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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

llion.  The Company's previously provided preliminary outlook for fiscal 2014 adjusted earnings per share of $1.95-$2.05, approximately 20% above fiscal 2013 expected earnings per share, is affirmed.  Included in these amounts are approximately $27 million or $0.35 per share of acquisition related amortization expense.

Mr. Concannon added: "Our growth and strong profitability are enabling us to fund key identified growth initiatives and new product offerings.  Using our enhanced process for new product introduction that has driven success of the Cell Saver Elite device, we will soon launch the paperless phlebotomy offering in a limited whole blood market release later in the fourth quarter.  The OrthoPAT Advance device will follow in the first half of fiscal 2014.  We remain confident in our business fundamentals, our fiscal 2013 earnings guidance and our fiscal 2014 preliminary outlook."

Balance Sheet and Cash FlowCash on hand was $193 million, an increase of $6 million during the quarter.  The Company reported year-to-date free cash flow before restructuring, transformation, integration and transaction costs of $46 million, a reduced level from the prior year due to the anticipated buildup of certain required elements of working capital not acquired.

Stock SplitThe Company completed its previously announced two-for-one stock split during the third quarter and, accordingly, all references to earnings per share amounts have been adjusted to reflect that split.  Each share of the Company's pre-split common stock held by a shareholder, including shares subject to outstanding stock options and shares available for grant under the Company's equity incentive plans, were represented by two shares of the Company's post-split common stock.  The split affected all stockholders uniformly and did not affect any stockholder's ownership percentage.

Fiscal 2013 Share Repurchase ProgramReported on a post-split b
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SOURCE Haemonetics Corporation
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