Reuters: Hot Stocks: UPDATE 1-Edwards profit tops estimates, boosted by heart valve sales

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UPDATE 1-Edwards profit tops estimates, boosted by heart valve sales Oct 28th 2013, 13:34 Share this Email Print Reprints Mon Oct 28, 2013 9:34am EDT (Adds earnings details of sales, outlook, share movement) Oct 28 (Reuters) - Edwards Lifesciences Corp on Monday reported higher-than-expected quarterly earnings as it benefited from strong sales of artificial heart valves that are implanted without major invasive surgery. Third-quarter net income rose to $77 million, or 68 cents per share, from $69 million, or 58 cents per share, a year earlier. Analysts on average had expected a profit of 66 cents per share, according to Thomson Reuters I/B/E/S. Sales rose 11 percent to $496 million. Sales of transcatheter heart valves, which are threaded into place through an artery via a catheter, climbed 39 percent to $172 million. Edwards confirmed its full-year outlook for earnings of $3.00 to $3.10 per share, excluding special items, on sales of $2.0 billion to $2.1 billion. Shares of Edwards fell 5.3 percent to $73.01 in early trading. (Reporting by Susan Kelly in Chicago; Editing by Gerald E. McCormick and Lisa Von Ahn) Link this Share this Digg this Email Reprints

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