Haemonetics Not Issuing FY21 Outlook At This Time Amid COVID-19 - Quick Facts

(RTTNews) - While reporting financial results for the fourth quarter on Tuesday, healthcare company Haemonetics Corp. (HAE) said it is not issuing guidance for the full-year 2020 at this time, due to the uncertainty around the full impact and duration of the COVID-19 pandemic, and the nature and timing of the associated economic recovery.

Due to the timing of the COVID-19 pandemic and its progression during the fourth quarter, Haemonetics said it experienced limited impact on its fiscal 2020 financial results.

While the duration and additional implications of the pandemic remain uncertain, the company believes it will see higher impacts from the COVID-19 pandemic on its fiscal 2021 results.

This will be driven by the continued effects of social distancing guidelines and stay at home orders, declines of elective surgeries, restricted vendor access at customer sites, reallocation of hospital resources to critical ICU needs and other changes that may still arise as a result of COVID-19.