Edwards Lifesciences (EW) Tops Q2 EPS by 2c, Guides Above for FY08 Revenues

July 22, 2008 4:11 PM EDT

Edwards Lifesciences (NYSE: EW) reports Q2 EPS of $0.66 (ex-items), 2 cents better than the analyst estimate of $0.64. Revenues for the quarter were $327.6 million, versus the consensus of $311.93 million.

Edwards is raising the midpoint of its 2008 sales guidance by $25 million to between $1.24 billion and $1.28 billion. This revised range reflects strength across all product lines. (Consensus is $1.23 billion)

"We estimate that third quarter 2008 diluted EPS will be between $0.53 and $0.57. We are increasing our full year estimate by $0.05, to between $2.50 and $2.58 per diluted share, excluding special items, which represents a 2008 growth rate of approximately 20%." (Q3 EPS consensus is $0.56 and FY08 EPS consensus is $2.50)

Edwards Lifesciences Corporation provides products and technologies designed to treat cardiovascular diseases.

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