Notes to Consolidated Financial Statements note 15. First Second Third Fourth Total Years Ended December 31,  (in millions, except per share data) quarter quarter quarter quarter year 2001 Net sales $ 192 $ 192 $ 148 $ 160 $ 692 Gross profit 96 97 83 92 368 Net income (loss) a 13 ( 56 ) 15 17 ( 11 ) Per common share Basic 0.22 ( 0.95 ) 0.25 0.29 ( 0.19 ) Diluted 0.21 ( 0.95 ) 0.24 0.28 ( 0.19 ) Market price High 22.75 26.45 28.00 29.15 29.15 Low 16.75 17.80 20.40 22.60 16.75 2000 Net sales $ 226 $ 205 $ 186 $ 187 $ 804 Gross profit 108 90 90 93 381 Net income (loss) b,c 17 ( 309 ) 4 16 ( 272 ) Pro forma per common share d Basic 0.29 ( 5.31 ) 0.08 0.27 ( 4.66 ) Diluted 0.29 ( 5.31 ) 0.07 0.26 ( 4.66 ) Market price High n/a 20.44 26.25 24.19 26.25 Low n/a 13.75 19.69 13.00 13.00 1999 Net sales $ 221 $ 233 $ 217 $ 234 $ 905 Gross profit 108 118 102 111 439 Net income 22 24 17 19 82 n/a – not applicable On March  1 , 2002 , there were  40,527 shareholders of record of Edwards Lifesciences’ common stock. Edwards Lifesciences has never paid any cash dividends on its capital stock and does not plan to pay any cash dividends in the foreseeable future. The current policy of Edwards Lifesciences is to retain any future earnings for use in the business of the Company. The Annual Meeting of  Shareholders will be held  on May  8 , 2002 at  10 a.m. Pacific time at the offices of  Edwards Lifesciences Corporation  One Edwards Way Irvine, CA  92614 Members of the news media  should call: ( 949 )  250 - 5070 Shareholders, securities  analysts and investors seeking  additional information about  Edwards Lifesciences should contact: David K. Erickson Vice President, Investor Relations  ( 949 )  250 - 2806 Phone ( 949 )  250 - 2248 Fax investor_relations@edwards.com. Edwards Lifesciences is an affirmative  action, equal opportunity employer. A.G. Edwards  & Sons, Inc. Bear, Stearns  & Co. Inc. Credit Suisse First Boston Fahnestock  & Co. J.P. Morgan Chase  & Co. Ladenburg, Thalmann  & Co. Leerink Swann  & Co. Merrill Lynch SunTrust Robinson Humphrey UBS Warburg U.S. Bancorp Piper Jaffray Wachovia Securities Wedbush Morgan Securities Wells Fargo Van Kasper William Blair  & Company, L.L.C. Edwards Lifesciences’ website at www.edwards.com provides access  to a wide range of information  for our customers, patients and  shareholders. Persons interested in  investing in Edwards Lifesciences  are invited to visit the “For Investors” section of our website to access our  press releases, SEC filings and other  company information. Edwards Lifesciences Corporation One Edwards Way Irvine, CA  92614 ( 949 )  250 - 2500 ( 800 )  4 -A-HEART www.edwards.com Edwards Lifesciences’ stock is  traded on The New York Stock  Exchange (NYSE) under the  symbol EW. PricewaterhouseCoopers LLP Orange County, CA ® Correspondence about share  ownership, account status, the  transfer or exchange of shares, lost stock certificates, duplicate  mailings or change of address  may be directed to: First Chicago Trust Company (a division of EquiServe) P. O. B o x 2500 Jersey City, NJ  07303 - 2500 ( 201 )  324 - 0014 ( 800 )  756 - 8200 Hearing impaired # TDD: 201 - 222 - 4955 www.equiserve.com A copy of Edwards Lifesciences’ annual report to the Securities and Exchange Commission on Form  10 -K is available without charge  upon request to our Investor  Relations department. It is also  available on our website at www.edwards.com. Michael A. Mussallem Chairman of the Board &  Chief Executive Officer, Edwards Lifesciences Corporation Mike R. Bowlin Former Chairman &  Chief Executive Officer, Atlantic Richfield Company Vernon R. Loucks Jr. Former Chairman &  Chief Executive Officer, Baxter International Inc. Corinne H. Lyle Vice President &  Chief Financial Officer, Tularik Inc. Philip M. Neal Chairman &  Chief Executive Officer, Avery Dennison Corporation David E.I. Pyott Chairman, Chief Executive  Officer & President Allergan, Inc. 53 Edwards Lifesciences Corporation 52 Edwards Lifesciences Corporation a The second quarter includes ( 1 ) a $ 68 million pretax loss on the sale of the Company’s perfusion services business to Fresenius, and ( 2 ) a  $ 15 million pretax charge consisting of the write-down of selected goodwill, intangible assets and other assets. b The second quarter includes ( 1 ) a $ 290 million pretax charge related to the sale of the Bentley line of cardiopulmonary products (perfusion products) to Jostra AG, ( 2 ) a $ 45 million pretax charge consisting of the write-down of selected goodwill and intangible assets, ( 3 ) a $ 35 million pretax gain on the sale of the United States assets of the Company’s mechanical cardiac assist product line to WorldHeart, and ( 4 ) a $ 17 million pretax charge consisting of non-recurring expenses related to the Company’s spin-off from Baxter International Inc. c The third quarter includes a $ 12 million pretax charge related primarily to severance costs associated with the sale of the Company’s Bentley line of cardiopulmonary products. d For first quarter and total year, computed as if  58.2 million common shares of Edwards Lifesciences had been outstanding as of January  1, 2000 (comprised of  58.1 million common shares of Edwards Lifesciences distributed to Baxter shareholders to effect the Distribution and approximately 0.1 million common shares of Edwards Lifesciences distributed to Edwards Lifesciences’ hourly employees subsequent to the Distribution). Number of Stockholders Dividends QUARTERLY FINANCIAL RESULTS AND MARKET  FOR THE COMPANY’ S STOCK (UNAUDITED) Corporate  Information Board of Directors SEC Form 10-K Transfer Agent Stock Symbol Independent Accountants Firms Following and/or Regularly  Reporting on Edwards Lifesciences Information on the Internet Investor Information Corporate Headquarters Corporate Public Relations Annual Meeting