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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

p>Brian Concannon, Haemonetics' Chief Operating Officer, said, "A diverse product portfolio drove the Company to nearly 19% revenue growth. Our product line growth drivers continue to do well. I am also pleased to announce that our geographic growth was strong. In the quarter, Asia, a $32 million business, grew 21.2% and Europe, a $135 million business, grew 26.5%. Our reorganization of these businesses is paying off."

Among the product line growth drivers, plasma disposables revenue was $41 million for the quarter, up 27.5%. Year-to-date plasma disposables revenue is $115 million, up 19.3%. Plasma disposable sales benefited from continued growth in U.S. and European plasma collections. Haemonetics expects that growth in the plasma market will continue to drive strong plasma sales for the next several years.

Blood bank disposables revenue was $33 million for the quarter, up 7.3%. Year-to-date blood bank disposables revenue is $100 million, up 6.8%. Blood bank growth was driven by strong sales in Europe and Asia as the Company sees early benefits from last year's reorganization initiatives.

Red cell disposables revenue was $12 million for the quarter, up 12.1%. Year-to-date red cell disposables revenue is $34 million, up 6.7%. Strong equipment sales of the newest generation Cymbal(R) automated blood collection system and the MCS(R)+ mobile collection system in the first half of the year are driving stronger disposable sales in the second half of the year. Including equipment sales, total revenues for the red cell product line grew 15.0% in the quarter and 12.7% year-to-date.

Software and services revenue grew to $11 million for the quarter, up 18.0%. Year-to-date software and services revenue is $30 million, up 26.4%. In the quarter, Haemonetics Software Solutions completed the integration of the Surround software suite into the operations of Hema Quebec. With that software installation, all Canadian blood testing is now being processed th
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SOURCE Haemonetics Corporation
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