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

are, compared to net income of $127.7 million, or $2.06 per diluted share for the previous year.

Net sales for the year totaled $1.091 billion, an increase of 5.2 percent over the same period last year. Underlying growth was 6.6 percent for the full year as foreign exchange contributed $30.2 million to the period's growth and was more than offset by discontinued businesses of $42.8 million. Domestic and international sales for the full year were $486.6 million and $604.5 million, respectively.

Free cash flow generated for the year was $153.2 million, calculated as cash flow from operating activities of $210.2 million minus capital expenditures of $57.0 million.

2008 Outlook

"Edwards is very well positioned for a strong 2008, highlighted by a number of new product launches and progress on our pioneering transcatheter heart valve platform," said Mussallem. "We also will remain focused on achieving our annual financial goals, which include generating total sales between $1.160 to $1.210 billion, increasing our gross profit margin by 100 to 150 basis points, and generating free cash flow of $155 to $165 million. Finally, we estimate that first quarter 2008 diluted EPS will be between $0.47 and $0.51, and for the full year between $2.32 and $2.40."

About Edwards Lifesciences

Edwards Lifesciences, a leader in advanced cardiovascular disease treatments, is the number-one heart valve company in the world and the global leader in acute hemodynamic monitoring. Headquartered in Irvine, Calif., Edwards focuses on specific cardiovascular disease states including heart valve disease, vascular disease and critical care technologies. The company's global brands, which are sold in approximately 100 countries, include Carpentier-Edwards, Cosgrove-Edwards, FloTrac, Fogarty, PERIMOUNT Magna, and Swan-Ganz. Additional company information can be found at http://www.edwards.com.

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SOURCE Edwards Lifesciences Corporation
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