Seafield Road in Blackrock who said they were all looking forward to the run and thought it was a great idea as a fundraiser for the club. Not too far away I got a word with Conor McClenaghan from Haggardstown who said he is an ex player and ex student at the school and was definitely there to support the run and was really looking forward to it. Beside Conor I then caught up with Emma and Paddy O'Connor from Lisroland View who said it was a lovely evening for the race and they were going to be stewarding throughout. After this I met up with Sinead and Dermot McKeown from Blackrock and Louise Wynne from Lisheen Park who were looking forward to the start and wanted to say a word of thanks to Stephen Hillard from Pro Property whom they said was one of main sponsors of the event. As Rory McClean the teacher from St, Mary's School called everyone to order on the PA, I caught up with Deirdre Searson from Loughantarve from the camogie club who said she was a steward for the race but wanted a special mention for sister-in-law and niece Tara and Aoife McArdle who were running that evening and to wish them all the best. Next I met Una Sheils from Dunmahon who was there with niece Niamh Bailey from Knockbridge and told me they were there to support their local club and were looking forward to the run on such a lovely sunny evening. I then got a word with father and son Eamon and Emmett Kirk from Ballinclare. Eamon was armed with a camera and was there to immortalise the event while Emmett was there to help out to make sure the event ran smoothly. As the communal stretching got under way I managed to get a quick word with Lorna McLoughlin from Loughantarve who was with son Kyla and Marion Brabazon from Lisroland View who was with daughter Gia and said they were there to support the runners on such a lovely evening. Finally, before I departed I met Padraig Murphy from Avondale Park who said he was there with his son Patrick, a member of St. Gerards AC who was warming up for the race and agreed they had got a lovely evening for the first Knockbridge5K and wished the club all the best.
Yahoo
28-05-2025
- Business
- Yahoo
Artivion Announces Closing of Transactions to Exchange $99.5 Million in Principal Amount of its 4.250% Convertible Notes Due 2025 for Common Stock
ATLANTA, May 28, 2025 /PRNewswire/ -- Artivion, Inc. (NYSE: AORT), a leading cardiac and vascular surgery company focused on aortic disease, today announced the closing of transactions related to previously announced, privately negotiated exchange agreements with certain holders (the "Holders") of its 4.250% Convertible Senior Notes due 2025 (the "Notes"). The closing transactions included the closing of an additional, privately negotiated agreement with a separate holder. Under the terms of the exchange agreements, the Holders exchanged an aggregate principal amount of approximately $99.54 million of Notes held by the Holders in exchange for an aggregate of 4,334,347 shares of the Company's common stock ("Shares"). In addition, pursuant to the exchange agreements, the Company made a cash payment of approximately $1.7 million to the Holders for accrued and unpaid interest on the exchanged Notes. Immediately following the closing of the transactions contemplated by the exchange agreements, approximately $0.46 million in aggregate principal amount of the Notes remained outstanding. "The closing of these transactions results in the effective retirement of our convertible notes and marks a significant milestone in strengthening our financial position. By nearly eliminating this outstanding debt, we are not only meaningfully reducing our leverage ratios but also substantially enhancing our balance sheet flexibility," said Pat Mackin, Chairman, President, and Chief Executive Officer. J. Wood Capital Advisors LLC acted as financial advisor to Artivion in connection with the exchange transactions. The Shares issued in the exchanges have not been registered under the Securities Act of 1933, as amended (the "Securities Act"), or the securities laws of any state or other jurisdiction, and may not be offered or sold in the United States absent registration or an applicable exemption from the registration requirements of the Securities Act and such other jurisdictions. This press release is neither an offer to sell nor a solicitation of an offer to buy any of these securities nor shall there be any sale of these securities in any state or jurisdiction in which such an offer, solicitation or sale would be unlawful prior to the registration or qualification under the securities laws of any such state or jurisdiction. Forward-Looking StatementsStatements made in this press release that look forward in time, including those relating to closing of the exchange transactions, are forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Such forward-looking statements reflect the views of management at the time such statements are made and are subject to a number of risks, uncertainties, estimates and assumptions that may cause actual results to differ materially from current expectations, including, but not limited to, the risk factors detailed in our Securities and Exchange Commission filings, including our Form 10-K for the year ended December 31, 2024, and our Form 10-Q for the quarter ended March 31, 2025. Artivion does not undertake to update its forward-looking statements, whether as a result of new information, future events, or otherwise. About Artivion, in suburban Atlanta, Georgia, Artivion, Inc. is a medical device company focused on developing simple, elegant solutions that address cardiac and vascular surgeons' most difficult challenges in treating patients with aortic diseases. Artivion's four major groups of products include: aortic stent grafts, surgical sealants, On-X mechanical heart valves, and implantable cardiac and vascular human tissues. Artivion markets and sells products in more than 100 countries worldwide. For additional information about Artivion, visit our website, Contacts: ArtivionGilmartin Group LLC Lance A. Berry Brian Johnston / Laine Morgan Executive Vice President &Phone: 332-895-3222 Chief Financial Officerinvestors@ Phone: 770-419-3355 View original content to download multimedia: SOURCE Artivion, Inc. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
19-05-2025
- Business
- Yahoo
AORT Q1 Earnings Call: Early Product Launches and Supply Recovery Drive Outperformance
Medical device company Artivion (NYSE:AORT) reported Q1 CY2025 results beating Wall Street's revenue expectations , with sales up 1.6% year on year to $98.98 million. The company's full-year revenue guidance of $429 million at the midpoint came in 1.2% above analysts' estimates. Its non-GAAP profit of $0.06 per share was $0.02 above analysts' consensus estimates. Is now the time to buy AORT? Find out in our full research report (it's free). Revenue: $98.98 million vs analyst estimates of $94.98 million (1.6% year-on-year growth, 4.2% beat) Adjusted EPS: $0.06 vs analyst estimates of $0.05 ($0.02 beat) Adjusted EBITDA: $17.55 million vs analyst estimates of $16.47 million (17.7% margin, 6.6% beat) The company slightly lifted its revenue guidance for the full year to $429 million at the midpoint from $427.5 million Operating Margin: 2.2%, down from 26% in the same quarter last year Free Cash Flow was -$20.59 million compared to -$9.1 million in the same quarter last year Sales Volumes rose 10.8% year on year (14.2% in the same quarter last year) Market Capitalization: $1.26 billion Artivion's first quarter was shaped by the rapid recovery from a previously disclosed cybersecurity incident and the early momentum of key product launches. CEO Pat Mackin highlighted that supply chain stabilization, particularly for On-X mechanical valves, and clearance of about a third of the tissue processing backlog enabled the company to surpass internal expectations. Management also pointed to double-digit revenue gains in its stent graft and On-X product lines, partially offset by ongoing softness in preservation services due to lingering supply constraints. Looking ahead, management's guidance reflects confidence in accelerating revenue and margin growth, supported by the ongoing U.S. launch of the AMDS device and anticipated recovery in tissue processing volumes. Mackin emphasized the potential for sustained double-digit growth and noted that product mix improvements—especially with AMDS and favorable On-X data—are expected to drive higher gross margins. CFO Lance Berry added that management expects free cash flow to turn positive as the year progresses, with incremental contributions from backlog resolution and new product adoption. Artivion's leadership attributed the quarter's results to faster-than-expected operational normalization, new clinical launches, and growth in select product segments. Key factors driving financial performance and expectations for the rest of the year included: Cybersecurity Incident Recovery: The company made significant progress on restoring operations after the supply chain disruption, clearing a third of the tissue processing backlog ahead of schedule and returning On-X manufacturing to normal levels earlier than anticipated. Stent Graft Expansion: Stent graft revenue grew 19% in constant currency, driven by cross-selling in Europe and initial U.S. uptake of the AMDS device, which received FDA Humanitarian Device Exemption (HDE) approval. Management noted that most current stent graft sales are outside the U.S., but the pipeline aims to expand into new geographies, including the U.S. and Japan. AMDS U.S. Launch: Early feedback from surgeons and adoption by around 150 facilities underscored strong demand, though onboarding varies due to regulatory steps at each hospital. Management expects sequential sales growth for AMDS throughout the year. On-X Valve Performance: On-X revenue rose 11% year-over-year, aided by normalization of supply and favorable clinical data showing improved mortality for patients under 60 compared to bioprosthetic valves. Management cited this as opening a $100 million U.S. market opportunity. Geographic Growth Drivers: Latin America and Asia Pacific posted revenue increases of 26% and 8%, respectively, as regulatory approvals and expanded commercial presence supported growth. Management expects these regions to remain important contributors going forward. Management expects accelerating growth in coming quarters as new product rollouts and backlog resolution offset lingering headwinds. The company's outlook is anchored in continued product adoption and operational recovery. AMDS and NEXUS Pipeline: Broader adoption of AMDS in the U.S. and anticipated approval of the NEXUS stent graft system are viewed as major future growth drivers, with management highlighting their combined $250 million annual U.S. market potential. Tissue Processing Recovery: Full normalization of tissue processing volumes is expected by the end of Q3, which management believes will restore mid-single digit growth in this segment for the full year. Margin Expansion Initiatives: Management pointed to product mix improvements, especially from AMDS and On-X, and SG&A leverage as key levers for adjusted EBITDA margin expansion. Risks cited include the pace of hospital onboarding and the timing of regulatory approvals. John McAulay (Stifel): Asked about the pace of AMDS adoption and whether all 150 facilities could be live by year-end; management stated onboarding is progressing well but timing depends on each hospital's processes. Frank Takkinen (Lake Street Capital): Inquired about surgeon training and the true U.S. market size for AMDS; management reported training has exceeded expectations and the market could expand beyond current estimates if clinical outcomes remain favorable. Mike Matson (Needham & Company): Questioned the timing and financing of the potential Endospan (NEXUS) acquisition; management said the option triggers upon FDA approval, with financing seen as manageable through improved EBITDA and cash flow. Daniel Stauder (Citizens JMP): Sought clarity on foreign exchange headwinds in guidance; management said currency impacts are now expected to be neutral for the year, with constant currency growth emphasized in projections. Jeffrey Cohen (Ladenburg Thalmann): Asked about APAC and Latin America contributions; management cited ongoing product approvals and commercial expansion as sustaining strong growth in both regions. In future quarters, the StockStory team will be watching (1) the pace at which AMDS gains hospital approvals and drives sequential revenue, (2) the resolution of the tissue processing backlog and resulting return to mid-single digit growth in that segment, and (3) continued progress toward U.S. approval for the NEXUS stent graft system. Execution against these milestones will be key for sustained double-digit growth and margin improvement. Artivion currently trades at a forward P/E ratio of 43.9×. In the wake of earnings, is it a buy or sell? See for yourself in our free research report. Market indices reached historic highs following Donald Trump's presidential victory in November 2024, but the outlook for 2025 is clouded by new trade policies that could impact business confidence and growth. While this has caused many investors to adopt a "fearful" wait-and-see approach, we're leaning into our best ideas that can grow regardless of the political or macroeconomic climate. Take advantage of Mr. Market by checking out our Top 6 Stocks for this week. This is a curated list of our High Quality stocks that have generated a market-beating return of 176% over the last five years. Stocks that made our list in 2020 include now familiar names such as Nvidia (+1,545% between March 2020 and March 2025) as well as under-the-radar businesses like the once-small-cap company Comfort Systems (+782% five-year return). Find your next big winner with StockStory today. 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Yahoo
05-05-2025
- Business
- Yahoo
Artivion's (NYSE:AORT) Q1: Strong Sales, Full-Year Outlook Slightly Exceeds Expectations
Medical device company Artivion (NYSE:AORT) reported Q1 CY2025 results beating Wall Street's revenue expectations , with sales up 1.6% year on year to $98.98 million. The company's full-year revenue guidance of $429 million at the midpoint came in 1.2% above analysts' estimates. Its non-GAAP profit of $0.06 per share was $0.02 above analysts' consensus estimates. Is now the time to buy Artivion? Find out in our full research report. Revenue: $98.98 million vs analyst estimates of $94.98 million (1.6% year-on-year growth, 4.2% beat) Adjusted EPS: $0.06 vs analyst estimates of $0.05 ($0.02 beat) Adjusted EBITDA: $17.55 million vs analyst estimates of $16.47 million (17.7% margin, 6.6% beat) The company slightly lifted its revenue guidance for the full year to $429 million at the midpoint from $427.5 million Operating Margin: 2.2%, down from 26% in the same quarter last year Free Cash Flow was -$20.59 million compared to -$9.10 million in the same quarter last year Market Capitalization: $995.9 million "I am pleased with our first quarter results as we returned to normal operations following our previously disclosed cybersecurity incident while making substantial progress on our strategic growth initiatives. As anticipated, our performance was driven by year-over-year growth in stent grafts of 14%, On-X of 10%, and BioGlue of 7%, all compared to the first quarter of 2024. On a constant currency basis, year-over-year stent grafts, On-X, and BioGlue grew 19%, 11% and 9%, respectively. Our strong product revenue growth of 14% on a constant currency basis was tempered by a 23% decrease in preservation services revenue due to the short-term backlog in tissue processing operations caused by the cybersecurity incident. We are pleased with our team's progress to date in returning to standard tissue processing times, as we outpaced our initial expectations enabling stronger than anticipated first quarter performance," said Pat Mackin, Chairman, President, and Chief Executive Officer. Formerly known as CryoLife until its 2022 rebranding, Artivion (NYSE:AORT) develops and manufactures medical devices and preserves human tissues used in cardiac and vascular surgical procedures for patients with aortic disease. A company's long-term sales performance can indicate its overall quality. Any business can have short-term success, but a top-tier one grows for years. Unfortunately, Artivion's 7.2% annualized revenue growth over the last five years was mediocre. This was below our standard for the healthcare sector and is a poor baseline for our analysis. We at StockStory place the most emphasis on long-term growth, but within healthcare, a half-decade historical view may miss recent innovations or disruptive industry trends. Artivion's annualized revenue growth of 10.4% over the last two years is above its five-year trend, suggesting some bright spots. This quarter, Artivion reported modest year-on-year revenue growth of 1.6% but beat Wall Street's estimates by 4.2%. Looking ahead, sell-side analysts expect revenue to grow 12.8% over the next 12 months, an improvement versus the last two years. This projection is commendable and implies its newer products and services will fuel better top-line performance. Software is eating the world and there is virtually no industry left that has been untouched by it. That drives increasing demand for tools helping software developers do their jobs, whether it be monitoring critical cloud infrastructure, integrating audio and video functionality, or ensuring smooth content streaming. Click here to access a free report on our 3 favorite stocks to play this generational megatrend. Operating margin is an important measure of profitability as it shows the portion of revenue left after accounting for all core expenses – everything from the cost of goods sold to advertising and wages. It's also useful for comparing profitability across companies with different levels of debt and tax rates because it excludes interest and taxes. Artivion was profitable over the last five years but held back by its large cost base. Its average operating margin of 3.9% was weak for a healthcare business. On the plus side, Artivion's operating margin rose by 2.1 percentage points over the last five years, as its sales growth gave it operating leverage. This performance was mostly driven by its recent improvements as the company's margin has increased by 3.8 percentage points on a two-year basis. This quarter, Artivion generated an operating profit margin of 2.2%, down 23.8 percentage points year on year. This contraction shows it was less efficient because its expenses grew faster than its revenue. We track the long-term change in earnings per share (EPS) for the same reason as long-term revenue growth. Compared to revenue, however, EPS highlights whether a company's growth is profitable. Artivion's EPS grew at an unimpressive 3% compounded annual growth rate over the last five years, lower than its 7.2% annualized revenue growth. However, its operating margin actually expanded during this time, telling us that non-fundamental factors such as interest expenses and taxes affected its ultimate earnings. We can take a deeper look into Artivion's earnings to better understand the drivers of its performance. A five-year view shows Artivion has diluted its shareholders, growing its share count by 12.9%. This dilution overshadowed its increased operating efficiency and has led to lower per share earnings. Taxes and interest expenses can also affect EPS but don't tell us as much about a company's fundamentals. In Q1, Artivion reported EPS at $0.06, in line with the same quarter last year. This print easily cleared analysts' estimates, and shareholders should be content with the results. Over the next 12 months, Wall Street expects Artivion's full-year EPS of $0.25 to grow 164%. We were impressed by how significantly Artivion blew past analysts' EPS expectations this quarter. We were also glad its revenue outperformed Wall Street's estimates. Zooming out, we think this was a solid print. The stock traded up 4.6% to $24.90 immediately following the results. Artivion put up rock-solid earnings, but one quarter doesn't necessarily make the stock a buy. Let's see if this is a good investment. When making that decision, it's important to consider its valuation, business qualities, as well as what has happened in the latest quarter. We cover that in our actionable full research report which you can read here, it's free. Sign in to access your portfolio
