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

pany's product lines, favorable foreign exchange, and increased transcatheter heart valve sales to more than $35 million.

"Foreign exchange hedges are expected to continue suppressing the improvement in gross profit margin for the next two quarters, resulting in a full year 2008 gross profit margin improvement at the low end of our 100 to 150 basis point guidance. In addition, we continue to expect free cash flow to be at the upper end of our $155 million to $165 million goal.

"Finally, we estimate that second quarter 2008 diluted EPS will be between $0.62 and $0.66. We are increasing the full year estimate by $0.13, to between $2.45 and $2.53 excluding special items, which represents a 15% to 19% growth rate," said Mussallem.

About Edwards Lifesciences

Edwards Lifesciences is the global leader in the science of heart valves and hemodynamic monitoring. Headquartered in Irvine, Calif., Edwards treats advanced cardiovascular disease with its market-leading heart valve therapies, and critical care and vascular technologies. In 2008, Edwards celebrates 50 years of partnering with clinicians to develop life-saving innovations. The company's global brands, which are sold in approximately 100 countries, include CardioVations, Carpentier-Edwards, Cosgrove-Edwards, FloTrac, Fogarty, PERIMOUNT Magna and Swan-Ganz. Additional company information can be found at http://www.edwards.com.

Conference Call and Webcast Information

Edwards Lifesciences will be hosting a conference call today at 5:00 p.m. ET to discuss its first quarter results. To participate in the conference call, dial (877) 407-8037 or (201) 689-8037. For 72 hours following the call, an audio replay can be accessed by dialing (877) 660-6853 or (201) 612-7415 and using account number 2995 and conference number 279431. The call will also be available via live or archived webcast on the "Investor Relations" section of the Edwa
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SOURCE Edwards Lifesciences Corporation
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