WASHINGTON (dpa-AFX) - Edwards Lifesciences Corp. (EW) reported net income for the second quarter of $547.0 million or $5.09 per share, compared to $93.3 million or $0.81 per share for the year-ago quarter.
The latest quarter results include a special net pre-tax gain of $747.4 million related to the previously announced global litigation settlement.
Excluding items, adjusted net income for the second quarter was $94.0 million or $0.88 per share, compared to $96.7 million or $0.84 per share in the prior year quarter.
Net sales for the second quarter rose 11.2% to $575.1 million from $517.2 million a year ago.
Analysts polled by Thomson Reuters expected the company to earn $0.77 per share on revenue of $544.31 million for the second quarter.
Looking forward to the third quarter, the company forecasts total sales of $530 million to $570 million and adjusted earnings of $0.66 to $0.72 per share. Analysts currently expect the company to earn $0.74 per share on revenue of $527.17 million for the third quarter.
The company said it now expects full year 2014 total sales at the high end of its previous $2.05 billion to $2.25 billion guidance range. The company also raised its full year 2014 adjusted earnings outlook to a range of $3.24 to $3.34 per share from its prior outlook of $3.10 per share. Analysts currently expect the company to earn $3.19 per share on revenue of $2.17 billion for the full year 2014.
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