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

Three Months Ended

March 31,

(in millions, except per share data) 2008 2007

Net sales $296.8 $264.1

Cost of goods sold 102.9 93.2

Gross profit 193.9 170.9

Selling, general and administrative

expenses 114.6 98.6

Research and development expenses 32.9 28.8

Special charges, net 10.1 -

Interest expense, net 0.4 0.2

Other expense (income), net 1.2 (1.3)

Income before provision for income

taxes 34.7 44.6

Provision for income taxes 16.5 11.4

Net income $18.2 $33.2

Earnings per share:

Basic earnings per share $0.32 $0.57

Diluted earnings per share $0.31 $0.54

Weighted average common shares

outstanding:

Basic 56.1 57.9

Diluted 58.5 63.5

Operating Statistics

As a percentage of net sales:

Gross profit 65.3% 64.7%

Selling, general and

administrative expenses 38.6% 37.3%

Research and development

expenses 11.1% 10.9%

Income before provision for

income taxes
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SOURCE Edwards Lifesciences Corporation
Copyright©2008 PR Newswire.
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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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