Haemonetics Reports Strong Results for Fourth Quarter and Fiscal Year End 2008 and Issues Guidance for Continued Strong Growth in F...( - Company Announces $60 Million...),Health

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BRAINTREE, Mass., May 1 /PRNewswire-FirstCall/ -- Haemonetics Corporation (NYSE: HAE) today reported fourth quarter fiscal 2008 GAAP net revenues of $139 million, up 19%; operating income of $20 million, down 21%; and net earnings per share of $0.52, down 29%. The Company also reported fiscal year end 2008 GAAP net revenues of $516 million, up 15%; operating income of $70 million, up 12%, and net earnings per share of $1.94, up 9%.

Excluding charges in both fiscal 2007 and 2008 and a legal settlement and certain tax benefits in 2007, fourth quarter fiscal 2008 adjusted operating income was $23 million, up 10%, and adjusted earnings per share were $0.58, level with prior year. Full year 2008 adjusted operating income was $77 million, up 10%, and adjusted earnings per share were $2.10, up 10%.(1)

Brad Nutter, Haemonetics' Chairman and CEO, said, "I am pleased to report four consecutive quarters of double digit revenue growth and double digit growth in adjusted operating income and adjusted earnings per share for the year. Growth continues to come from strength across multiple product lines and geographies, and we have a positive outlook for all these markets."

"In the year, we made good strides in our vision to be the global leader in blood management solutions for our customers. We introduced several new products in both the blood bank and hospital markets. We acquired a new device for patient blood management and a consulting and information technology platform for hospital blood management. Haemonetics now provides customers with a value proposition that includes the most extensive depth and breadth of devices, services, and information technolo
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