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:  Sarah Huoh, 949-250-5070

Investor Contact:  David K. Erickson, 949-250-6826

 

EDWARDS LIFESCIENCES REPORTS SOLID FOURTH QUARTER RESULTS

 

·    Reported sales growth 9.6 percent

·    Reaffirms sales and earnings outlook for 2012

·    Special items reduce EPS by $0.09

 

IRVINE, Calif., February 2, 2012

— 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, 2011 of $63.1 million, or $0.53 per diluted share, compared to net income of $64.8 million, or $0.54 per diluted share, for the same period in 2010.  Excluding special items from both periods detailed in the reconciliation table below, fourth quarter diluted earnings per share were $0.62, compared to $0.55 in the prior year quarter, an increase of 12.7 percent.

 

Fourth quarter net sales increased 9.6 percent to $430.2 million compared to the same period last year.  Underlying(1) sales growth was 8.3 percent.

 

“Our fourth quarter closes out a year of significant investment and major milestones for Edwards.  Successful PARTNER trial results culminated in U.S. regulatory approval to begin offering our transcatheter heart valve technology to many inoperable patients suffering from severe aortic stenosis,” said Michael A. Mussallem, chairman and CEO.  “Although the SAPIEN approval was later than we anticipated and the recent economic turmoil in southern Europe affected results, we were able to deliver quarterly sales growth of 9.6 percent, consistent with our most recent guidance.”

 

Sales Results

 

For the fourth quarter, the company reported Heart Valve Therapy sales of $256.6 million, representing 13.4 percent growth over last year.  Underlying sales grew 12.5 percent.  Transcatheter heart valve (THV) sales were $93.2 million, a 42.7 percent increase over 2010.  Total THV commercial and clinical sales in the U.S. were $17.1 million.

 

“We continue to project full year 2012 THV sales of $560 to $630 million, including $200 to $260 million of sales in the U.S., which translates to a 70 to 90 percent underlying sales growth rate,” Mussallem said.

 


The following information was filed by Edwards Lifesciences Corp (EW) on Thursday, February 2, 2012 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.

View differences made from one year to another to evaluate Edwards Lifesciences Corp's financial trajectory

Compare SEC Filings Year-over-Year (YoY) and Quarter-over-Quarter (QoQ)
Sample 10-K Year-over-Year (YoY) Comparison

Compare this 10-K Annual Report to its predecessor by reading our highlights to see what text and tables were  removed  ,   added    and   changed   by Edwards Lifesciences Corp.

Continue

Never Miss A New SEC Filing Again


Real-Time SEC Filing Notifications
Screenshot taken from Gmail for a new 10-K Annual Report
Last10K.com Member Feature

Receive an e-mail as soon as a company files an Annual Report, Quarterly Report or has new 8-K corporate news.

Continue

We Highlighted This SEC Filing For You


SEC Filing Sentiment Analysis - Bullish, Bearish, Neutral
Screenshot taken from Wynn's 2018 10-K Annual Report
Last10K.com Member Feature

Read positive and negative remarks made by management in their entirety without having to find them in a 10-K/Q.

Continue

Widen Your SEC Filing Reading Experience


Increased Reading Area for SEC Filings
Screenshot taken from Adobe Inc.'s 10-Q Quarterly Report
Last10K.com Member Feature

Remove data columns and navigations in order to see much more filing content and tables in one view

Continue

Uncover Actionable Information Inside SEC Filings


SEC Filing Disclosures
Screenshot taken from Lumber Liquidators 10-K Annual Report
Last10K.com Member Feature

Read both hidden opportunities and early signs of potential problems without having to find them in a 10-K/Q

Continue

Adobe PDF, Microsoft Word and Excel Downloads


Download Annual and Quarterly Reports as PDF, Word and Excel Documents
Screenshots of actual 10-K and 10-Q SEC Filings in PDF, Word and Excel formats
Last10K.com Member Feature

Export Annual and Quarterly Reports to Adobe PDF, Microsoft Word and Excel for offline viewing, annotations and analysis

Continue

FREE Financial Statements


Download Annual and Quarterly Reports as PDF, Word and Excel Documents
Screenshot of actual balance sheet from company 10-K Annual Report
Last10K.com Member Feature

Get one-click access to balance sheets, income, operations and cash flow statements without having to find them in Annual and Quarterly Reports

Continue for FREE

Log in with your credentials

or    

Forgot your details?

Create Account