Irvine-based Edwards Lifesciences Corp. today reported first-quarter financial results that beat Wall Street’s expectations.
The cardiovascular device maker posted a profit of $63.9 million, unchanged from last year’s first quarter and surpassing analysts’ consensus estimates of $56.6 million. Including special items, Edwards’ profit was $65.1 million.
Quarterly revenue grew 14% to $459.2 million, compared to analysts’ projection of $449.5 million.
The device maker also gave forecasts for the current quarter and 2012.
It could see a profit of $75.5 million to $80.2 million in the quarter, excluding items, surpassing consensus expectations of $70.8 million.
Edwards said it expected second-quarter sales of $470 million to $500 million.
For 2012, Edwards could see a profit of $304.4 million to $316.2 million, compared with Wall Street estimates of $315.1 million.
The company said it now expects full-year sales at the low end of its original estimate of $1.95 billion to $2.05 billion. Analysts project Edwards’ sales to come in at $1.95 billion.
