Edwards Lifesciences Corp. said Thursday that it expects a larger profit in 2009 on slower sales growth.
The Irvine heart valve maker said it sees its earnings next year to come in at $163.8 million to $169.4 million, up 15% to 19% from this year’s expectations.
Sales, on the other hand, are expected to be flat or slightly higher at $1.24 billion to $1.33 billion.
Edwards said the stronger dollar’s effect on overseas sales and the previous sale of its LifeStent business would hamper revenue growth.
Analysts expect Edwards to make $163.8 million on sales of $1.25 billion in 2009.
For 2008, Edwards has said it expects full-year profit of $141.7 million to $145.1 million on sales of $1.24 billion to $1.28 billion.
Wall Street expects Edwards to make $142 million on sales of $1.25 billion.
Edwards said it expected its core heart valve sales to grow 14% to 16% to $587.1 million to $597.4 million in revenue, including $75 million to $95 million for its Sapien less-invasive heart valve, which is being sold in Europe and is in U.S. clinical trials.
The company also received an approvable letter from the Food and Drug Administration for its LifeStent device for treating blood vessel disease and a $23 million milestone payment from C.R. Bard Inc. of Murray Hill, N.J. Edwards sold LifeStent to Bard in January for $140 million.
