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Haemonetics Reports 4th Quarter Fiscal 2013 Revenue Up 34% and Adjusted EPS of $0.48; Fourth Quarter and Full Year Organic Revenue Up 4% and Full Year Adjusted EPS of $1.71; Completes Hemerus Medical, LLC Acquisition and Provides Fiscal 2014 Guidanc
Date:5/1/2013

t steps beyond the integration: (I) investment in product line extensions, next generation products and growth platforms; (II) enhancement of commercial execution capabilities by implementing go-to-market and other strategies to enable global profitable revenue growth; and (III) transformation of the manufacturing network to best support these commercial strategies while optimizing expense levels.  Collectively these are opportunities to position the Company for optimal growth and competitiveness.

Transformation of the manufacturing network will take place over the next three fiscal years, and will involve changes to the current manufacturing footprint and supply chain.  Today the Company announced plans to discontinue manufacturing activities at its Braintree, Massachusetts location while creating a technology center of excellence for product development by adding scientists and engineers who will develop the next generation of new products.  The Company is currently assessing options for locating its corporate headquarters and technology center, which include the current location and other alternatives.

The Company will expand its current facility in Tijuana, Mexico and build a new manufacturing facility in Asia closer to its growing customer base in that region.  The Mexican facility expansion and the new Asian facility are foundational elements of a longer term strategy that is expected to provide a competitive cost structure and capacity that can be deployed as needs dictate going forward. 

The full implementation of that strategy is expected to generate substantial savings, beginning in fiscal 2015 and ramping up to approximately $35-$40 million of annual cost savings by fiscal 2018.  There is no net impact expected in fiscal 2014 as redundant capacity designed to mitigate the risk of the technology transfers will initially offset savings.

Mr. Concannon added: "Encouraged by our recent growth, strong
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SOURCE Haemonetics Corporation
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3. Haemonetics Provides Update on Hemerus Medical, LLC Acquisition
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