Edwards Lifesciences Q4 Results Top Estimates; Boosts FY15 Earnings Outlook

(RTTNews) - Edwards Lifesciences Corp. (EW) reported net income for the fourth quarter of $109.2 million or $1.00 per share, compared to $75.1 million or $0.68 per share for the year-ago quarter.

Excluding items, adjusted net income for the fourth quarter was $116.5 million or $1.06 per share, compared to $105.0 million or $0.95 per share in thee prior year quarter.

Net sales for the fourth quarter rose 15% to $618.0 million from $536.0 million last year.

Analysts polled by Thomson Reuters expected the company to earn $0.95 per share on revenue of $610.64 million for the fourth quarter, Analysts' estimates typically exclude special items.

Looking forward to the first quarter, the company forecasts total sales to be between $570 million and $610 million, and adjusted earnings per share to be between $1.02 and $1.10. Analysts currently expect the company to earn $0.92 per share on revenue of $580.64 million for the first quarter.

Edwards expects full year 2015 reported sales to be at the lower end of its previously provided $2.3 to $2.5 billion guidance range. Given the momentum in transcatheter heart valve sales, the company raised its full year 2015 adjusted earnings guidance to a range of $4.00 to $4.30 per share from its prior guidance of $3.90 to $4.10 per share.

Analysts currently expect the company to earn $4.03 per share on revenue of $2.42 billion for the full year 2015.