Haemonetics Corp. (NYSE:HAE) topped expectations for its recently concluded fiscal year, turning in adjusted net income of $74 million on $645 million in revenues during the 12 months ended March 31.
The $2.85-per-share adjusted profit in fiscal 2010 beat most analysts’ forecasts by 2 cents and marked a 16 percent jump from year-ago levels. The Braintree, Mass.-based maker of blood separation tools also said revenues should grow by up to 12 percent next year, with adjusted earnings climbing as much as 14 percent in fiscal 2011.
In prepared remarks released with the latest financial results, CEO Brian Concannon said he was “very pleased” that Haemonetics was able to deliver improved top- and bottom-line growth and expressed optimism that new products such as its Automated Whole Blood and Arryx Blood Typing systems would fuel similar gains in the future.
The 8 percent jump in overall 2010 revenues was supported by double-digit growth throughout Asia, including a 12 percent rise last year in Japan. Sales in North America were up 9 percent, while European revenues lagged somewhat at 3 percent.