Edwards lifts on Q4, FY2015 beats

Edwards Lifesciences (NYSE:EW) today saw shares rise in after hours trading after it released its 4th quarter and full fiscal year 2015 earnings, beating the street across the board even as earnings shrunk from 2014.

The Irvine, Calif.-based company reported profits of $140.7 million, or 65¢ per share, on sales of $671.1 million for the 3 months ended December 31. That amounts to a 28.8% bottom-line gain as sales grew 8.6% compared with the same period in 2014.

Adjusted to exclude 1-time items, earnings per share were 63¢ for the quarter. Analysts on Wall Street were looking for an adjusted EPS just 1¢ lower, at 62¢. Revenue expectations for the quarter were $648.7 million, which the company handily topped.

For the full fiscal year, Edwards reported profits of $494.9 million, or $2.30 per share, on sales of $2.49 billion for the past fiscal year ended December 31. The company saw profits shrink 39% while sales grew 7.4% as compared to the same period last year.

After adjusting to include 1-time items, Edwards saw profits grow 33%, from $379.6 million in 2014 to $504.9 in 2015. Adjusted earnings per share clocked in at $2.29, 30.9% up from last year and 2¢ above the Street’s expectations.

Edwards saw a bit of a jump in after hours trading after posting the earnings, rising 5.1% to trade at $80.80 as of 5:45 p.m. EST.

“We are very pleased to report strong 4th quarter results, which exceeded our expectations and contributed to another successful year, both in financial performance and progress on important new therapies. These positive results were due to continued demand for transcatheter aortic valve replacement therapy, and the strong performance of all product lines this quarter.  We were also pleased to receive FDA approval for our Partner 3 trial to study patients determined to be at low surgical risk, which may eventually enable heart teams to offer a choice of therapies to a broader group of patients,” CEO Michael Mussallem said in a press release.

The post Edwards lifts on Q4, FY2015 beats appeared first on MassDevice.

from MassDevice http://ift.tt/1QZlNDP