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

 

FOR IMMEDIATE RELEASE

 

 

Media Contact:

Amanda C. Fowler, 949-250-5070

 

Investor Contact:

David K. Erickson, 949-250-6826

 

DOUBLE-DIGIT SALES GROWTH DRIVES STRONG FOURTH QUARTER RESULTS FOR EDWARDS LIFESCIENCES

 

·    Transcatheter Heart Valve Sales Increased to $65 Million

·    PARTNER II Cohort B IDE Approved Today

·    Special Charge and Income Tax Benefit Recorded

 

IRVINE, Calif., February 2, 2011

— Edwards Lifesciences Corporation (NYSE: EW), the global leader in the science of heart valves and hemodynamic monitoring, today reported net income for the quarter ended December 31, 2010 of $64.8 million, or $0.54 per diluted share, compared to net income of $47.6 million, or $0.40 per diluted share(1), for the same period in 2009.  Fourth quarter diluted earnings per share increased 35.0 percent over last year.  Excluding special items from both years, detailed in the reconciliation table below, fourth quarter diluted earnings per share grew 31.0 percent over last year to $0.55.

 

Fourth quarter net sales increased 13.2 percent to $392.4 million.  Underlying(2) sales growth was 13.7 percent.

 

Today the company received conditional IDE approval for Cohort B of The PARTNER II Trial.  This trial will study the next generation Edwards SAPIEN XT transcatheter heart valve with the NovaFlex delivery system in non-operable patients in the U.S.  The company expects enrollment to commence soon and be completed by year-end.

 

“The fourth quarter capped 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 proud of the many achievements in our transcatheter heart valve program during 2010, which strengthened our leadership position in this emerging field.  The powerful clinical results seen in The PARTNER Trial remind us of the importance of this therapy to the many patients who are not suitable candidates for open heart surgery.”

 


The following information was filed by Edwards Lifesciences Corp (EW) on Wednesday, February 2, 2011 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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