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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

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  • Improvement of 120 basis points in adjusted gross margin
  • Improvement of 260 basis points in adjusted operating margin
  • REVENUE BREAKDOWNPlasma

    Plasma disposables revenue was $75.7 million for the quarter, up $7.1 million or 10% overall and up 13% in constant currency, fueled by North America disposables growth of 14%.  In addition, a recent change to a direct business model in Australia and New Zealand led to $1.7 million of increased revenue as compared with the second quarter a year ago.Blood Center

    Platelet disposables revenue was $39.9 million, down $3.3 million or 8%, due to continued weakness in currency and reductions in distributor inventory levels.  On a constant currency basis, platelet revenue declined 5% despite 25% growth in China. 

    Red cell disposables revenue was $10.2 million for the quarter, down $1.7 million or 14% below the prior year quarter, attributable principally to continued weakness in U.S. blood collections.

    Whole blood revenue was $47.3 million in the second quarter.  In the prior year quarter, revenue was $28.6 million for the two months of the quarter following the acquisition.  Whole blood revenue was lower than in the first quarter fiscal 2014 due to normal seasonality, the impact of the previously announced loss of a European tender, and the weakening U.S. collection market.

    Hospital

    Surgical disposables revenue was $16.4 million for the quarter, down $2.5 million or 13%, and down 9% on a constant currency basis.  Revenue was negatively impacted in Europe and Japan by the return to the market of a competitor whose production operations were limited by a natural disaster in the prior year.  Additionally, protocol changes resulting from patient blood management advances continued to mute demand.

    Disposables revenue from the OrthoPAT® orthopedic perioperative autotransfusion system was $6.3 million for the quarter,
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    SOURCE Haemonetics Corporation
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