Edwards profit up on strong sales of new heart valve

Mon Feb 4, 2013 4:10pm EST

Feb 4 (Reuters) - Edwards Lifesciences Corp posted on Monday higher fourth-quarter earnings on strong sales of its artificial heart valve that is implanted in a less-invasive procedure than open-heart surgery.

Net income rose to $91.1 million, or 77 cents per share, from $63.1 million, or 53 cents per share, a year ago.

Excluding special items, the Irvine, California-based medical device maker reported a profit of 90 cents per share, compared with 62 cent per share, a year ago.

Fourth-quarter net sales increased 18.7 percent to $510.5 million. Sales of the company's less-invasive transcatheter heart valves climbed 72.8 percent in the quarter, to $161 million, driven by the ongoing U.S. launch of the Sapien brand valve. U.S. transcatheter valve sales were $80.7 million.

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