Haemonetics Corp. Swings To Profit In Q4

(RTTNews) - Haemonetics Corporation (HAE), a provider of blood and plasma supplies and services, on Tuesday posted a turnaround to profit for the fourth quarter, amidst a rise in revenue.

For the fourth quarter, the Boston-headquartered firm reported a profit of $9.741 million or $0.19 per share, compared with a loss of $11.041 million or $0.22 per share, reported for the same period, last year.

Excluding items, earnings were reported at $33.532 million or $0.65 per share, compared with $23.892 million or $0.46 per share, reported for the last quarter of 2021. Operating profit was $19.199 million, compared with an operating loss of $21.175 million, on year-on-year basis.

For the fiscal 2022, Haemonetics reported a profit of $43.375 million or $0.84 per share, compared with $79.469 million or $1.55 per share, reported for the same period, last year.

For the 12-month period, the company reported its adjusted earnings at $132.565 million or $2.58 per share, compared with $ 120.699 million or $2.35 per share, reported for the last quarter of 2021.

Haemonetics reported its operating profit for the fiscal 2022 at $80.750 million, compared with $89.747 million, on year-on-year basis.

For the fourth quarter, the company generated its revenue at $265 million, versus $225.029 million of last year.

For the full year, it posted a revenue of $993.196 million versus $870.463 million of 2021.

Looking ahead, for the fiscal 2023, the company expects a total revenue growth of 5 percent to 9 percent. It also projects its adjusted earnings per share to be in the range of $2.50 - $2.90.