Exhibit 99.1

 

GRAPHIC

Edwards Lifesciences Corporation
One Edwards Way · Irvine, CA USA ·92614
Phone: 949.250.2500 · Fax: 949.250.2525
www.edwards.com

 

NEWS RELEASE

 

 

Media Contact:

  Amanda C. Fowler, 949-250-5070

 

Investor Contact:

  David K. Erickson, 949-250-6826

 

EDWARDS LIFESCIENCES REPORTS

STRONG FOURTH QUARTER RESULTS

 

· Company Achieves Double Digit Sales Growth

· 2009 Transcatheter Heart Valve Sales More than Double to $112 Million

 

IRVINE, Calif., February 4, 2010

— 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, 2009 of $47.6 million, or $0.80 per diluted share, compared to net income of $38.1 million, or $0.66 per diluted share, for the same period in 2008.  Excluding special items detailed in the reconciliation table below, fourth quarter 2009 net income was $49.8 million, or $0.84 per diluted share, compared to net income of $45.2 million, or $0.78 per diluted share, for the same period last year.  Fourth quarter diluted earnings per share increased 21.2 percent over last year.  Excluding special items, diluted earnings per share grew 7.7 percent.

 

Fourth quarter net sales increased 11.9 percent to $346.7 million.  Underlying(1) sales growth was 10.2 percent, which excludes a $16.6 million positive impact from foreign exchange and an $11.7 million reduction primarily from divested products.

 

“The fourth quarter caps a very strong year of financial results and progress on our exciting new technologies,” said Michael A. Mussallem, Edwards Lifesciences’ chairman and CEO.  “We are particularly proud to have brought revolutionary transcatheter technology to so many previously underserved patients in only our second year since launch.  In 2009, we more than doubled our SAPIEN sales to $112 million.”

 

“This quarter’s results were also highlighted by U.S. share gains in surgical heart valve therapy.  In addition, we continued to make steady progress on our next generation heart valve systems.”

 


The following information was filed by Edwards Lifesciences Corp (EW) on Thursday, February 4, 2010 as an 8K 2.02 statement, which is an earnings press release pertaining to results of operations and financial condition. It may be helpful to assess the quality of management by comparing the information in the press release to the information in the accompanying 10-K Annual Report statement of earnings and operation as management may choose to highlight particular information in the press release.

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