Edwards Lifesciences Corp. on Monday posted third-quarter financial results that beat analysts’ expectations.
The Irvine-based heart valve maker’s net income rose 4.6% to $29.1 million from a year earlier. Sales were up 5.7% to $261.4 million.
Edwards’ profits beat Wall Street’s estimate of $24.6 million, and its sales were also ahead of analysts’ concensus estimate of $256.3 million.
Heart valve therapy sales, Edwards’ core business, increased 4.7% to $122.8 million, including a $2.7 million gain from currency exchange rates.
In the second quarter, Edwards’ profit had dropped amid lower-than-expected heart valve sales, leading the company to cut its outlook for the year.
Chief Executive Michael Mussallem said in a release that the company’s critical care and vascular franchises “made a substantial contribution to overall growth.”
Edwards reiterated its full-year forecast of profit of $109.1 million to $121.4 million on sales of between $1.07 billion and $1.11 billion. Analysts expect Edwards to make $119.7 million on sales of $1.07 billion.
