Edwards Lifesciences Q1 Results Top Estimates

(RTTNews) - Edwards Lifesciences Corp. (EW) reported net income for the first quarter of $123.4 million or $1.12 per share, compared to $60.3 million or $0.56 per share for the year-ago quarter.

Net sales for the first quarter quarter rose 13% to $590.3 million from $522.4 million a year ago.

Analysts polled by Thomson Reuters expected the company to earn $1.04 per share on revenue of $584.79 million for the first quarter. Analysts' estimates typically exclude special items.

Looking forward to second quarter, the company forecasts total sales of $580 million to $620 million and adjusted earnings of $1.00 to $1.10 per share. Analysts currently expect the company to earn $1.05 per share on revenue of $604.26 million for the second quarter.

The company now expects full year 2015 total sales to be within its original guidance of $2.3 billion to $2.5 billion. However, the company narrowed its full year 2015 adjusted earnings per share guidance to a range of $4.10 to $4.30 from its previous range of $4.00 to $4.30. Analysts currently expect the company to earn $4.21 per share on revenue of $2.40 billion for the full year 2015.