Last $102.83 USD
Change Today +0.37 / 0.36%
Volume 80.0K
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As of 10:18 AM 09/18/14 All times are local (Market data is delayed by at least 15 minutes).

edwards lifesciences corp (EW) Key Developments

Novation Enters into First Sole-Source Heart Valve Agreement with Edwards Lifesciences

Novation and Edwards Lifesciences Corporation announced they have entered into a three-year, sole-source strategic relationship that provides heart valve therapies to the more than 100,000 members and affiliates of VHA, UHC, Children's Hospital Association and Provista. The new agreement with Edwards for its heart valve product portfolio enables Novation to enter the heart valve category for the first time, and expands on the previous relationship between the companies for critical care technologies.

Edwards Lifesciences Corporation Reports Unaudited Consolidated Earnings Results for the Second Quarter and Six Months Ended June 30, 2014; Provides Earnings Guidance for the Third Quarter of 2014 and Full Year 2014; Appoints Martyn Thomas as Vice President of Medical Affairs for Transcatheter Heart Valves

Edwards Lifesciences Corporation reported unaudited consolidated earnings results for the second quarter and six months ended June 30, 2014. For the quarter, the company reported net income for the quarter ended June 30, 2014 of $547.0 million, or $5.09 per diluted share, and non-GAAP net income of $94.0 million, or $0.88 per diluted share, compared to net income for the same period a year earlier of $93.3 million, or $0.81 per diluted share, and non-GAAP net income was $96.7 million, or $0.84 per diluted share. Net sales for the quarter ended June 30, 2014 increased 11.2% to $575.1 million compared to $517.2 million for the same period last year. Underlying sales grew 10.5%. U.S. and international segment sales for the second quarter were $242.0 million and $333.1 million, respectively. Income before provision for income taxes was $813.2 million against $120.5 million a year ago. Net cash provided by operating activities was $778.0 million against $128.1 million a year ago. Capital expenditures were $16.0 million against $29.5 million a year ago. Non-GAAP free cash flow was $73.4 million against $98.6 million a year ago. For the six months, the company reported net income for the six months ended June 30, 2014 of $607.3 million, or $5.63 per diluted share, and non-GAAP net income of $176.1 million, or $1.63 per diluted share, compared to net income for the same period a year earlier of $237.2 million, or $2.05 per diluted share, and non-GAAP net income was $183.4 million, or $1.59 per diluted share. Net sales for the first six months of 2014 increased 8.2% to $1,097.5 million, compared to $1,013.9 million a year ago. Sales growth was 9.2% on an underlying basis. Income before provision for income taxes was $890.5 million against $311.1 million a year ago. Net cash provided by operating activities was $916.9 million against $229.2 million a year ago. Capital expenditures were $30.3 million against $66.3 million a year ago. Non-GAAP free cash flow was $198.0 million against $105.6 million a year ago. The company provided earnings guidance for the third quarter of 2014 and full year 2014. For the third quarter of 2014, the company expects total sales to be between $530 million and $570 million, and diluted earnings per share, excluding special items, to be between $0.66 and $0.72. For the full year, the company now expects full year 2014 total sales at the high end of its previous $2.05 billion to $2.25 billion range. The company also raised its guidance for full year 2014 diluted earnings per share, excluding special items, to a range of $3.24 to $3.34. The company is confident in its outlook for continued strong organic sales growth, reflecting its focused innovation strategy, and its commitment to helping patients. The company also announced that it has appointed Dr. Martyn Thomas to the newly created position of vice president of medical affairs for transcatheter heart valves. He is currently the clinical director of cardiovascular services at St. Thomas' Hospital in London and a global leader in transcatheter heart valve research.

Edwards Lifesciences Mulls Acquisitions

Edwards Lifesciences Corp. (NYSE:EW) is looking for acquisitions. Mike Mussallem, Chief Executive Officer of Edwards Lifesciences said, "We remain open to considering acquisitions to supplement our existing portfolio".

Edwards Lifesciences Corp. to Report Q2, 2014 Results on Jul 29, 2014

Edwards Lifesciences Corp. announced that they will report Q2, 2014 results at 5:00 PM, Eastern Standard Time on Jul 29, 2014

Edwards Lifesciences Corp., Q2 2014 Earnings Call, Jul 29, 2014

Edwards Lifesciences Corp., Q2 2014 Earnings Call, Jul 29, 2014

 

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