Edwards Lifesciences Corporation CEO Discusses Q2 2012 Results - Earnings Call Transcript

Edwards Lifesciences Corporation (EW)

Q2 2012 Earnings Call

July 24, 2012 5 p.m. ET


David Erickson – Vice President, Investor-Relations

Michael Mussallem – Chief Executive Officer

Thomas Abate – Chief Financial Officer


Jason Mills – Canaccord Genuity

Larry Biegelsen – Wells Fargo

Kristen Stewart – Deutsche Bank

Amit Bhalla – Citigroup

Michael Weinstein – JP Morgan

Bruce Nudell – Credit Suisse

Glenn Novarro – RBC Capital Markets

David Roman – Goldman Sachs

Tom Gunderson – Piper Jaffray

Raj Denhoy – Jefferies & Co

David Lewis – Morgan Stanley

Bob Hopkins – Bank of America

Spencer Nam – ThinkEquity



Greetings and welcome to the Edwards Lifesciences Corporation Second Quarter 2012 Earnings Conference Call. (Operator Instructions) As a reminder this conference is being recorded.

It is now my pleasure to introduce your host, David Erickson, Vice President and Investor Relations. Thank you, Mr. Erickson, you may begin.

David Erickson

Welcome and thank you for joining us today. Just after the close of regular trading we released our second quarter 2012 financial results. During today’s call we’ll discuss the results included in the press release and the accompanying financial schedules and then use remaining time for Q&A.

Our presenters on today’s call are Mike Mussallem, Chairman and CEO and Tom Abate, CFO.

Before I turn the call over to Mike, I’d like to remind you that during today’s call we will be making forward-looking statements that are based on estimates, assumptions, and projections. These statements include, but aren’t limited to, our expectations regarding sales and sales growth, gross profit margin, net income growth, earnings per share, SG&A, R&D, taxes, free cash flow, diluted share outstanding and foreign currency impacts. These statements also include our current expectations for the timing, status and expected outcomes of our clinical trials, regulatory submissions and approvals and new product introductions as well as expectations regarding market growth and potential impacts of supply interruptions, economic conditions and competitive products.

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