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Edwards Lifesciences Reports Strong First Quarter Results and Raises 2008 Guidance
Date:4/22/2008

, except per share data) 2008 2007

GAAP net income $18.2 $33.2

Reconciling items:

Special charges, net

1) Loss on sale of product line 8.1 -

2) Litigation settlement 2.1 -

3) Realignment expenses, net (0.1) -

Total special charges, net 10.1 -

Provision for income taxes

Tax effect on non-GAAP

adjustments (A) 4.9 -

Total provision for income

taxes, net 4.9 -

Non-GAAP net income $33.2 $33.2

Non-GAAP earnings per share:

Basic non-GAAP earnings per share $0.59 $0.57

Diluted non-GAAP earnings per share (B) $0.56 $0.54

Non-GAAP weighted average shares

outstanding:

Basic 56.1 57.9

Diluted 61.2 63.5

Notes 1 - 3: See description of Special Charges, net on the previous

page.

(A) The tax effect on non-GAAP adjustments is calculated using the

relevant tax jurisdictions' statutory tax rates.

(B) Diluted non-GAAP earnings per share is calculated by adding back to

net income $1.0 million for the quarter in interest expense related to

the convertible debt, then dividing by the weighted average diluted

shares outstanding.

Note: Numbers may not calculate due to rounding

EDWARDS LIFESCIENCES CORPORATION

Unaudited Reconciliation of Sales by Product Line and Region

(in millions)

2008 Adjusted

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SOURCE Edwards Lifesciences Corporation
Copyright©2008 PR Newswire.
All rights reserved

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Related biology technology :

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4. Edwards Lifesciences Announces Organizational Changes
5. Edwards Lifesciences to Present at the Merrill Lynch Global Pharmaceutical, Biotechnology & Medical Device Conference
6. Edwards Lifesciences to Host Earnings Conference Call on February 5, 2008
7. Edwards Lifesciences Receives FDA Approval to Add Transapical Delivery System to U.S. Clinical Trial of Transcatheter Heart Valve
8. Edwards Lifesciences Completes Acquisition of CardioVations Product Line
9. Edwards Lifesciences Forecasts Strong Growth in 2008
10. Marshall Edwards, Inc. to Present at BIO Investor Forum 2007
11. Medarex to Present at the A.G. Edwards 2nd Annual Emerging Growth Conference
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