8-K

UNITED STATES
SECURITIES AND EXCHANGE COMMISSION

WASHINGTON, D.C. 20549

FORM 8-K

CURRENT REPORT

Pursuant to Section 13 or 15(d) of the
Securities Exchange Act of 1934

Date of report (Date of earliest event reported):  March 8, 2006

EDWARDS LIFESCIENCES CORPORATION
(Exact name of registrant as specified in its charter)

Delaware	1-15525	36-4316614
(State or other jurisdiction	(Commission	(IRS Employer
of incorporation)	file number)	Identification No.)
One Edwards Way, Irvine, California		92614
(Address of principal executive offices)		(Zip Code)

(949) 250-2500

Registrant’s telephone number, including area code

N/A

(Former Name or Former Address, if Changed Since Last Report)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

oWritten communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

oSoliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

oPre-Commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

oPre-commencement communications pursuant to Rule 13e-4© under the Exchange Act (17 CFR 240.13e-4(c))

Item 2.02.Results of Operations and Financial Condition.

On March 8, 2006, Edwards Lifesciences Corporation, a Delaware corporation, issued a press release announcing its reclassification of $14 million from 2005 operating cash flows.  A copy of the press release is attached as Exhibit 99.1.

The information furnished under this Item 2.02, including Exhibit 99.1, shall not be deemed to be “filed” for purposes of the Securities Exchange Act of 1934, as amended.

Item 9.01.Financial Statements and Exhibits.

(c)Exhibits

99.1Press release, dated March 8, 2006, announcing Edwards Lifesciences’ reclassification of $14.0 million from 2005 operating cash flows.

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SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

Date: March 8, 2006
	EDWARDS LIFESCIENCES CORPORATION
	By:	/s/ Thomas M. Abate
		Thomas M. Abate
		Corporate Vice President,
		Chief Financial Officer and Treasurer

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Exhibit Index

Exhibit Number	Description
99.1	Press release, dated March 8, 2006, announcing Edwards Lifesciences’ reclassification of $14.0 million from 2005 operating cash flows.

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EX-99.1

Exhibit 99.1

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:	Barry R. Liden, 949-250-5070
Investor Contact:	David K. Erickson, 949-250-6826

EDWARDS LIFESCIENCES RECLASSIFIES $14 MILLION
FROM 2005 OPERATING CASH FLOWS

Reclassification Has No Impact on 2005 Net Cash Flows, Earnings,
Balance Sheet or 2006 Guidance

IRVINE, Calif., March 8, 2006 — Edwards Lifesciences Corporation (NYSE:EW), a global leader in products and technologies to treat advanced cardiovascular disease, today said that its Form 10-K for the year ended December 31, 2005, which the company expects to file with the Securities and Exchange Commission later this week, will include a reclassification within its Statement of Cash Flows of $14.0 million related to the impact of a previously announced divestiture.  The reclassification has no effect on the company’s 2005 net cash flows, any previously released balance sheets, statements of operations or statements of shareholders’ equity, nor does it have any impact on the company’s 2006 outlook.

On February 2, 2006, Edwards reported fourth quarter and full year 2005 results, including cash flows from operating activities and free cash flow.  It was subsequently determined that a $14.0 million impact from the ePTFE vascular graft business divestiture was recorded in cash flows from operating activities rather than cash flows from investing activities.  As a result of the reclassification, the revised annual cash flows from operating activities is $136.8 million.  Correspondingly, free cash flow for full year 2005 is $126.1 million, calculated as cash flows from operating activities, minus capital

EDWARDS LIFESCIENCES RECLASSIFIES $14 MILLION FROM

2005 OPERATING CASH FLOWS

expenditures of $48.5 million, plus $37.8 million related to the company’s charitable fund contribution and the restructuring of the 3F Therapeutics agreement.  For the fourth quarter, revised cash flows from operating activities and free cash flow are $44.3 million and $22.4 million, respectively.

The Form 10-K filing for the year ended December 31, 2005 will be available on Edwards’ investor relations Web site at http://www.edwards.com/InvestorRelations.

About Edwards Lifesciences

Edwards Lifesciences, a leader in advanced cardiovascular disease treatments, is the number-one heart valve company in the world and the global leader in acute hemodynamic monitoring.  Headquartered in Irvine, Calif., Edwards focuses on specific cardiovascular opportunities including heart valve disease, peripheral vascular disease and critical care technologies.  The company’s global brands, which are sold in approximately 100 countries, include Carpentier-Edwards, Cosgrove-Edwards, FloTrac, Fogarty, LifeStent, PERIMOUNT and Swan-Ganz.  Additional company information can be found at http://www.edwards.com.

Edwards Lifesciences, Edwards, Carpentier-Edwards, Cosgrove-Edwards, Fogarty, PERIMOUNT and Swan-Ganz are trademarks of Edwards Lifesciences Corporation and are registered in the U.S. Patent and Trademark Office.  LifeStent is a trademark of Edwards Lifesciences AG and is registered in the U.S. Patent and Trademark Office.  FloTrac is a trademark of Edwards Lifesciences Corporation.

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