In its upcoming report, Haemonetics (HAE) is predicted by Wall Street analysts to post quarterly earnings of $0.88 per share, reflecting an increase of 14.3% compared to the same period last year. Revenues are forecasted to be $326.95 million, representing a year-over-year increase of 7.4%.The current level reflects no revision in the consensus EPS estimate for the quarter over the past 30 days. This demonstrates how the analysts covering the stock have collectively reappraised their initial projections ove ...

Haemonetics’ (HAE) major growth drivers include Plasma and the Hospital business. However, rising costs are a concern. The stock carries a Zacks Rank #3 (Hold) currently.Haemonetics’ Plasma business unit focuses on the collection of source plasma for pharmaceutical manufacturers using apheresis devices that only collect plasma. The demand for source plasma has been growing due to an expanding end-user market for plasma-derived biopharmaceuticals. The business also offers software solutions to support the op ...

Haemonetics (HAE) is likely to grow in the coming quarters due to its evolving Hospital portfolio, which is creating new opportunities for growth and diversification. The favorable prospects within the Plasma franchise also buoy optimism. The robust utilization of TEG disposables in the United States and China is driving revenues in Hemostasis Management, which is highly encouraging.Meanwhile, the impacts of economic uncertainties and foreign exchange remain concerns for the company’s operations.In the past ...

BOSTON, April 10, 2024 /PRNewswire/ -- Haemonetics Corporation (NYSE: HAE) announced that the Company intends to publish fourth quarter and fiscal year 2024 financial results at 6:00 am ET on Thursday, May 9, 2024. The Company will hold a conference call with investors and analysts to discuss results and answer questions at 8:00 am ET on May 9, 2024.The call can be accessed via teleconference at: Q4 2024 Haemonetics Corporation Earnings Conference Call. Once registration is completed, participants will rece ...

Haemonetics Corporation (HAE) announced receipt of the FDA 510(k) clearance for the TEG 6s hemostasis analyzer system Global Hemostasis-HN assay cartridge. This new cartridge expands Haemonetics' TEG 6s viscoelastic testing capabilities to include fully heparinized patients undergoing adult cardiovascular surgeries/procedures and liver transplants in both laboratory and point-of-care settings.The recent development will fortify Haemonetics’ portfolio of hemostasis diagnostic systems.More on TEG 6s Cartridge ...

BOSTON, April 4, 2024 /PRNewswire/ -- Haemonetics Corporation (NYSE: HAE), a global medical technology company focused on delivering innovative medical solutions to drive better patient outcomes, announced today that it has received 510(k) clearance from the U.S. Food and Drug Administration (FDA) for the TEG® 6s hemostasis analyzer system Global Hemostasis-HN assay cartridge. This new cartridge extends Haemonetics' TEG 6s viscoelastic testing capabilities to serve fully heparinized patients in adult cardio ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM 10-Q ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended: December 30, 2023 OR TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF ☐ 1934 Commission File Number: 001-14041 HAEMONETICS CORPORATION (Exact name of registrant as specified in its charter) Massachusetts 04-2882273 (State or other jurisdiction of incorporation or organizat ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM 10-Q ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended: September 30, 2023 OR TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF ☐ 1934 Commission File Number: 001-14041 HAEMONETICS CORPORATION (Exact name of registrant as specified in its charter) Massachusetts 04-2882273 (State or other jurisdiction of incorporation or organiza ...

[Part I. Financial Information](index=3&type=section&id=Part%20I.%20FINANCIAL%20INFORMATION) This section presents the company's unaudited condensed consolidated financial statements, management's discussion, and market risk disclosures [Financial Statements](index=3&type=section&id=ITEM%201.%20Financial%20Statements) Unaudited Q1 FY2024 financial statements show significant revenue and net income growth, with increased assets and equity, despite reduced operating cash flow from inventory build-up [Condensed Consolidated Statements of Income and Comprehensive Income](index=3&type=section&id=Condensed%20Consolidated%20Statements%20of%20Income%20and%20Comprehensive%20Income) This statement details the company's net revenues, gross profit, operating income, and net income for the quarter Income Statement Summary (Three Months Ended) | Metric | July 1, 2023 | July 2, 2022 | Change | | :--- | :--- | :--- | :--- | | **Net Revenues** | $311,332K | $261,458K | +19.1% | | **Gross Profit** | $167,265K | $142,263K | +17.6% | | **Operating Income** | $53,659K | $30,767K | +74.4% | | **Net Income** | $41,042K | $19,877K | +106.5% | | **Diluted EPS** | $0.80 | $0.38 | +110.5% | [Condensed Consolidated Balance Sheets](index=4&type=section&id=Condensed%20Consolidated%20Balance%20Sheets) This statement provides a snapshot of the company's assets, liabilities, and stockholders' equity at quarter-end Balance Sheet Highlights | Metric | July 1, 2023 | April 1, 2023 | | :--- | :--- | :--- | | **Cash and cash equivalents** | $285,719K | $284,466K | | **Total current assets** | $801,607K | $769,722K | | **Total assets** | $1,962,258K | $1,934,825K | | **Total current liabilities** | $236,939K | $251,816K | | **Long-term debt, net** | $751,381K | $754,102K | | **Total stockholders' equity** | $864,616K | $817,997K | [Condensed Consolidated Statements of Cash Flows](index=6&type=section&id=Condensed%20Consolidated%20Statements%20of%20Cash%20Flows) This statement outlines the company's cash inflows and outflows from operating, investing, and financing activities - Net cash from operating activities decreased to **$19.1 million** from **$42.0 million** year-over-year, mainly due to a significant increase in inventories (**$29.4 million** use of cash)[17](index=17&type=chunk) - Net cash used in investing activities decreased substantially to **$15.3 million** from **$58.2 million** in the prior-year period, driven by lower capital expenditures[17](index=17&type=chunk) - Net cash used in financing activities decreased to **$0.6 million** from **$23.4 million**, primarily due to lower contingent consideration payments compared to the prior year[17](index=17&type=chunk) [Notes to Unaudited Condensed Consolidated Financial Statements](index=7&type=section&id=Notes%20to%20Unaudited%20Condensed%20Consolidated%20Financial%20Statements) This section provides detailed disclosures on significant accounting policies, financial instruments, and other material events - The company made strategic investments of **$6.0 million** during the first quarter of fiscal 2024[22](index=22&type=chunk) - As of July 1, 2023, the company had **$24.6 million** of transaction price allocated to remaining performance obligations, with about **80%** expected to be recognized as revenue within the next twelve months[24](index=24&type=chunk) - Under the Operational Excellence Program, the company incurred **$2.2 million** in restructuring and related costs during the quarter, with total cumulative charges reaching **$69.4 million** towards an expected total of **$95-$105 million** by fiscal 2025[28](index=28&type=chunk) - A voluntary recall of certain Whole Blood business products was issued in August 2023, resulting in a **$3.4 million** charge for inventory in Q1 fiscal 2024[40](index=40&type=chunk) - The company has **$500.0 million** in 0% convertible senior notes due 2026 and **$273.0 million** outstanding under a term loan with an effective interest rate of **6.6%** as of July 1, 2023[43](index=43&type=chunk)[49](index=49&type=chunk) - Additional loss contingencies were recorded in Q1 fiscal 2024 related to a DOJ subpoena and a BIPA class action lawsuit, neither of which had a material impact on the financial statements[73](index=73&type=chunk)[74](index=74&type=chunk) [Management's Discussion and Analysis of Financial Condition and Results of Operations](index=20&type=section&id=ITEM%202.%20Management%27s%20Discussion%20and%20Analysis%20of%20Financial%20Condition%20and%20Results%20of%20Operations) Management reports strong Q1 FY2024 revenue growth, driven by Plasma and Hospital segments, with surging operating income and solid liquidity [Financial Summary](index=20&type=section&id=Financial%20Summary) This section provides a concise overview of the company's key financial performance metrics for the quarter Q1 FY2024 Financial Highlights vs. Q1 FY2023 | Metric | Q1 FY2024 (ended Jul 1, 2023) | Q1 FY2023 (ended Jul 2, 2022) | % Change | | :--- | :--- | :--- | :--- | | **Net Revenues** | $311,332K | $261,458K | +19.1% | | **Operating Income** | $53,659K | $30,767K | +74.4% | | **Net Income** | $41,042K | $19,877K | +106.5% | | **Diluted EPS** | $0.80 | $0.38 | +110.5% | - Revenue growth was primarily driven by volume and price benefits in the Plasma and Hospital businesses[88](index=88&type=chunk) [Results of Operations](index=21&type=section&id=Results%20of%20Operations) This section analyzes the drivers of revenue growth, gross profit, and operating expenses across business units Net Revenue Growth by Business Unit (Q1 FY2024 vs Q1 FY2023) | Business Unit | Reported Growth | Constant Currency Growth | Key Driver | | :--- | :--- | :--- | :--- | | **Plasma** | +35.4% | +35.5% | Volume and price | | **Blood Center** | +2.5% | +5.8% | Increase in apheresis business | | **Hospital** | +12.6% | +13.8% | Vascular Closure & Hemostasis Management | - Gross profit increased **17.6%** to **$167.3 million**, though the gross margin slightly decreased from **54.4%** to **53.7%** due to inventory reserves, investments, and higher depreciation, which partially offset benefits from mix, volume, and price[97](index=97&type=chunk)[98](index=98&type=chunk) - Total operating expenses increased by a modest **1.9%**, with R&D expenses up **16.0%** due to innovation investments, while SG&A expenses rose only **1.4%**[99](index=99&type=chunk)[100](index=100&type=chunk)[101](index=101&type=chunk) [Liquidity and Capital Resources](index=24&type=section&id=Liquidity%20and%20Capital%20Resources) This section discusses the company's cash position, working capital, debt, and sources of liquidity Key Liquidity Indicators | Metric | July 1, 2023 | April 1, 2023 | | :--- | :--- | :--- | | **Cash and cash equivalents** | $285,719K | $284,466K | | **Working capital** | $564,668K | $517,906K | | **Net debt position** | $(479,234)K | $(481,420)K | - Primary liquidity sources are cash on hand, cash from operations, and a **$420.0 million** senior unsecured revolving credit facility, which had no outstanding borrowings as of July 1, 2023[107](index=107&type=chunk)[109](index=109&type=chunk) - The company has **$273.0 million** outstanding under its term loan and **$500.0 million** in convertible senior notes due 2026[108](index=108&type=chunk)[110](index=110&type=chunk) - Operating cash flow decreased by **$22.9 million** year-over-year, primarily due to an increase in inventory[113](index=113&type=chunk) [Quantitative and Qualitative Disclosures about Market Risk](index=28&type=section&id=ITEM%203.%20Quantitative%20and%20Qualitative%20Disclosures%20about%20Market%20Risk) The company mitigates market risks from foreign exchange and interest rate fluctuations through derivative instruments like forward contracts and interest rate swaps - The company uses forward contracts to hedge anticipated cash flows from transactions in foreign currencies, primarily the Japanese Yen and Euro[130](index=130&type=chunk) - A **10%** strengthening of the U.S. Dollar would result in a **$3.4 million** increase in the fair value of forward contracts, while a **10%** weakening would cause a **$3.7 million** decrease[131](index=131&type=chunk) - The company uses interest rate swaps to convert a portion of its variable-rate debt to a fixed rate. As of July 1, 2023, swaps covered a notional amount of **$219.1 million** of the **$273.0 million** outstanding term loan[132](index=132&type=chunk) [Controls and Procedures](index=28&type=section&id=ITEM%204.%20Controls%20and%20Procedures) Management concluded that disclosure controls and procedures were effective, with no material changes to internal control over financial reporting during the quarter - The CEO and CFO concluded that the company's disclosure controls and procedures were effective as of the end of the period[133](index=133&type=chunk) - No changes in internal control over financial reporting occurred during the quarter that have materially affected, or are reasonably likely to materially affect, these controls[134](index=134&type=chunk) [Part II. Other Information](index=29&type=section&id=Part%20II.%20OTHER%20INFORMATION) This section provides disclosures on legal proceedings, risk factors, and other significant corporate information [Legal Proceedings](index=29&type=section&id=ITEM%201.%20Legal%20Proceedings) The company is involved in various legal proceedings, including a DOJ inquiry and a BIPA class action lawsuit, with related loss contingencies deemed immaterial - Information regarding legal proceedings is detailed in Note 13 to the financial statements[135](index=135&type=chunk) [Risk Factors](index=29&type=section&id=ITEM%201A.%20Risk%20Factors) No material changes to the risk factors previously disclosed in the Annual Report on Form 10-K for the fiscal year ended April 1, 2023 - There are no material changes from the Risk Factors disclosed in the Annual Report on Form 10-K for the fiscal year ended April 1, 2023[136](index=136&type=chunk) [Other Information](index=29&type=section&id=ITEM%205.%20Other%20Information) Certain directors and officers adopted Rule 10b5-1 trading plans for future sales of company common stock during the quarter - Certain directors and officers adopted Rule 10b5-1 trading arrangements for the sale of company common stock during the quarter[140](index=140&type=chunk)

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 Form 10-K ☑ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended April 1, 2023 ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission file number 001-14041 HAEMONETICS CORPORATION (Exact name of registrant as specified in its charter) Massachusetts 04-2882273 (State or other jurisdiction of incorpora ...