Edwards Lifesciences: 2Q Earnings Snapshot
IRVINE, Calif. (AP) _ Edwards Lifesciences Corp. (EW) on Tuesday reported second-quarter net income of $242.3 million.
On a per-share basis, the Irvine, California-based company said it had profit of $1.14. Earnings, adjusted for non-recurring costs, came to $1.38 per share.
The results topped Wall Street expectations. The average estimate of 12 analysts surveyed by Zacks Investment Research was for earnings of $1.33 per share.
The medical device maker posted revenue of $1.09 billion in the period, which also beat Street forecasts. Nine analysts surveyed by Zacks expected $1.05 billion.
For the current quarter ending in October, Edwards Lifesciences expects its per-share earnings to range from $1.13 to $1.23.
The company said it expects revenue in the range of $1.02 billion to $1.06 billion for the fiscal third quarter.
Edwards Lifesciences expects full-year earnings in the range of $5.20 to $5.40 per share, with revenue ranging from $4 billion to $4.3 billion.
Edwards Lifesciences shares have increased 28% since the beginning of the year, while the Standard & Poor’s 500 index has climbed 20%. In the final minutes of trading on Tuesday, shares hit $195.54, a climb of 28% in the last 12 months.