(RTTNews) - Heart valve maker Edwards Lifesciences Corp. (EW: News ) Monday reported a jump in second quarter profit, as share gains across all regions drove double digit growth in heart valve therapy. Results also reflects a 2.4% increase in quarterly sales that breezed past Street estimates. Earnings also came in well above analysts expectation for the quarter. Citing strong results in the first half, the medical equipment maker said its now expects its second half to be much stronger than it expected earlier. However, the company's earnings forecast for the third quarter is short of current analysts' expectation.

For the second quarter, net income of Edwards rose to $47.5 million or $0.81 per share from $39.7 million or $0.67 per share from the same quarter a year ago.

Results for the quarter included a special charge of $1.5 million related to the pending hemofiltration product line divestiture. Excluding special items, second quarter net income was $46.4 million or $0.79 per share, up from $39.0 million or $0.66 per share in the prior-year quarter.

Earnings per shares rose 20.9% compared to a year ago, while adjusted earnings rose 19.7% from the year-earlier quarter.

On average, twenty-two analysts polled by Thomson Reuters expected earnings of $0.76 per share for the quarter. Analysts' estimates typically exclude one-time items.

Edwards' net sales for the quarter increased 2.4% to $335.5 million from $327.6 million in the corresponding quarter last year, exceeding Street estimates of $329.83 million.
Underlying sales growth was 9.8%, which primarily excludes an $18.4 million negative impact from foreign exchange and the divestiture of the LifeStent product line.

Michael Mussallem, Chief Executive Officer said, "With the continued adoption of our transcatheter heart valves, we remain confident that we will reach more than $100 million in sales outside of the U.S. this year. Additionally, we continue to make progress towards bringing this exciting technology to U.S. patients as we approach completion of our PARTNER trial enrollment."

In the sequentially preceding first quarter, Edwards reported a profit that tripled from the prior year to $60.5 million or $1.03 per share, on a quarterly sales that increased 5.6% to $313.5 million from the comparable quarter a year ago.

Amongst others in the industry, Hospira Inc. (HSP), a specialty pharmaceutical and medication delivery company, reported a more than two-fold rise in its first-quarter profit to $165.5 million or $1.03 per share, driven by an income tax gain from the settlement of a U.S. Sales, however, were down 3.3% at $859.7 million.

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