Haemonetics Q4 Profit Falls, But Beats Estimates - Update

(RTTNews) - (Adds Outlook)

Looking ahead, for the full year, Haemonetics Corporation (HAE) expects to report adjusted income per share of $4.45 to $4.75, above the analysts' estimate of $4.4 per share.

Revenue is projected to grow 5 percent to 8 percent. Analysts, on average, expect the firm to generate revenue of $1.37 billion, for the year.

Q4 Results:

Haemonetics revealed earnings for fourth quarter that decreased from last year but beat the Street estimates.

The company's bottom line came in at $20.367 million, or $0.40 per share. This compares with $29.383 million, or $0.57 per share, in last year's fourth quarter.

Excluding items, Haemonetics Corp reported adjusted earnings of $46.016 million or $0.90 per share for the period.

Analysts on average had expected the company to earn $0.89 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter rose 12.8% to $343.290 million from $304.416 million last year.

Haemonetics Corp earnings at a glance (GAAP) :

-Earnings (Q4): $20.367 Mln. vs. $29.383 Mln. last year. -EPS (Q4): $0.40 vs. $0.57 last year. -Revenue (Q4): $343.290 Mln vs. $304.416 Mln last year.