Haemonetics (NYSE:HAE) posted fourth-quarter results today that beat the revenue consensus on Wall Street and missed on earnings estimates.
The company reported losses of -$11 million, or -22¢ per share, on sales of $225 million for the three months ended April 3, for a sales loss of -5.65% compared with Q4 2021.
Adjusted to exclude one-time items, earnings per share were 46¢, 21¢ behind The Street, where analysts were looking for sales of $222.98 million.
“The pandemic affected fiscal 2021, particularly our plasma business, but cost mitigation efforts coupled with the Operational Excellence Program helped dampen the impact,” CEO Chris Simon said in a news release. “We took meaningful steps to position the company for growth, including the Persona launch, the Cardiva Medical acquisition, various divestitures and the debt refinancing.”
“We remain confident in the strong end-market demand for our products and expect full recovery from the pandemic by the end of this fiscal year. Our guidance reflects the variable pace of that recovery across our different business segments. We are acting with urgency to develop a comprehensive response to the anticipated loss of a major customer in mid-calendar 2022.”
Haemonetics issued a GAAP total revenue growth guidance of 13-18% in fiscal year 2022.
Shares in HAE were down -15.76% to $50.40 apiece. MassDevice’s MedTech 100 Index — which includes stocks of the world’s largest medical device companies — was up slightly.