Free Research Report as Haemonetics’s Revenue Grew 2.3%; Adjusted EPS Surged 4.3%

LONDON, UK / ACCESSWIRE / December 22, 2017 / Active-Investors.com has just released a free earnings report on Haemonetics Corp. (NYSE: HAE). If you want access to this report all you need to do is sign up now by clicking the following link www.active-investors.com/registration-sg/?symbol=HAE . The Company posted its financial results for the second quarter fiscal 2018. The healthcare Company’s EPS surpassed analysts’ expectations. Register today and get access to over 1000 Free Research Reports by joining our site below:

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Active-Investors.com is focused on giving you timely information and the inside line on companies that matter to you. This morning, Haemonetics most recent news is on our radar and our team decided to put out a fantastic report on the company that is now available for free below:

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Earnings Highlights and Summary

For three months ended September 30, 2017, Haemonetics’s net revenues increased 2.3%, or 2.1% on a constant currency basis, to $225.38 million from $220.25 million in Q2 FY17. The Company’s net revenue surpassed analysts’ expectations of $220 million.

For the reported quarter, the Company’s Plasma revenue increased 6%, or 5.7% on a constant currency basis, to $109.77 million from $103.56 million in Q2 FY17. For the reported quarter, the Company’s Blood center revenue decreased 3.4% to $71.71 million from $74.27 million in Q2 FY17. For the reported quarter, the Company’s Cell processing revenue decreased 0.7% to $25.76 million from $25.96 million in Q2 FY17. For the reported quarter, the Company’s Hemostasis Management revenue increased 10.1%, or 10.4% on a constant currency basis, to $18.13 million from $16.46 million in Q2 FY17.

During Q2 FY18, Haemonetics’s gross profit increased 0.3% to $104.56 million from $104.25 million in the same period last year. For the reported quarter, the Company’s gross margin decreased 90 basis points to 46.4% of revenue from 47.3% of revenue in Q2 FY17. During Q2 FY18, Haemonetics’s adjusted gross profit increased 0.4% to $104.77 million from $104.31 million in the same period last year. For the reported quarter, the Company’s adjusted gross margin decreased 90 basis points to 46.5% of revenue from 47.4% of revenue in Q2 FY17.

During Q2 FY18, Haemonetics’s operating income decreased 2.2% to $24.26 million from $24.79 million in the same period last year. For the reported quarter, the Company’s operating margin decreased 50 basis points to 10.8% of revenue from 11.3% of revenue in Q2 FY17. During Q2 FY18, Haemonetics’s adjusted operating income increased 9.3% to $36.55 million from $33.44 million in the same period last year. For the reported quarter, the Company’s adjusted operating margin increased 100 basis points to 16.2% of revenue from 15.2% of revenue in Q2 FY17.

For the reported quarter, Haemonetics’s EBT increased 0.1% to $22.86 million, from $22.83 million in Q2 FY17. For the reported quarter, the Company’s earnings before tax (EBT) margin decreased 30 basis points to 10.1% of revenue from 10.4% of revenue in Q2 FY17.

During Q2 FY18, Haemonetics’s net income increased 1.4% to $20.10 million on a y-o-y basis from $19.83 million in the same period last year. For the reported quarter, the Company’s diluted EPS was $0.38, on par with $0.38 in the second quarter of 2017. For the reported quarter, Haemonetics’s adjusted net income increased 9.1% to $25.67 million on a y-o-y basis from $23.52 million in Q2 FY17. During Q2 FY18, the Company’s adjusted diluted EPS increased 4.3% to $0.48 on a y-o-y basis from $0.46 in the same period last year. Adjusted diluted EPS surpassed analysts’ expectations of $0.41.

Balance Sheet

As on September 30, 2017, Haemonetics’s cash and cash equivalents increased 45.9% to $203.62 million from $139.56 million on January 04, 2017. For the reported quarter, the Company’s long-term debt decreased 29.8% to $178.02 million from $253.63 million in Q4 FY17.

For the reported quarter, the Company’s net accounts receivables decreased 5.9% to $143.69 million from $152.68 million in Q4 FY17.

During H1 FY18, the Company’s net cash provided by operating activities increased 39.1% to $97.33 million from $69.96 million in the same period last year. During H1 FY18, the Company’s free cash flow increased 143.8% to $69.55 million from $28.53 million in the same period last year.

Outlook

For FY18, the Company expects adjusted diluted EPS to be in the range of $1.65 to $1.75.

Stock Performance Snapshot

December 21, 2017 – At Thursday’s closing bell, Haemonetics’ stock advanced 1.47%, ending the trading session at $58.52.

Volume traded for the day: 254.69 thousand shares.

Stock performance in the last three-month – up 36.00%; previous six-month period – up 48.87%; past twelve-month period – up 42.98%; and year-to-date – up 45.57%

After yesterday’s close, Haemonetics’ market cap was at $3.08 billion.

Price to Earnings (P/E) ratio was at 812.78.

The stock is part of the Healthcare sector, categorized under the Medical Instruments & Supplies industry. This sector was up 0.1% at the end of the session.

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