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Edwards Lifesciences Reports Strong Fourth Quarter Sales
Date:2/5/2008

- Critical Care Reports 20 Percent Growth

- Gross Profit Margin Reaches 66 Percent

- Special Items Reduce Net Income by $17.9 Million

IRVINE, Calif., Feb. 5 /PRNewswire-FirstCall/ -- Edwards Lifesciences Corporation (NYSE: EW), a world leader in products and technologies to treat advanced cardiovascular disease, today reported net income for the quarter ended December 31, 2007 of $15.8 million, or $0.27 per diluted share, compared to net income of $20.7 million, or $0.34 per diluted share for the same period in 2006. Excluding special items detailed in the reconciliation table below, fourth quarter 2007 net income was $33.7 million, or $0.56 per diluted share, compared to net income of $33.7 million, or $0.55 per diluted share for the previous year.

Fourth quarter net sales increased 10.3 percent to $293.0 million, compared to $265.6 million in the same quarter last year. Underlying sales growth was 9.7 percent excluding the impact of $11.4 million of sales from discontinued products and a $13.4 million contribution from foreign exchange.

"Our Critical Care franchise achieved 10 percent sales growth for full year 2007, capped by a very strong fourth quarter," said Michael A. Mussallem, Edwards Lifesciences' chairman and CEO. "In the quarter, our market-leading Heart Valve Therapy franchise reported 9 percent growth and was led by strong international sales.

"With the successful launch of our SAPIEN valve in Europe, transcatheter heart valves contributed over $2 million of sales in the fourth quarter. We continue to build momentum and are confident we will achieve more than $20 million of global transcatheter heart valve sales in 2008," continued Mussallem.

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SOURCE Edwards Lifesciences Corporation
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