Edwards Lifesciences expects profit growth in 2010

AP News
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Posted: Dec 10, 2009 11:45 AM

Heart device maker Edwards Lifesciences Corp. said Thursday it expects a sales boost from new and current products to drive double-digit earnings growth in 2010.

The company said it expects profit between $3.50 and $3.60 per share on revenue between $1.43 billion and $1.5 billion in 2010. The outlook represents up to 18 percent growth in earnings per share.

Analysts polled by Thomson Reuters expect $3.53 per share in profit on $1.42 billion in revenue in 2010.

The company said it expects to launch its new Sapien XT transcatheter valve in Europe during the first quarter. Meanwhile, it said recent product launches have been driving surgical valve sales and the momentum is expected to continue into 2010.

Shares of Edwards Lifesciences rose $3.34, or 4 percent, to $86.42 in morning trading. Earlier, the stock reached $86.63, an all-time high.