Edwards net income jumps $10M in Q2 on strong heart valves sales

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Edwards Lifesciences, a developer of heart valves and hemodynamic monitoring, has reported net income for the quarter, which ended June 30, of $57.5 million, compared with net income of $47.5 million for the same period in 2009.

Its overall second quarter net sales increased 8.9 percent to $365.2 million, according to the Irvine, Calif.-based company. For the second quarter, Edwards reported heart valve therapy sales of $214.8 million, representing 18 percent growth over last year.

"This quarter was highlighted by … transcatheter heart valve sales, fueled by the recent launch of the Sapien XT valve in Europe," said Michael A. Mussallem, Edwards’ chairman and CEO. "In transcatheter heart valves, sales doubled versus the same quarter last year to $53.2 million.

"Our surgical heart valve sales grew 5.5 percent on an underlying basis, led by the continued global adoption of our Magna Ease heart valves and Physio II repair rings. Sales in Japan were strong, while sales in the U.S. and Europe were consistent with the first quarter," said Mussallem.

For its other units, the sales were:

  • Critical care sales were $110.5 million for the quarter, a decline from $113 million in the same quarter last year primarily due to the previously divested hemofiltration product line.
  • Cardiac surgery systems sales for the quarter were $26.5 million, representing 10 percent growth over last year.
  • Vascular sales were $13.4 million, a decline from $16.3 million in the same quarter last year due to the divestiture of the LifeStent product line.

Based on the current report, Mussallem noted that the company is “raising our full year transcatheter heart valve sales guidance to between $190 and $205 million."