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Haemonetics Reports Third Quarter of Fiscal 11
Date:1/31/2011

n $90 million.

Brian Concannon, Haemonetics' President and CEO, said, "I continue to be encouraged by the positive momentum in our business and the excellent operating discipline which has driven strong earnings performance, both in the quarter and year to date. The return to growth in our commercial plasma business is also very encouraging and the sequential growth rates tell the story of a real recovery in demand for our plasma products, which we expect to continue in fiscal 12."

STRATEGIC AND SEGMENT GROWTH HIGHLIGHTSHaemonetics continues to make progress expanding its business.  The Company reported the following highlights:

  • In the quarter, average weekly plasma shipments were up 17% from the low point in the recent plasma downturn which occurred in Q4 of fiscal 10.
  • 47 additional IMPACT™ customers in Q3 fiscal 11 bringing the total number of IMPACT customers to 165, driving accelerated revenue growth in key product lines evidenced by a 21% Q3 growth rate for TEG®  Thrombelastograph® Hemostasis Analyzer disposables.
  • Platelets grew 3% in the quarter and 5% year to date, reflecting strong double digit growth in the Company's emerging markets business units.
  • In the quarter, equipment revenue grew 16% year over year.  Equipment sales are a leading indicator of disposables revenue.
  • The Global Med acquisition integration is proceeding well against its planned schedule and operating income targets.

  • Mr. Concannon added, "We've made great progress in adding IMPACT accounts and these accounts are generating significantly higher growth rates as they implement a differentiated approach to blood management.  I remain confident in our ability to achieve our full year target of 175 IMPACT accounts by fiscal year end."

    As noted, Haemonetics' third quarter fiscal 11 reported revenues were $176.8 million, up 7%.  Reported revenues break down as follows:

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