Edwards Lifesciences posts Q4, 2012 gains, confirms guidance

February 4, 2013 by MassDevice staff

Profits for Edwards Lifesciences grew at strong double-digit clips during the 4th quarter and 2012 as the medical device company confirms its outlook for 2013.

Edwards Lifesciences

Edwards Lifesciences (NYSE:EW) handily beat Wall Street's expectations for its 4th-quarter and 2012 profits and confirmed its outlook for 2013 today after the market's close.

The Irvine, Calif.-based medical device company reported profits of $91.1 million, or 77¢ per share, on sales of $510.5 million for the 3 months ended Dec. 31, 2012, for a bottom-line gain of 44.4% and top-line growth of 18.7% compared with Q4 2011.

Adjusted to exclude 1-time items, earnings per share reached 90¢, well above the 77¢ expected on The Street.

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For the full year, Edwards recorded profits of $293.2 million, or $2.48 per share, on sales of $1.90 billion, for a bottom-line gain of 23.9% and top-line growth of 13.2% compared with 2011. Adjusted EPS were $2.69, again besting the boffins on The Street, who were looking for adjusted EPS of $2.55.