Edwards Lifesciences Boosts Full-Year Profit Outlook

Health Care Reuters

Edwards Lifesciences Corp raised its full-year earnings forecast on Tuesday, anticipating stronger sales of its artificial heart valves implanted in a minimally invasive procedure that spares patients from open-chest surgery.

Continue Reading Below

Edwards Lifesciences shares were up 5 percent in after-hours trading.

Sales of the devices, known as transcatheter heart valves, climbed 25 percent in the most recent quarter.

Fourth-quarter net income rose to $140.7 million, or 64 cents a share, from $109.2 million, or 50 cents a share, a year ago.

Overall sales increased 8.6 percent to $671.1 million. Edwards said the strong U.S. dollar continued to have a significant negative effect on reported sales. Excluding the foreign exchange impact, sales would have risen 15.1 percent.

The Irvine, California-based company said it now expects full-year earnings, excluding items, in a range of $2.57 to $2.67 a share. It previously forecast 2016 earnings at $2.30 to $2.40 a share.

Continue Reading Below

Edwards expects total sales in 2016 to be between $2.6 billion and $2.85 billion. (Reporting by Susan Kelly in Chicago; Editing by Lisa Shumaker and Matthew Lewis)