Edwards Lifesciences, a provider in products and technologies to treat cardiovascular disease, has reported net income of $47.5 million for the second quarter that ended June 30, compared with net income of $39.7 million for the same period in 2008.
Second quarter net sales increased 2.4 percent to $335.5 million, according to the Irvine, Calif.-based company. For the second quarter, the company booked $182.1 million for its heart valve therapy sales, which includes the Sapien transcatheter valve, compared with $162.6 million in the year-ago quarter.
"Our heart valve therapy sales growth was driven primarily by our Edwards Sapien transcatheter valve, which grew to $26.5 million in the quarter. Based on our current performance and foreign exchange rates, we are increasing the midpoint of our prior heart valve therapy sales guidance for 2009 by $25 million to $690 to $710 million," said Michael A. Mussallem, Edwards' chairman and CEO.
Edwards said that its cardiac surgery systems sales for the quarter were $24.1 million, compared with $23.5 million in the 2008 second quarter. Its vascular sales were $16.3 million, a decline of 8.6 percent from $24.9 million in the same quarter last year due primarily to the divestiture of the LifeStent product line.
"Overall, we have had a very successful first six months, and are expecting a strong second half of the year. Our underlying sales growth estimate of 10 to 12 percent for 2009 remains unchanged," Mussallem said.