Revenue jumped 18% year-over-year, while earnings soared 44%. FDA's approval to the use of its SAPIEN device, that came back in October, has been the major cause behind its massive growth following the Q3 forecast miss. The good news Despite a string of good news — earnings beat, FDA approval of SAPIEN, launch of a new SAPIEN XT, and the U.S. court's decision in Edwards Lifesciences Corp (NYSE: EW )'s avor to block competitor Medtronic, Inc. (NYSE: MDT ) in the U.S., and no considerable bad news, the recent dip seems unwarranted. Here are a few reasons why I believe Edwards is still a strong pick for the long haul. The core competency: Improved SAPIEN Firstly, management had significantly stepped up R&D in FY2012, thus gaining speedy progress in the transcatheter valve technology. R&D investments in the latest quarter alone grew 23% to $75 million, accounting for 15% of sales. For the new year 2013, management guides R&D expenses to be between 14% and 16% as a percentage of sales.