Haemonetics Corp. put in another solid quarter, increasing sales and profits and reaffirming its double-digit earnings guidance for fiscal 2010.
Paced by strong second-quarter disposables sales in its plasma collection business, which saw a 19 percent uptick, the Braintree, Mass.-based company reported sales of $157 million for the three months Sept. 26, up 8 percent from $146 million during the same period last year.
“Plasma is an ongoing success story,” CFO Christopher Lindop said in a conference call with analysts Tuesday morning.
However, both he and CEO Brian Concannon said the company expects a bit of a slowdown for Haemonetics’ plasma business. In fact, on a quarter-by-quarter basis, the unit’s growth rate was slower than it was during the fiscal 2010 Q1. Both men said they were encouraged by strong growth in the company’s hospital disposals, software service and blood collection businesses.
The numbers were good enough for a more than 20 percent increase in profits, as Haemonetics reported net income of $18 million for the period. Haemonetics’ results were similarly healthy for the first six months of the fiscal year, as it posted net income of $36 million on sales of $311 million, compared with $29 million in net income on sales of $290 million during H1 2009.
That was good enough for the company to reaffirm its full-year guidance of 8 percent to 11 percent growth in sales and a 12 percent to 15 percent increase in operating income.