Haemonetics Posts Profit In Q1, Above Market; Revenues Miss Estimates

(RTTNews) - Healthcare company Haemonetics Corp. (HAE) reported Monday that its first-quarter fiscal 2018 net income was $20.14 million or $0.38 per share, including a gain of $8.0 million on the sale of the SEBRA line of benchtop and hand held sealers. In the prior year, the company reported a net loss of $10.35 million or $0.20 per share.

Adjusted net income was $17.5 million, up 35.5%, and adjusted earnings per share were $0.33, compared to $0.25 last year.

On average, 8 analysts polled by Thomson Reuters expected earnings of $0.31 per share n for the quarter. Analysts' estimates typically exclude special items.

Revenue of $210.95 million edged up 0.5 percent from prior year's $209.96 million. On a constant currency basis, revenue was up 1%. Analysts expected revenues of $212.12 million.

Plasma and Hospital disposables revenue grew at or above the market and the rate of decline in Blood Center revenue slowed, while ongoing cost reductions contributed to earnings and cash flow growth.