Last $44.46 USD
Change Today -0.79 / -1.75%
Volume 336.5K
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As of 8:04 PM 02/27/15 All times are local (Market data is delayed by at least 15 minutes).

haemonetics corp/mass (HAE) Key Developments

Haemonetics Corporation Opens New Manufacturing Facility in Penang, Malaysia

Haemonetics Corporation announced that it has opened a new manufacturing facility in Penang, Malaysia. To ensure the high energy efficiency and contaminant control environment, the company has incorporated clean rooms in the Malaysia facility. Key features include: anti-static raised floors, deionized air curtains, and enhanced personnel controls, such as dedicated undergarments and shoes, etc. As part of the company's business continuity plan, Malaysia's sister facility in Tijuana, Mexico is able to produce and ship the same products with the same high quality to customers in the Asia Pacific region should the need arise. The company is committed to operational excellence across the global manufacturing organization by employing lean manufacturing concepts in products, processes, and people.

Haemonetics Corporation Announces Unaudited Consolidated Earnings Results for the Third Quarter and Nine Months Ended December 27, 2014; Provides Earnings Guidance for Fiscal 2015 and 2016

Haemonetics Corporation announced unaudited consolidated earnings results for the third quarter and nine months ended December 27, 2014. For the quarter, the company reported net revenues of $231,827,000 against $242,120,000 a year ago. Operating income was $18,260,000 against $17,860,000 a year ago. Income before taxes was $15,952,000 against $15,008,000 a year ago. Net income was $15,988,000 against $16,290,000 a year ago. Net income per common share assuming dilution was $0.31 against $0.31 a year ago. GAAP cash flow from operations was $26,851,000 against $45,291,000 a year ago. Capital expenditures were $29,658,000 against $15,519,000 a year ago. Free cash flow before restructuring, transformation costs and vcc capital expenditures was $24,832,000 against $46,526,000 a year ago. Non-GAAP operating income was $38,393,000 against $42,490,000 a year ago. Non-GAAP income before taxes was $36,329,000 against $39,944,000 a year ago. Non-GAAP net income was $27,465,000 against $32,120,000 a year ago. Non-GAAP net income per common share assuming dilution was $0.53 against $0.61 a year ago. Non-GAAP revenue - constant currency was $226,580,000 against $229,855,000 a year ago. Non-GAAP net income per common share assuming dilution - constant currency was $0.46 against $0.53 a year ago. For the nine months, the company reported net revenues of $683,895,000 against $697,418,000 a year ago. Operating income was $29,002,000 against $34,681,000 a year ago. Income before taxes was $21,506,000 against $26,646,000 a year ago. Net income was $19,827,000 against $24,964,000 a year ago. Net income per common share assuming dilution was $0.38 against $0.48 a year ago. GAAP cash flow from operations was $71,831,000 against $88,053,000 a year ago. Capital expenditures were $100,530,000 against $43,721,000 a year ago. Free cash flow before restructuring, transformation costs and vcc capital expenditures was $53,153,000 against $95,078,000 a year ago. Non-GAAP operating income was $102,313,000 against $125,003,000 a year ago. Non-GAAP income before taxes was $95,522,000 against $117,584,000 a year ago. Non-GAAP net income was $71,555,000 against $90,280,000 a year ago. Non-GAAP net income per common share assuming dilution was $1.38 against $1.73 a year ago. Non-GAAP revenue - constant currency was $63,772,000 against $78,190,000 a year ago. Non-GAAP net income per common share assuming dilution - constant currency was $1.23 against $1.50 a year ago. Fiscal 2015 revenue guidance is reaffirmed at a decline of 0-2%, with revenue growth from identified growth drivers more than offset by revenue headwind from net volume and pricing declines in the U.S. blood center business, increased Japanese Yen weakness and worsening economic conditions in Russia. Full year expectations for adjusted gross margin are approximately 49%, below the prior estimate of 50%, as higher Plasma and lower Hospital revenue guidance represents unfavorable gross margin mix. Adjusted earnings per share in the range of $1.85 to $1.95 are reaffirmed. Previous free cash flow guidance of approximately $100-$110 million, before funding restructuring and capital investment for transformation activities, is also affirmed. The company expects to return to a mid-single digit revenue growth rate in fiscal 2016. Included in that outlook is the impact of the continued strengthening of the dollar, which represents a headwind, partly offset by the benefit of a 53-week fiscal year. The company expects a return to double digit constant currency adjusted operating income and earnings per share growth rates in fiscal 2016. Including the impact of a greater than 500 basis point headwind attributable to the continued strengthening of the USD the fiscal 2016 outlook is for high single to low double digit, adjusted operating income and earnings per share growth. VCC investments are on track to be completed in fiscal 2016.

Haemonetics Corporation Amends Articles of Association

On January 21, 2015, the Board of Directors of Haemonetics Corporation amended Article II of its By-Laws to require shareholders proposing business at the Annual Meeting of Shareholders to disclose certain details regarding their proposal and their economic interests, including derivative equity ownership.

Haemonetics Corporation to Report Q3, 2015 Results on Jan 29, 2015

Haemonetics Corporation announced that they will report Q3, 2015 results at 8:00 AM, Eastern Standard Time on Jan 29, 2015

Haemonetics Corporation, Q3 2015 Earnings Call, Jan 29, 2015

Haemonetics Corporation, Q3 2015 Earnings Call, Jan 29, 2015

 

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