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Edwards profit tops expectations on soaring heart valve sales

April 25 Edwards Lifesciences Corp on Tuesday reported higher-than expected first-quarter profit and revenue on surging sales of transcatheter heart valve replacements, and raised its full-year earnings forecast to reflect the strong start to the year.

The California-based company now expects 2017 adjusted earnings of $3.43 to $3.55 per share, up from its prior view of $3.30 to $3.45. Edwards also raised the low end of its revenue forecast to $3.2 billion from $3.0 billion, leaving the high end untouched at $3.4 billion.

Net first-quarter profit rose to $230.2 million, or $1.06 per share, from a profit of $143 million, or 66 cents a share, a year earlier.

Excluding special items, Edwards said it had adjusted earnings of 94 cents per share. Analysts on average expected 82 cents, according to Thomson Reuters I/B/E/S. (Reporting by Bill Berkrot; Editing by Paul Simao)

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