Wednesday, April 20, 2011

Edwards Lifesciences Beats Estimates

Edwards Lifescience’s first-quarter earnings jumped 34%, driven by European growth in the transcatheter valve (TCV) market. Edwards saw its sales surge to $404.5 million, which surpassed the street’s estimate of $384 million. The company’s heart valve therapy segment, which includes TCV revenue, rose 25% to $244.9 million. The end result was reported earnings of $63.9 million, or $0.53 a share. Furthermore, management has raised its full-year earnings forecast, now expecting earnings between a range of $2.01 to $2.07 a share on $1.66 to $1.74 billion in revenue.


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