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Edwards Lifesciences: 2Q Earnings Snapshot

IRVINE, Calif. (AP) _ Edwards Lifesciences Corp. (EW) on Thursday reported second-quarter profit of $282.7 million.

On a per-share basis, the Irvine, California-based company said it had net income of $1.32. Earnings, adjusted for non-recurring gains, were $1.24 per share.

The results surpassed Wall Street expectations. The average estimate of 12 analysts surveyed by Zacks Investment Research was for earnings of $1.13 per share.

The medical device maker posted revenue of $943.7 million in the period, which missed Street forecasts. Nine analysts surveyed by Zacks expected $964.7 million.

For the current quarter ending in October, Edwards Lifesciences expects its per-share earnings to range from 93 cents to $1.03.

The company said it expects revenue in the range of $900 million to $950 million for the fiscal third quarter.

Edwards Lifesciences expects full-year earnings in the range of $4.60 to $4.75 per share, with revenue ranging from $3.5 billion to $3.9 billion.

Edwards Lifesciences shares have risen 38 percent since the beginning of the year, while the Standard & Poor's 500 index has increased 6 percent. In the final minutes of trading on Thursday, shares hit $155.02, an increase of 34 percent in the last 12 months.


This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on EW at https://www.zacks.com/ap/EW