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Haemonetics(R) Reports Strong Results for Third Quarter Fiscal 2008 with Continued Double Digit Growth in Sales
Date:1/31/2008

- Raises Annual Revenue Growth Guidance -

BRAINTREE, Mass., Jan. 31 /PRNewswire-FirstCall/ -- Haemonetics Corporation (NYSE: HAE) today reported third quarter fiscal 2008 GAAP net revenues of $135 million, up 18.6%; net income of $14 million, down 15.1%; and net earnings per share of $0.54, down 12.1%.

Third quarter fiscal 2008 adjusted net income, excluding charges in both fiscal 2007 and 2008 and certain tax benefits in 2007, was $15 million, up 12.5%, and adjusted earnings per share were $0.57, up 16.4%.(1) Haemonetics also reported year-to-date net revenues of $378 million, up 13.5%; adjusted net income of $41 million, up 11.2%; and adjusted net earnings per share of $1.53, up 15.3%.(2)

Brad Nutter, Haemonetics' Chairman and CEO, said, "Q3 performance was strong, and we are especially pleased to report our third consecutive quarter of double digit revenue growth. Our 19% growth comes from strength across multiple product lines and geographies. The outlook for these markets continues to be positive. As such, we are adjusting our annual revenue guidance from 10-12% growth to 11-13% growth."

"We are making good strides on our strategic vision to be the global leader in blood management solutions for our customers. Haemonetics is providing customers with a value proposition that includes an extensive depth and breadth of products, services, and software across the blood bank and hospital markets," Mr. Nutter added.

The Company has attached a reconciliation of GAAP to adjusted results at the end of this release. A copy of the reconciliation is also posted on the web at http://www.haemonetics.com/investors.

FINANCIALS

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