Edwards Lifesciences Corp. Q1 Profit Decreases, but beats estimates

(RTTNews) - Edwards Lifesciences Corp. (EW) released earnings for first quarter that decreased from the same period last year but beat the Street estimates.

The company's bottom line came in at $340.5 million, or $0.56 per share. This compares with $373.6 million, or $0.59 per share, in last year's first quarter.

Excluding items, Edwards Lifesciences Corp. reported adjusted earnings of $378.2 million or $0.62 per share for the period.

Analysts on average had expected the company to earn $0.61 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter rose 9.0% to $1.46 billion from $1.34 billion last year.

Edwards Lifesciences Corp. earnings at a glance (GAAP) :

-Earnings (Q1): $340.5 Mln. vs. $373.6 Mln. last year. -EPS (Q1): $0.56 vs. $0.59 last year. -Analyst Estimates: $0.61 -Revenue (Q1): $1.46 Bln vs. $1.34 Bln last year.

-Guidance: Next quarter EPS guidance: $0.62 to $0.68 Full year EPS guidance: $2.48 to $2.60