Haemonetics (NYSE:HAE) posted third-quarter results today that beat the consensus forecast on Wall Street and reaffirmed its total revenue guidance. The news sent shares in HAE up more than 9%.
The Boston-based company reported profits of $29.9 million, or 58¢ per share, on sales of $259 million for the three months ended Dec. 31, 2019, for a bottom-line gain of 63.6% sales growth of 4.7% compared with Q3 2018.
Adjusted to exclude one-time items, earnings per share were 94¢, 18¢ ahead of The Street, where analysts were looking for sales of $255.4 million.
“Our value drivers are powering revenue and earnings growth. We are transforming our product portfolio, reducing complexity and advancing operational excellence. We are confident in our performance and raise our adjusted operating margin, adjusted earnings per share and free cash flow guidance for fiscal 2020,” CEO Chris Simon said in a news release.
The company said it expects to log total revenue guidance of 3-5% and raised adjusted earnings per diluted share to $3.30-$3.40.
Shares in HAE closed up 9.36% to $121.82 apiece at market close today.