Irvine-based Edwards Lifesciences Corp. after markets closed Tuesday reported fourth-quarter financial results that beat expectations.
The heart valve maker said it posted a profit of $109.2 million, up 45% from 2013’s fourth quarter and topping analysts’ estimates of $104.2 million.
Edwards’ fourth-quarter sales rose 15% to $618 million, compared to Wall Street forecasts of $611 million.
For 2014, Edwards posted a profit of $811.1 million on a 14% sales increase to $2.3 billion.
Edwards also offered an outlook for 2015. It could see a profit of $434 million to $466.6 million, excluding special items, based on a Business Journal extrapolation.
The company said it expected its full-year 2015 sales to be at the lower end of a previously provided $2.3 billion to $2.5 billion range because of a $160 million negative impact to 2015 reported sales based on current foreign exchange rates.
After closing up 1.2% Tuesday and another 2.4% in after-hours trading, the device maker’s shares rose in midday trading Wednesday to a market value of $14.5 billion.
