Edwards Lifesciences Profit Drops 22%

Edwards Lifesciences Corp., which makes products to treat late-stage cardiovascular disease, said Tuesday that first-quarter profit fell 22% because of lower sales of vascular and other products.

The Irvine manufacturer posted net income of $8.1 million, or 14 cents a share, down from $12.2 million, or 21 cents a share for last year’s first three months. Sales rose slightly to $197.1 million from $196.4 million.

Edwards went public when Baxter International Inc. spun off its cardiovascular unit April 3. Figures are estimated as if Edwards were a public company. The results include a nonrecurring $1.4 million expense, or 2 cents a share, related to the spinoff.