Feb 3 Medical device maker Edwards Lifesciences
Corp said on Monday that fourth-quarter net earnings
declined from a year ago due to restructuring charges and costs
for launching its next-generation replacement heart valves.
Excluding special items, earnings topped analysts'
expectations on stronger sales of its transcatheter heart valves
that are implanted in a less-invasive procedure than traditional
The medical device maker said net income fell to $75.8
million, or 68 cents a share, from $91.1 million, or 77 cents a
share, a year earlier.
Excluding special items, Edwards earned 91 cents a share.
Fourth-quarter net sales rose 5 percent to $536 million.
Sales of transcatheter heart valves, which are threaded into
place with a catheter through the arteries, climbed 14.2 percent
to $183.9 million.
Edwards said it still expects 2014 earnings, excluding
items, in a wide range around $3.00 per share, on sales of $2.05
billion to $2.25 billion.