IRVINE, Calif. (AP) _ Edwards Lifesciences Corp. (EW) on Tuesday reported first-quarter net income of $338.2 million.

On a per-share basis, the Irvine, California-based company said it had net income of 54 cents.

The results surpassed Wall Street expectations. The average estimate of 12 analysts surveyed by Zacks Investment Research was for earnings of 47 cents per share.

The medical device maker posted revenue of $1.22 billion in the period, also topping Street forecasts. Nine analysts surveyed by Zacks expected $1.16 billion.

For the current quarter ending in July, Edwards Lifesciences expects its per-share earnings to range from 54 cents to 60 cents.

The company said it expects revenue in the range of $1.25 billion to $1.33 billion for the fiscal second quarter.

Edwards Lifesciences expects full-year earnings in the range of $2.07 to $2.27 per share, with revenue ranging from $4.9 billion to $5.3 billion.

Edwards Lifesciences shares have declined almost 2% since the beginning of the year. In the final minutes of trading on Tuesday, shares hit $89.63, a climb of 20% in the last 12 months.

This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on EW at https://www.zacks.com/ap/EW

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