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Haemonetics Reports Strong Results for Fourth Quarter and Fiscal Year End 2008 and Issues Guidance for Continued Strong Growth in Fiscal 2009
Date:5/1/2008

ificant transformation of our International businesses during our fiscal years 2008 and 2007. This transformation resulted in the formation of a shared service center in Europe, and exiting various offices across Europe, and Japan. We have also removed In-Process research and development expenses associated with the acquisition of Arryx, Inc. in FY07. Additionally, we removed the receipt of an award resulting from a net settlement agreement against a competitor in FY07. Lastly removed is the impact of a reduction to income tax due to the finalization of an audit of prior year income tax returns in FY07. We believe this information is useful for investors because it allows for an evaluation of the Company with a focus on the performance of our core operations.

-- Non-GAAP S,G&A and Non-GAAP Operating Expenses

The use of this non-GAAP measure allows management to monitor the

ongoing level of spend that is necessary to support the business in a

period when we are not transforming our business, or completing an

acquisition of in-process research and development. We establish our

budgets, forecasts, and performance targets excluding these costs.

-- Non-GAAP Operating Income and Non-GAAP Income Before Income Taxes

The use of these non-GAAP measures allows management to monitor the

level of operating and total pre-tax profits without the costs of our

business transformation or in-process research and development costs.

We establish our budgets, forecasts, and performance targets on this

basis.

-- Non-GAAP Operating Income and Non-GAAP Income Before Income Taxes

The use of these non-GAAP measures allows management to monitor the

level of operating and total pre-tax profits without the costs of our

business transformation or in-process research and development costs.

We establish our budgets, forecasts, and performance targ
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SOURCE Haemonetics Corporation
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