Last $35.91 USD
Change Today -0.26 / -0.72%
Volume 202.7K
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As of 4:15 PM 08/27/14 All times are local (Market data is delayed by at least 15 minutes).

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haemonetics corp/mass (HAE) Details

Haemonetics Corporation is engaged in the design, development, manufacture, and marketing of automated blood component collection devices and surgical blood salvage devices in the United States and internationally. It provides various plasma products, including PCS brand plasma collection equipment and consumables, plasma collection containers, and intravenous solutions, as well as information technology platforms for plasma customers to manage their donors, operations, and supply chain; and blood center products comprising multicomponent collection system brand apheresis equipment to collect specific blood components integrated from the donor, automated cell processor brand solution to automate the washing and freezing of red cell components in the lab, and filtration products. The company also offers various hospital products, such as TEG thrombelastograph hemostasis analyzer system that measures a patient's hemostasis or the ability to form and maintain blood clots; Cell Saver system for cardiovascular surgery procedures; OrthoPAT surgical blood salvage system for orthopedic procedures; and IMPACT Online Web-based software platform that monitors and measures improvements in a hospital’s blood management practices. In addition, it offers SafeTrace Tx and BloodTrack suite of solutions, as well as El Dorado Donor donation and blood unit management systems. The company markets and sells its products to bio-pharmaceutical companies, blood collection groups and independent blood centers, hospitals and hospital service providers, group purchasing organizations, and national health organizations through its direct sales force, as well as independent distributors. Haemonetics Corporation was founded in 1971 and is headquartered in Braintree, Massachusetts.

3,782 Employees
Last Reported Date: 05/22/14
Founded in 1971

haemonetics corp/mass (HAE) Top Compensated Officers

Chief Executive Officer, President and Direct...
Total Annual Compensation: $600.0K
Chief Financial Officer and Executive Vice Pr...
Total Annual Compensation: $718.0K
President of Global Plasma
Total Annual Compensation: $588.9K
Executive Vice President of Global Manufactur...
Total Annual Compensation: $455.0K
Chief Science & Technology Officer
Total Annual Compensation: $441.0K
Compensation as of Fiscal Year 2014.

haemonetics corp/mass (HAE) Key Developments

Haemonetics Corporation Announces Unaudited Consolidated Earnings Results for the First Quarter Ended June 28, 2014; Reaffirms Earnings Guidance for the Fiscal Year 2015; Provides Earnings Guidance for the Fiscal Year 2016

Haemonetics Corporation announced unaudited consolidated earnings results for the first quarter ended June 28, 2014. For the quarter, the company reported net revenues of $224.5 million, operating loss of $1.7 million, loss before taxes of $4.2 million and net loss of $3.6 million or $0.07 per common share assuming dilution compared to net revenues of $219.5 million, operating loss of $6.6 million, loss before taxes of $9.2 million and net loss of $7.9 million or $0.15 per common share assuming dilution reported in the same period last year. GAAP cash flow from operations was $13.7 million against $13.4 million and capital expenditures were $37.1 million against $13.1 million reported last year. Non-GAAP operating income was $28.8 million against $33.5 million reported last year. Non-GAAP income before taxes was $26.5 million against $31 million reported last year. Non-GAAP net income $19.7 million or $0.38 per common share assuming dilution against $23.8 million or $0.46 per common share assuming dilution reported last year. Non-GAAP revenue - constant currency Non-GAAP income before taxes was $215.3 million against $210.4 million reported last year. Overall fiscal 2015 revenue is affirmed at a decline of 0-2%, with $40-$50 million of revenue growth from identified growth drivers more than offset by $50-$55 million of revenue headwind from net volume and pricing declines in the U.S. blood center business and weakness in the Japanese Yen. The company affirms its full year expectations for adjusted gross margin of approximately 50%, adjusted operating income of $140-$150 million, operating margin at approximately 16%, income taxes at approximately 26% of pre-tax adjusted income, adjusted earnings per share in the range of $1.85 to $1.95, and free cash flow of approximately $120-$130 million before funding restructuring and capital investment for transformation activities. The company announced that it expect tax rate to return to around 26%, reflecting relative profitability in certain tax-efficient jurisdictions in the near term. For the fiscal 2016, the company expects to return to a mid-single digit revenue growth rate and double digit adjusted operating income and earnings per share growth rates in fiscal 2016. The VCC investments are on track to be completed in fiscal 2016, with $10-$15 million of incremental investment remaining in that year.

Haemonetics Mulls Acquisitions

Haemonetics Corporation (NYSE:HAE) is seeking acquisitions. Brian Concannon, President and Chief Executive Officer of Haemonetics Corporation, said, "But as we get through this fiscal year, with the bulk of the VCC initiatives behind us, we will continue to look aggressively at acquisitions and what they could mean."

Charles J. Dockendorff Joins Haemonetics Corporation Board of Directors

Haemonetics Corporation announced that Charles J. Dockendorff was elected to the Board of Directors at the company's annual meeting of stockholders on July 23, 2014. Mr. Dockendorff, is Executive Vice President and Chief Financial Officer with Covidien PLC. Before joining Covidien and its predecessors, Mr. Dockendorff was CFO, Vice President of Finance and Treasurer of Epsco Inc. and the CFO of Infrared Industries Inc.


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