BUSINESS BRIEFING / EARNINGS
Edwards Lifesciences Corp. sold off its LifeStent product line more than a year ago, but after one of the stents was approved for sale, Edwards received a one-time payment that helped the company triple its first-quarter profit.
Edwards was paid $27 million after the Food and Drug Administration approved the LifeStent system.
The heart device maker said its profit grew to $60.5 million, or $1.03 a share, from $18.2 million, or 31 cents, a year earlier. Revenue rose 6% to $313.5 million.