Edwards Lifesciences Q3 Profit Rises; Raises Full Year Guidance - Quick Facts

(RTTNews) - Edwards Lifesciences Corp. (EW) reported third-quarter net income of $94.6 million, or $0.87 per share, compared to $76.8 million, or $0.68 per share, last year. Non-GAAP net income was $87.0 million, or $0.80 per share, for the quarter.

On average, 21 analysts polled by Thomson Reuters expected the company to report profit per share of $0.73 for the quarter. Analysts' estimates typically exclude special items.

Net sales increased 22.6 percent to $607.4 million compared to the same period last year. Underlying sales grew 18.9 percent. Analysts expected revenue of $546.32 million for the quarter.

The company now expects full year 2014 total sales to exceed the high end of its previous $2.05 billion to $2.25 billion range. The company also raised its guidance for full year 2014 earnings per share, excluding special items, to a range of $3.33 to $3.39. Analysts expect the company to report full year earnings per share of $3.30 on revenue of $2.24 billion.

For the fourth quarter of 2014, the company projects total sales to be between $575 million and $615 million, and earnings per share, excluding special items, to be between $0.89 and $0.95. Analysts expect the company to report fourth-quarter earnings per share of $0.95 on revenue of $586.91 million.