Irvine heart valve maker Edwards Lifesciences Corp. on Tuesday posted a fourth-quarter profit that topped Wall Street’s expectations.
Edwards said it earned $45.2 million in the quarter, excluding charges, up 34% from a year earlier.
Analysts expected Edwards to see $44.1 million in profits.
The device maker’s profit after charges was $38.1 million, more than double a year earlier.
Sales rose 6% to $307.9 million but fell below analysts’ expectations of $312.3 million.
A previously announced product retrieval of a pair of mitral valve repair products reduced sales by $5 million, according to the company.
Edwards also gave its profit outlook for the first quarter.
The device maker said it expects to make a profit of $38.3 million to $40.6 million in the quarter.
Wall Street predicts Edwards will make $40 million in the first quarter.
The company didn’t give a first-quarter revenue outlook but forecast 2009 sales in line with expectations at $1.24 to $1.3 billion.
