This year's featured leaders illustrate medtech's ability to adapt and thrive in an ever-changing business environment.
January 1, 2008
COVER STORY
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Edwards Lifesciences Corp. (Irvine, CA) has experienced steady financial growth in recent years. Since 2002, the company's share price has more than doubled to its current value of about $49. Such appreciation has enabled the company to garner continued investor interest, despite the fact that the company does not pay dividends.
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For the third quarter of 2007, the company reported net income of $29.1 million on sales of $261.4 million, compared with net income of $27.8 million on sales of $247.4 million in the year-ago period. For full-year 2007, the company expected to report total sales of between $1.07 and $1.11 billion as of December 7, 2007. The company's heart valve therapy business was expected to lead sales with between $510 million to $520 million, and the company's critical-care business was expected to contribute another $385 million to $395 million in 2007 revenues. The company also expected between $55 million and $60 million in cardiac surgery systems sales, as well as between $85 million and $95 million in vascular sales.
In 2008, Edwards expects sales of between $1.16 billion and $1.21 billion, with expected earnings-per-share growth of between 11 and 14%.
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