IRVINE, Calif. (AP) — IRVINE, Calif. (AP) — Edwards Lifesciences Corp. (EW) on Wednesday reported first-quarter profit of $340.5 million.
The Irvine, California-based company said it had net income of 56 cents per share. Earnings, adjusted for non-recurring costs and amortization costs, came to 62 cents per share.
The results exceeded Wall Street expectations. The average estimate of 12 analysts surveyed by Zacks Investment Research was for earnings of 61 cents per share.
The medical device maker posted revenue of $1.46 billion in the period, also exceeding Street forecasts. Eleven analysts surveyed by Zacks expected $1.39 billion.
For the current quarter ending in June, Edwards Lifesciences expects its per-share earnings to range from 62 cents to 68 cents.
The company said it expects revenue in the range of $1.48 billion to $1.56 billion for the fiscal second quarter.
Edwards Lifesciences expects full-year earnings in the range of $2.48 to $2.60 per share, with revenue ranging from $5.6 billion to $6 billion.
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