Medical Device Link.

COVER STORY

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.

(click to enlarge) Share price for Edwards Lifesciences Corp. (NYSE: EW) from its inception in 2000 through November 2007.

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%.