Haemonetics Q1 Results Top Estimates - Quick Facts

(RTTNews) - Haemonetics (HAE), a provider of blood management solutions, Wednesday said first-quarter net loss narrowed to $3.65 million from $7.87 million last year.

Net loss per share was $0.07 compared to $0.15 last year.

Adjusted earnings per share was $0.38, while it totaled $0.46 last year. On average, 11 analysts polled by Thomson Reuters expected earnings of $0.36 per share for the quarter. Analysts' estimates typically exclude special items.

Net revenues improved to $224.49 million from $219.54 million in the prior year. Analysts expected revenues of $215.85 million.

Brian Concannon, Haemonetics' President and CEO, said, "We expect the combination of our identified growth drivers to continue to deliver double-digit revenue increases, but to be offset by the impact of blood management practice improvements, and lower share and pricing in our U.S. whole blood business for fiscal 2015. We continue to expect these headwinds to abate in fiscal 2016."

Looking ahead, the firm affirmed its full year expectations of adjusted earnings per share in the range of $1.85 to $1.95. Overall fiscal 2015 revenue is affirmed at a decline of 0-2 percent.Analysts expect earnings of $1.89 per share for the year.

In fiscal 2016, the company expects to return to a mid-single digit revenue growth rate and double digit adjusted operating income and earnings per share growth rates.