Haemonetics Q4 Profit Tops Estimates; Appoints Said Bolorforosh CTO

(RTTNews) - Haemonetics Corp. (HAE) reported fourth-quarter adjusted net income of $23.3 million, up 14.2%, and adjusted earnings per share of $0.43, up 10.3% versus $0.39 in the fourth quarter of fiscal 2017. On average, eight analysts polled by Thomson Reuters expected the company to report profit per share of $0.42 for the quarter. Analysts' estimates typically exclude special items. On a constant currency basis, revenue for the fourth quarter of fiscal 2018 was up 0.2% compared to the fourth quarter of fiscal 2017.

Separately, Haemonetics announced it has appointed Said Bolorforosh Executive Vice President and Chief Technology Officer, effective May 21, 2018. Bolorforosh will lead the company's innovation agenda and oversee research, development and medical and clinical affairs. He will also be responsible for developing technical capabilities and optimizing product and technology investments to drive accelerated growth. Prior to joining Haemonetics, Bolorforosh was President, Ultrasound, at Siemens Healthcare.