Edwards, and Edwards SAPIEN are trademarks of Edwards Lifesciences
Corporation. Edwards Lifesciences, Carpentier-Edwards, Cosgrove-Edwards,
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EDWARDS LIFESCIENCES CORPORATION
Unaudited Consolidated Statements of Operations
Three Months
Ended Year Ended
December 31, December 31,
(in millions, except per share data) 2007 2006 2007 2006
Net sales $293.0 $265.6 $1,091.1 $1,037.0
Cost of goods sold 99.6 97.4 378.2 373.6
Gross profit 193.4 168.2 712.9 663.4
Selling, general and administrative
expenses 114.5 95.1 418.0 376.0
Research and development expenses 33.5 30.0 122.3 114.2
Special charges (gains), net 25.8 18.0 23.3 (4.5)
Interest expense, net 0.4 0.4 1.4 2.7
Other (income) expenses, net (0.4) 1.0 (1.9) 2.7
Income before provision for income
taxes 19.6 23.7 149.8 172.3
Provision for income taxes 3.8 3.0 36.8 41.8
Net income $15.8 $20.7 $113.0 $130.5
Earnings per share:
Basic earnings per share $0.28 $0.36 $1.97 $2.23
Diluted earnings per share $0.27 $0.34 $1.87 $2.10
Weighted average common shares
outstanding:
Basic 56.7 57.7 57.3
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