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Q2 profits surge for Edwards Lifesciences

Thu, 07/25/2013 - 4:31pm
Mass Device

Edwards Lifesciences reports a nearly 40% surge in 2nd-quarter profits on upper-single-digit sales growth.

Q2 profits surge for Edwards Lifesciences

Edwards Lifesciences (NYSE:EW) posted surging 2nd-quarter profits on modest sales growth, saying sales of its flagship Sapien heart valve reached $90 million for the quarter.

The Irvine, Calif.-based medical device company reported profits of $94.1 million, or 82¢ per share, on sales of $517.2 million for the 3 months ended June 30, for a 38.8% bottom-line gain and 7.3% sales growth.

The earnings per share number bested Wall Street analysts' consensus forecast by 6¢, adjusted to exclude 1-time items.

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