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Haemonetics’ Q2 sales, earnings rise

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Haemonetics Corp. (NYSE:HAE) posted strong numbers during its fiscal 2011 second quarter.

The Braintree, Mass.-based blood management products and software maker reported revenues of $166.8 million during the three months ended Oct. 2, up 6.2 percent compared with $157.1 million during the same period last year. Net income rose 18.2 percent to $21.3 million, or 85 cents per diluted share, compared with $18.1 million, or 69 cents per diluted share, during Q2 2010.

Haemonetics said its business grew in all territories, especially in the Far East. Asian sales rose 27 percent, with North American sales up 5 percent and European sales up 4 percent.

Lower-than-expected plasma collection and surgical procedures prompted the company to lower its full-year sales guidance, but the company still raised its earnings forecast for fiscal 2011. Sales are now expected to grow 6 percent to 9 percent, down from prior expectations of 9 percent to 12 percent; adjusted earnings per share are now forecast at $3.18 to $3.28, up from the prior adjusted EPS forecast of $3.15 to $3.25.

HAE shares closed Oct. 29 flat at $54.65.

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