Full year adjusted gross margin is expected to be in a range of 50-51% inclusive of the lower gross margin whole blood product line. Adjusted operating income of $127-$130 million is expected. Free cash flow is now expected to approximate $80 million before funding restructuring, transformation and transaction costs. The paced ramp-up of expenses is expected to continue to accelerate in the fourth quarter. Accordingly, the previously indicated adjusted earnings per share range of $1.65-$1.70, up 9%-12% over fiscal 2012, is reaffirmed. Whole blood profits, IT and other costs of scaling the Company's infrastructure to meet the needs of the combined businesses, as well as amortization expenses, financing costs and income taxes are included in adjusted earnings projections.
More information on fiscal year 2013 guidance, including income statement scenarios underlying the lower and upper ends of the adjusted earnings per share guidance range, can be found in the Investor Relations section of our web site at http://www.haemonetics.com.1
Fiscal 2014 Outlook For fiscal 2014, previous indications are affirmed, as organic revenue growth is expected to approximate 5-7%. Together with a full year of revenues from the acquired whole blood business, which is expected to contribute incremental revenue of $70 million related to the timing of the acquisition, fiscal 2014 revenue is expected to surpass $1 bi
|SOURCE Haemonetics Corporation|
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