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Haemonetics Reports First Quarter Fiscal 2013 Results, Completes Acquisition of Pall's Transfusion Medicine Business, Affirms Fiscal 2013 Earnings Guidance, Provides Preliminary Outlook for Fiscal 2014 and Announces Share Repurchase
Date:8/1/2012

BRAINTREE, Mass., Aug. 1, 2012 /PRNewswire/ -- Haemonetics Corporation (NYSE: HAE) today reported first quarter 2013 GAAP net revenue of $176.5 million, up 3%, net income of $9.8 million, down 42%, and diluted earnings per share of $0.38 down 42%.  Excluding restructuring, transformation and transaction costs, adjusted first quarter net income was $14.3 million, down 16%, and adjusted earnings per share were $0.55, down 15%.  Excluding currency impacts, net revenue was up 3% in the quarter.(1)

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Brian Concannon, Haemonetics' President and CEO, commented: "We're especially encouraged with 11% growth in our hospital business on strength in surgical and diagnostics disposables across all markets. Demand for the Cell Saver® Elite®, our newest cell salvage device, and TEG® disposables continued to show strength, as more hospital customers embrace the value of our Blood Management Solutions.
Excluding the impact in the quarter of the Japanese Red Cross ("JRC") "buy in" in the previous quarter, our revenue grew 6% in total."STRATEGIC AND PRODUCT GROWTH HIGHLIGHTSHaemonetics continues to make progress expanding its business, reporting the following highlights:

  • Completed the acquisition of Transfusion Medicine Business from Pall Corporation.
  • New share repurchase of up to $50 million authorized.
  • 20% growth in equipment sales, giving confidence that disposables revenue growth will continue.
  • Sold or placed a record 172 TEG diagnostic devices and 229 Cell Saver Elite devices.
  • 16% revenue growth in diagnostic disposables products, on the strength of 70% growth in China.
  • 16% growth in surgical disposables, with Blood Management Solu
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    • SOURCE Haemonetics Corporation
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