Halyard Health releases second quarter financial results

Halyard Health recently announced its financial results for the second quarter of 2015.

Items of note from the report were decreases in net sales, constant currency-based net sales, year-to-date net sales, constant currency-based net sales and adjusted net income from the same period in 2014. A decline was also noted at the half-year mark in net income ($30 million) vs. the first half-year of 2014 ($37 million).

Halyard reported a rise in net income to $8 million compared with a net loss of $5 million in the second quarter of 2014. Second quarter diluted earnings per share ($0.17) grew from the same period in 2014 ($0.10), whereas adjusted diluted earnings per share shrank to $0.52 in Q2 2015 from $1.06 in Q2 2014.

“Despite the soft first-half results and near-term focus areas in our S&IP [surgical and infection prevention] business, we remain well-positioned to execute our long-term strategy of transitioning our portfolio to higher-growth medical devices,” Robert Abernathy, chairman and CEO of Halyard Health, said in the release. “We acknowledge the demands facing S&IP and are focused on generating better topline results in the near term. Our long-term outlook remains positive as we expect continued strong performance from medical devices. In addition, our solid balance sheet gives us the flexibility we need to reinvest in the business, pursue acquisitions and deliver growth to shareholders.”

Reference: www.halyardhealth.com.