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Haemonetics Reports 2nd Quarter Fiscal 2014 Revenue Up 8%; Adjusted Operating Margin Up 260 Basis Points; and $0.66 Adjusted EPS Up 24%
Date:10/28/2013

BRAINTREE, Mass., Oct. 28, 2013 /PRNewswire/ -- Haemonetics Corporation (NYSE: HAE) today reported second quarter fiscal 2014 net revenue of $235.8 million, up 8%, GAAP net income of $16.5 million and earnings per share of $0.32.  Adjusted net income, exclusive of transformation, integration and deal amortization expenses detailed below, was $34.4 million, up 24%, and adjusted earnings per share were $0.66, up 24%.  Excluding currency impact, net revenue was up 11% in the quarter.1  The Company's base revenue, exclusive of the recently-acquired whole blood business, declined 1% in the second quarter and increased 2% on a constant currency basis.

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Brian Concannon, Haemonetics' President and CEO, commented:  "This quarter's revenue performance included a 12% increase in identified growth drivers representing over half our base revenue, offset by continued evidence of a weak U.S. market being driven by improved blood management practices.  Our focus on productivity and expense management drove solid profitability gains.  We are making excellent progress advancing our Value Creation & Capture initiatives, providing us the necessary flexibility to compete in this new environment."

STRATEGIC AND PRODUCT GROWTH HIGHLIGHTSHaemonetics cited the following highlights in its second fiscal 2014 quarter:

  • 8% total revenue growth
  • 12% organic growth in identified growth drivers
  • 10% growth in plasma disposables revenue
  • 15% growth in diagnostics disposables revenue
  • 28% organic growth in China disposables revenue
  • 18% organic growth in Russia disposables revenue
  • $47 million of revenue from the acquired whole blood business '/>"/>

  • SOURCE Haemonetics Corporation
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