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Haemonetics Shares Success of Outstanding Fiscal 2009 Performance with Employees

BRAINTREE, Mass., May 4 /PRNewswire-FirstCall/ -- Haemonetics Corporation (NYSE: HAE) today reported record revenues and earnings for fiscal 2009 and its eighth consecutive quarter of double digit revenue growth. For the year, Haemonetics reported GAAP net revenues of $598 million, up 16%; operating income of $86 million, up 22%; net income of $59 million, up 14%; and earnings per share of $2.27, up 17%. The Company also announced fiscal 2010 guidance, including continued double digit growth in earnings.

Brian Concannon, President and CEO, announced to Haemonetics employees that the Company accrued in the fourth quarter a special one-time bonus to all employees around the world, with the exception of the senior leaders of the Company, to acknowledge the exceptional performance of fiscal 2009. The Company will spend approximately $2.8 million and the special bonuses will result in a payment of 2% of base salary - just over a week of pay - for nearly every Haemonetics employee worldwide. Neither Brad Nutter, Executive Chairman of the BOD, Brian Concannon, President and CEO, nor the seven other members of the company's Executive Council will receive this special bonus.

Mr. Concannon noted: "Over the last six years Haemonetics has developed a strong reputation for both delivering what we say we will do and paying our shareholders first. Over this period the company has grown from a $330 million medical device company to a $600 million global leader in Blood Management Solutions for our customers. Our 6-year compounded annual growth rates of 10% in revenues, 23% in operating income, and 19% for earnings per share speak to a track record of strong performance. Recognizing the pivotal role that our employees have played in our success, we had the opportunity to grant this special award while still exceeding our business plan and growth goals for fiscal 2009."

In his announcement of the special bonus to employees, Mr. Concannon contrasted the actions taken by Haemonetics with the overall economic environment, saying, "Because of our strong financial discipline and the continued demand for our products and services, we are distinguishing ourselves as a better company at which to work in this increasingly unstable global environment. We have transformed our company and we are working hard to help our customers to transform our industry. I have never been more encouraged and invigorated about our prospects to continue to grow than I am today. We will continue to set high goals for ourselves and exercise strong financial discipline in managing resources."

Haemonetics employs approximately 2,000 people in 17 countries and has its headquarters in Braintree, Massachusetts.

Haemonetics (NYSE: HAE) is a global healthcare company dedicated to providing innovative blood management solutions for our customers. Together, our devices and consumables, IT products, and consulting services deliver a suite of business solutions to help our customers improve clinical outcomes and reduce the cost of healthcare for blood collectors, hospitals, and patients around the world. Our technologies address important medical markets: blood and plasma component collection, the surgical suite, and hospital transfusion services. To learn more about Haemonetics, visit our web site at

    Julie Fallon
    Tel. (781) 356-9517
    Alt. Tel. (617) 320-2401

SOURCE Haemonetics Corporation
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