Edwards Lifesciences Corp.
The Irvine maker of products to treat cardiovascular disease said it earned $12 million, or 20 cents a share, in the second quarter, its first three-month period since being spun off from medical device maker Baxter International. For the second quarter last year, pro forma income totaled $13.7 million, or 24 cents a share.
The income for the recent quarter excluded pretax charges of $362 million related to the write-down of goodwill and other assets, plus other costs such as spin-off expenses.
Sales were down 3% to $204.6 million.
The company said it is convinced it can achieve its operating and financial goals and expects to report much stronger results in the second half.
The stock closed at $23.13 a share, up 31 cents, on the New York Stock Exchange.
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