Businessweek

Edwards Lifesciences Corp. approved the elections of Bob Ingram, Bill Link and Wes von Schack as directors of the company for a three year term. The company approved the amendment to the company's restated Certificate of Incorporation to declassify the board and also approved the amendment of the company's restated Certificate of Incorporation to eliminate the supermajority voting provision.

Edwards Lifesciences Corp. announced that Thomas M. Abate, the company's chief financial officer, plans to retire later in 2013. Abate, who turns 60 in August, plans to remain CFO until his successor is in place.

Annual meeting of stockholders

Edwards Lifesciences Corp. reported unaudited consolidated earnings results for the first quarter ended March 31, 2013. For the quarter, the company reported net sales of $496.7 million compared to $459.2 million a year ago. Income before provision for income taxes was $192.1 million compared to $85.6 million a year ago. Net income was $144.9 million or $1.24 per diluted share compared to $65.1 million or $0.55 per diluted share ago. On non-GAAP basis net income was $84.2 million or $0.72 per share compared to $62.8 million or $0.53 per share a year ago. Free cash flow for the quarter was $64.3 million, defined as cash flow from operating activities of $87.3 million, less capital spending of $23.0 million. Excluding the impact of the Medtronic receipt, free cash flow was $7.0 million. For the second quarter of 2013, the company expects sales of $500 million to $530 million, and diluted earnings per share, excluding special items, to be between $0.75 and $0.79. For full year 2013, the company now expects full year sales of $2.0 billion to $2.1 billion, and diluted earnings per share, excluding special items, of $3.00 to $3.10. The company continues to expect its underlying sales growth rate to improve throughout 2013, but now projects the full year result to be between 2 and 5%. The company now expect full year tax rate, excluding special items, to be at the low end of previous 23% to 24% range. For 2013, excluding special items, free cash flow to be between $270 million and $310 million.

Edwards Lifesciences Corp. Presents at Investment-In-Innovation (IN3) Medical Device 360 Degrees Dublin, Apr-17-2013 02:20 PM. Venue: The Shelbourne Dublin, Dublin, Ireland. Speakers: Amir Blumenfeld, MD, MHA, Director of Discovery.