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Haemonetics Reports Double Digit Growth in Revenue, Operating Income, and EPS for the Third Quarter Fiscal 2009
Date:2/2/2009

Company Increases Full Year Expectations for Revenue Growth

BRAINTREE, Mass., Feb. 2 /PRNewswire-FirstCall/ -- Haemonetics Corporation (NYSE: HAE) today reported third quarter fiscal 2009 GAAP net revenues of $155 million, up 16%; operating income of $24 million, up 25%; and net earnings per share of $0.62, up 15%. Year-to-date, net revenues are $445 million, up 18%; operating income is $67 million, up 35%; and net earnings per share are $1.73, up 22%.

Excluding restructuring charges in both fiscal 2008 and 2009, third quarter fiscal 2009 adjusted operating income was $25 million, up 20%, and adjusted earnings per share were $0.63, up 10%. Year-to-date, adjusted operating income is $70 million, up 30%, and adjusted earnings per share are $1.80, up 18%.(1)

Brad Nutter, Haemonetics' Chairman and CEO, said, "Despite challenging global economic conditions, we are seeing strength across our diversified product lines. I'm particularly pleased to note that year-to-date reported revenue growth is double digits in all of our geographies. Haemonetics' outlook for the future is strong."

Q3FY09 AND YEAR-TO-DATE FINANCIALS(1)

As noted, Haemonetics' third quarter fiscal 2009 net revenues were $155 million, up 16%. Excluding the effects of currency, third quarter net revenues grew 15%. Year-to-date net revenues are $445 million, up 18%. Excluding the effects of currency, year-to-date net revenues grew 14%. The Company expects the impact of currency to be neutral to revenue growth in the fourth quarter.

Haemonetics also reported third quarter gross profit of $78 million, up 18%. Gross margin grew 90 basis points to 50.4%. Year-to-date adjusted gross profit is $226 million, up 20%. Year-to-date adjusted gross margin is 50.8%, up 100 basis points.

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SOURCE Haemonetics Corporation
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