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Haemonetics Reports 3rd Quarter Fiscal 2013 Revenue Up 29% and $0.50 Adjusted EPS; Year-To-Date Organic Revenue Up 3%; Reaffirms Fiscal 2013 Adjusted EPS Guidance of $1.65-$1.70
Date:1/30/2013

BRAINTREE, Mass., Jan. 30, 2013 /PRNewswire/ -- Haemonetics Corporation (NYSE: HAE) today reported third quarter 2013 net revenue of $247.4 million, up 29%, GAAP net income of $9.9 million, down 46%, and diluted earnings per share of $0.19, down 47%. Adjusted net income, exclusive of restructuring and other costs detailed below, was $26.4 million, up 20%, and adjusted earnings per share were $0.50, up 16%.1

(Logo: http://photos.prnewswire.com/prnh/20120206/NE47232LOGO )

Organic net revenue, exclusive of the recently acquired whole blood business, was $192.5 million, up 1% in the third quarter and $558.5 million, up 3% year-to-date.  Organic growth rates were not materially impacted by currency on a quarterly or year-to-date basis.  Excluding currency impacts, net revenue was up 31% in the third quarter and 19% year-to-date.

Brian Concannon, Haemonetics' President and CEO, commented: "The highlight of our third quarter was the earnings power that became more visible in our business.  Our profitability was driven by the ongoing contribution from our recent whole blood acquisition and continued solid organic revenue growth in our Hospital business on the strength of strong demand for the Cell Saver® Elite® and TEG® disposables.  Our Hospital customers continue to embrace our Blood Management Solutions, recognizing the inherent value proposition offered."STRATEGIC AND PRODUCT GROWTH HIGHLIGHTSHaemonetics continues to make progress expanding its business, reporting the following third quarter highlights:

  • 29% revenue growth.
  • 9% growth in surgical disposables revenue.
  • 19% growth in diagnostic disposables revenue.
  • 27% organic revenue growth in China.
  • $55 million of re
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  • SOURCE Haemonetics Corporation
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