Haemonetics Q2 Profit Tops Estimates; Reaffirms FY17 Guidance - Quick Facts

(RTTNews) - Haemonetics Corp. (HAE) reported net income of $19.8 million and $0.38 per share, up 54% and 52%, respectively, in the second quarter of fiscal 2017 compared to the same period of the prior year. Excluding restructuring, turnaround and deal amortization expenses, adjusted net income was $23.5 million and adjusted earnings per share were $0.46, up 4% and 5%, respectively, compared to the prior year second quarter. On average, nine analysts polled by Thomson Reuters expected the company to report profit per share of $0.35 for the quarter. Analysts' estimates typically exclude special items.

The company reported second quarter fiscal 2017 revenue of $220.3 million, flat with the second quarter of fiscal 2016 as reported, and up 1% in constant currency. Analysts expected revenue of $210.72 million, for the quarter.

The company reaffirmed its previously provided fiscal 2017 guidance ranges: total revenue in a range of $850-$875 million, down 4-7% from prior year on a reported basis and down 2-4% in constant currency; and earnings per share of $1.40-$1.50 on an adjusted basis.