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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

quipment sales in the quarter will drive near-term disposables growth. 

Disposables revenue from our OrthoPAT® orthopedic perioperative autotransfusion system was $7.5 million in the quarter, down only 3% following a full fiscal 2012 decline of 12%. The impact of the voluntary recall of pre-2002 devices upon disposables usage has almost completely diminished and we have seen an expected return to robust growth in both June and July.  

Diagnostics revenue was $6.5 million, up 16%, as the company's IMPACT initiative continues to drive growth in disposables utilized in the TEG Thrombelastograph® Hemostasis Analyzer business.  TEG equipment sales were especially strong in recent quarters, a key indicator for near-term future disposables revenue growth. TEG disposables sales increased 70% in China.  

The company continues to expect its hospital business to grow 12-15% in fiscal 2013 with continued strength in surgical and diagnostics disposables, and a resurgence of OrthoPAT disposables as the year progresses.

Software and Equipment

Software Solutions revenue was $17.3 million, down 5%.  The prior year's first quarter revenue benefited from an unusual $1.7 million software license fee, aside from which Software Solutions had 5% growth in the fiscal 2013 first quarter.  The enhanced offering of software products for Blood Center and Hospital customers drove revenue growth of 5% in North America.  The Company continues to expect its software business to grow 5-7% in fiscal 2013.  

Equipment and other revenue was $13.7 million, up 20%.  Equipment revenue is influenced by the timing of tenders and capital budgets.  Sales of Cell Saver Elite and TEG devices in emerging markets were particularly strong.

Haemonetics reported first quarter fiscal 2013 revenue growth of 1% in North America, 19% in Asia and 7% in Europe.  Ja
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SOURCE Haemonetics Corporation
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