UPDATE 1-Edwards profit tops estimates, boosted by heart valve sales

Monday, 28 Oct 2013 | 9:34 AM ET

(Adds earnings details of sales, outlook, share movement)

Oct 28 (Reuters) - Edwards Lifesciences Corp on Monday reported higher-than-expected quarterly earnings as it benefited from strong sales of artificial heart valves that are implanted without major invasive surgery.

Third-quarter net income rose to $77 million, or 68 cents per share, from $69 million, or 58 cents per share, a year earlier.

Analysts on average had expected a profit of 66 cents per share, according to Thomson Reuters I/B/E/S.

Sales rose 11 percent to $496 million.

Sales of transcatheter heart valves, which are threaded into place through an artery via a catheter, climbed 39 percent to $172 million.

Edwards confirmed its full-year outlook for earnings of $3.00 to $3.10 per share, excluding special items, on sales of $2.0 billion to $2.1 billion.

Shares of Edwards fell 5.3 percent to $73.01 in early trading.

(Reporting by Susan Kelly in Chicago; Editing by Gerald E. McCormick and Lisa Von Ahn)

  Price   Change %Change