IRVINE, Calif. (AP) _ Edwards Lifesciences Corp. (EW) on Wednesday reported fourth-quarter profit of $309.5 million.

On a per-share basis, the Irvine, California-based company said it had profit of 49 cents. Earnings, adjusted for non-recurring costs and amortization costs, came to 50 cents per share.

The results fell short of Wall Street expectations. The average estimate of 11 analysts surveyed by Zacks Investment Research was for earnings of 53 cents per share.

The medical device maker posted revenue of $1.19 billion in the period, beating Street forecasts. Nine analysts surveyed by Zacks expected $1.18 billion.

For the year, the company reported profit of $823.4 million, or $1.30 per share. Revenue was reported as $4.39 billion.

For the current quarter ending in April, Edwards Lifesciences expects its per-share earnings to range from 43 cents to 50 cents.

The company said it expects revenue in the range of $1.1 billion to $1.2 billion for the fiscal first quarter.

Edwards Lifesciences expects full-year earnings in the range of $2 to $2.20 per share, with revenue ranging from $4.9 billion to $5.3 billion.

Edwards Lifesciences shares have dropped 7% since the beginning of the year, while the Standard & Poor's 500 index has stayed nearly flat. In the final minutes of trading on Wednesday, shares hit $84.84, an increase of 11% 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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