Edwards Lifesciences Q2 Results Top Estimate

(RTTNews) - Edwards Lifesciences Corp. (EW) reported net income for the second quarter of $112.7 million or $1.02 per share, compared to $547.0 million or $5.09 per share for the year-ago quarter.

Excluding items, adjusted net income for the second quarter was $124.4 million or $1.13 per share, compared to $94.0 million or $0.88 per share in the prior year quarter.

Net sales for the second quarter rose to $616.8 million from $575.1 million a year ago.

Analysts polled by Thomson Reuters expected the company to earn $1.05 per share on revenue of $604.97 million for the second quarter. Analysts' estimates typically exclude special items.

Looking forward to the third quarter, the company forecasts total sales of $580 million to $620 million and adjusted earnings of $0.92 and $1.00 per share. Analysts currently expect the company to earn $0.98 per share on revenue of $587.06 million for the third quarter.

The company said it continues to expect full year 2015 total sales of $2.3 billion to $2.5 billion, but raised its full year adjusted earnings outlook to a range of $4.30 to $4.40 per share from its prior outlook of $4.10 to $4.30 per share.

Analysts currently expect the company to earn $4.28 per share on revenue of $2.41 billion for the full year 2015.