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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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Related biology technology :

1. Edwards Lifesciences Celebrates 50 Years of Life-Saving Innovations
2. Lambert, Edwards & Associates Named Agency of Record for The West Michigan Science & Technology Initiative
3. Edwards Lifesciences Announces First Human Implants of Next-Generation Transcatheter Heart Valve
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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