Haemonetics Q1 Loss Narrows - Quick Facts

(RTTNews) - Haemonetics Corp. (HAE) reported a first quarter net loss of $0.3 million and a GAAP net loss per share of $0.01 compared to a loss of $3.7 million or $0.07 per share, last year. Exclusive of transformation, restructuring and deal amortization expenses, adjusted net income was $18.0 million and adjusted earnings per share were $0.35, for the quarter.

On average, ten analysts polled by Thomson Reuters expected the company to report profit per share of $0.32 for the quarter. Analysts' estimates typically exclude special items.

Revenue was $213.4 million, down 4.9%. Revenue declined 2% in constant currency in the quarter. Analysts expected revenue of $215.62 million for the quarter.

The company reaffirmed its previous fiscal 2016 guidance for revenue growth of 4-6% on a reported basis and 7-9% in constant currency, still expecting approximately 46% of revenue in the first half and 54% in the second half of the fiscal year. The company reaffirmed its fiscal 2016 expectation for adjusted earnings per share in the range of $1.98 to $2.08, representing reported growth of 7-12% and constant currency growth of 15-20%. The company continues to expect approximately 35% of fiscal 2016 earnings to be realized in the first half of the year and 65% in the second half.

Analysts expect the company to report fiscal 2016 earnings per share of $2.01.