Adjusted operating income was $35.0 million for the fourth quarter, up $7.9 million or 29.1%, and $128.9 million, up $22.4 million or 21.0% for the full fiscal year, and reflected the inclusion of the profits of the newly acquired whole blood business. Adjusted operating margin was 14.0% in the fourth quarter, down 50 basis points, and 14.5% in fiscal 2013, down 10 basis points. Leverage achieved through the whole blood acquisition and operating discipline enabled accelerated funding of investments in global growth initiatives and certain expenditures related to infrastructure build for the acquired whole blood business.
The income tax rate was 21.6% in the fourth quarter, compared with 24.8% in the fourth quarter of fiscal 2012, reflecting a favorable geographic shift of income toward lower tax rate jurisdictions, a shift that is expected to continue throughout fiscal 2014. For the full years 2013 and 2012, the tax rate was 26.9%.
Hemerus Medical, LLC AcquisitionIn a separate press release, Haemonetics announced today that, on April 30, it completed the acquisition of the assets of Hemerus Medical, LLC ("Hemerus"), a Minnesota-based company that develops innovative technologies for the collection of whole blood and for the processing and storage of blood components. Haemonetics paid $24 million to date, of the total $27 million cash purchase price. Additionally, Haemonetics will pay $3 million upon receipt of an additional FDA approval and up to $14 million upon the future sale of SOLX® products.Acquisiti
|SOURCE Haemonetics Corporation|
Copyright©2012 PR Newswire.
All rights reserved