Edwards Lifesciences (NYSE:EW) can’t seem to get a break on Wall Street, where its share price slipped 3.4 percent today despite growth for its top and bottom lines.
The Irvine, Calif.-based heart valve maker missed The Street’s earnings forecast by a mere penny, but that was enough to send its shares down to a $67.79 close.
That despite reporting profits of $52 million, or 43 cents per diluted share, on sales of $413 million for the three months ended Sept. 30. That’s a bottom-line boost of 7.5 percent and a top-line increase of 18.3 percent compared with profits of $48 million, or 40 cents diluted EPS, on sales of $349 million during the same period last year.
Sign up to get our free newsletters delivered right to your inbox
Excluding special items adjusted EPS was 38 cents, "primarily driven by the expected U.S. Sapien launch investments and the impact of foreign exchange," according to a press release. Analysts were looking for adjusted EPS of 39 cents, according to MarketWatch.
"On our fourth anniversary of commercial sales outside the U.S., it is gratifying to see our transcatheter heart valves addressing the large unmet patient need and driving strong growth. And the FDA approval, which we expect any day, will allow Sapien to reach many inoperable patients in the U.S. suffering from severe aortic stenosis," chairman & CEO Michael Mussallem said in prepared remarks.
Mussallem said Edwards expects full-year sales to be between $1.68 billion and $1.72 billion, with adjusted EPS of 57 cents to 62 cents.
"While even a minor shift in timing of the U.S. approval of Sapien affects the fourth quarter earnings, the value to Edwards in 2012 and beyond remains compelling," he added.
MassDevice keeps a close eye on public medical device companies, tracking their quarterly sales and earnings reports. For the most recent filings, check out our Earnings Roundup, where we collect each quarter’s reports.
ICU Medical’s Q3 sales stay flat, profits tick up
ICU Medical Inc., (NSDQ:ICUI) posted profits of $9.3 million, or 65 cents oer diluted share, on sales of $76.5 million for the three months ended Sept. 30.
That compares with profits of $9.0 million, also 65 cents diluted EPS, on sales of $75.7 million during Q3 2010. Read more
Cantel Medical’s Q4, FY2011 sales & earnings rise
Cantel Medical (NYSE:CMN) posted sales and earnings increases for its fiscal fourth quarter and FY2011.
The Little Falls, N.J.-based medical device maker reported fourth-quarter profits of $4.7 million, or 27 cents EPS, on sales of $86.0 million during the three months ended July 31. That compares with profits of $4.6 million, also 27 cents EPS, on sales of $69.8 million during Q4 2010.
For the full year, Cantel reported profits of $20.4 million, or $1.18 EPS, on sales of $321.7 million. That compares with profits of $19.9 million, also $1.18 EPS, on sales of $274.0 million. Read more
Synergetics surges in Q4 but full-year profits dip
Synergetics USA Inc. (NSDQ:SURG) more than doubled its fourth-quarter profits, but a bottom-line increase for its full fiscal year eluded the O’Fallon, Mo.-based medical device maker.
Fourth-quarter net income was $2.0 million, or 8 cents EPS, on sales of $15.8 million for the three months ended July 31. That compares with profits of $1.0 million, or 4 cents EPS, on sales of $13.1 million during the same period last year.
For the full year, Synergetics logged profits of $5.6 million, or 23 cents EPS, on sales of $55.8 million, a bottom-line slip of 1.7 percent compared with profits of $5.7 million, also 23 cents EPS, on sales of $52.1 million. Read more
Leave a Reply
You must be logged in to post a comment.