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

e are the first company to provide the Ascendra transapical delivery system, which was recently approved for sale in Europe and just last week was cleared by the FDA to be included in our U.S. PARTNER trial."

Sales Results

For the fourth quarter, the company reported Heart Valve Therapy sales of $131.4 million, which included a $6.4 million positive contribution from foreign exchange. "Strong sales growth in international markets, driven by recent product launches and share gains, is offsetting a U.S. market that remains competitive," said Mussallem.

Critical Care sales of $113.0 million grew 20.0 percent over last year, which included a $4.8 million positive contribution from foreign exchange. "Sales of new products, led by our FloTrac system, continued to be the biggest growth driver this quarter," added Mussallem. "Our world-leading pressure monitoring products continued to gain share. In addition, growth was boosted by a sharp up-tick in sales of hardware products."

Cardiac Surgery Systems sales for the quarter were $15.1 million, a decline from $21.9 million in the same quarter last year due to the 2006 sale of the company's Brazil-based perfusion product line and this year's sale of the TMR product line. "During the quarter, we completed our acquisition of CardioVations and are excited about integrating these minimally invasive products into our portfolio," stated Mussallem.

Vascular sales grew 19.5 percent to $25.1 million compared to the same period in 2006. "The strong growth this quarter was driven by global sales of the LifeStent product line," Mussallem said. "Consistent with our long-term strategy, we completed the sale of the LifeStent product line in January."

Domestic and international sales for the fourth quarter were $123.9 million and $169.1 million, respectively.

Additional Operating Results

For the quarter, Edwards' gross profit margin was 66.0 percent compared to 63.3 percent in the same p
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SOURCE Edwards Lifesciences Corporation
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