Haemonetics Posts Loss In Q1 - Quick Facts

(RTTNews) - Haemonetics Corp. (HAE) reported a first-quarter net loss of $7.87 million or $0.15 per share, compared to profit of $9.79 million or $0.19 per share, last year. Adjusted net income for the quarter was $23.78 million or $0.46 per share.

On average, nine analysts polled by Thomson Reuters expected the company to report profit of $0.47 per share for the quarter. Analysts' estimates typically exclude special items. Net revenues increased to $219.54 million from $176.48 million last year. Analysts expected revenue of $232.98 million for the quarter. Excluding currency impact, net revenue was up 29% in the quarter. On an organic basis revenue declined 5% in the quarter and 2% on a constant currency basis.

The company has affirmed its fiscal 2014 guidance for adjusted earnings per share excluding acquisition related amortization to be in the previously-provided range of $2.30-$2.40. Overall fiscal 2014 organic revenue growth is expected to approximate 3-5% in constant currency and 1-3% on a reported basis. Analysts expect the company to report fiscal 2014 profit per share of $2.33.