Thursday, Edwards Lifesciences Corp. (EW) reported fourth-quarter net income of $47.6 million or $0.80 per share, compared to net income of $38.1 million or $0.66 per share in the same quarter last year.
Excluding special items, net income was $49.8 million or $0.84 per share, compared to net income of $45.2 million or $0.78 per share in the year ago quarter.
On average, 25 analysts polled by Thomson Reuters expected the company to earn $0.85 per share for the quarter. Analysts' estimates typically exclude special items.
Net sales for the quarter increased 11.9% to $346.7 million from $309.7 million in the comparable quarter last year. Analysts expected the company to report revenue of $342.95 million for the quarter.
Looking ahead to the first quarter, the company expects earnings in the range of $0.77 - $0.81 per share. Analysts currently anticipate the company to earn $0.82 per share for the quarter.
For the full year 2010, the company reaffirmed its prior guidance and expects total sales, excluding special items, in the range of $1.43 billion - $1.50 billion with earnings in the range of $3.50 - $3.60 per share. Analysts currently anticipate the company to earn $3.56 per share on revenue of $1.47 billion for the year.
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