Haemonetics (NYSE:HAE) posted first-quarter results this week that beat the overall consensus on Wall Street.
The Boston-based hematology device company reported losses of -$4.5 million, or -9¢ per share, on sales of $228.5 million for the three months ended July 3, for a sales growth of 16.85% compared with Q1 2021.
Adjusted to exclude one-time items, earnings per share were 50¢, 4¢ ahead of The Street, where analysts were looking for sales of $219.4 million.
“Our first-quarter performance is a positive start to the year, supported by recovery across all of our businesses, especially Hospital, and the initial Plasma Persona rollouts. We remain confident in the strong end-market demand for our products and continue to anticipate full recovery from the pandemic by the end of this fiscal year. Our revised Operational Excellence program will drive quality, service and greater productivity, while helping us to offset impacts of the anticipated customer loss, the effects of the COVID-19 pandemic and rising inflationary pressures,” CEO Chris Simon said in a news release.
Haemonetics affirmed its 2022 guidance and anticipates GAAP revenue to be in the growth range of 13% to 18%.
Shares in HAE were up 3.98% to $60.06 apiece in early morning trading. MassDevice‘s MedTech 100 Index, — which includes stocks of the world’s largest medical device companies — was up 0.1%.