Exhibit 99.1
HAEMONETICS(R) REPORTS SOLID OPERATING RESULTS FOR THIRD QUARTER FISCAL 2007
COMPANY UPDATES ANNUAL GUIDANCE
BRAINTREE, Mass., Jan. 31 /PRNewswire-FirstCall/ -- Haemonetics Corporation
(NYSE: HAE) reported third quarter fiscal 2007 GAAP net revenue of $114 million,
up 7.4% over prior year, and earnings per share of $0.62, down from $1.01 in the
third quarter of last year. Last year's comparison includes a $0.61 per share
benefit of a non-operating arbitration award.
Adjusted earnings per share for the quarter, excluding certain charges and
benefits(1), were $0.55 for the quarter, up 34.5%.
Brad Nutter, Haemonetics' President and CEO, said, "I'm pleased that we
continue to deliver solid financial performance. Over the last three years we've
consistently achieved double digit operating income growth on high single digit
revenue growth. This quarter was the same. Adjusted for certain charges and
benefits(1) we delivered 30% operating income growth on 7% revenue growth."
SUMMARY FINANCIAL RESULTS
GAAP results versus FY06 are as follows:
* Revenue of $114 million for Q3:07, up 7.4%, and $333 million year-to-
date, up 7.5%
* Gross profit of $56 million for Q3:07, up 1.3%, and $169 million year-
to-date, up 4.3%
* Operating expense of $39 million for Q3:07, up 171.3%, and $132 million
year-to-date, up 51.1%
* Operating income of $17 million for Q3:07, down 58.7%, and $37 million
year-to-date, down 50.4%
* Earnings per share of $0.62 for Q3:07, down 38.8%, and $1.06 year-to-
date, down 43.5%
* Gross margin of 49.7% for Q3:07, down 300 basis points, and 50.8% year-
to-date, down 160 basis points
* Operating margin of 15% for Q3:07, down 2390 basis points, and 11.1%
year-to-date, down 1300 basis points
Adjusted(1) results versus FY06 are as follows:
* Revenue of $114 million for Q3:07, up 7.4%, and $333 million year-to-
date, up 7.5%
* Gross profit of $56 million for Q3:07, up 1.4%, and $169 million year-
to-date, up 4.4%
* Operating expense of $37 million for Q3:07, down 9.0%, and $112 million
year-to-date, down 0.6%
* Operating income of $19 million for Q3:07, up 29.7%, and $57 million
year-to-date, up 16.1%
* Earnings per share $0.55 for Q3:07, up 34.5%, and $1.52 year-to-date, up
18.8%
* Gross margin of 49.7% for Q3:07, down 300 basis points, and 50.8% year-
to-date, down 160 basis points
* Operating margin of 17.1% for Q3:07, up 290 basis points, and 17.0%
year-to-date, up 120 basis points
* Tax rate of 31.0% in Q3:07 vs. 32.8% in Q3:06, and 33.5% year-to-date,
versus 34.2% in prior year
BALANCE SHEET
Year-to-date, Haemonetics' cash declined $23 million, for a cash balance of
$228 million. In Q3 Haemonetics completed a $40 million share repurchase program
initiated in Q2. The Company repurchased 853,000 shares under the program. The
Company generated $26 million in cash flow from operating activities for the
quarter and $59.4 million year-to-date, and achieved record low DSO (days sales
outstanding).
DONOR PRODUCT LINE
Worldwide plasma disposables revenue was $32 million for the quarter, up
17.8% over Q3:06, and $96 million year-to-date, up 19.3%. Plasma disposable
sales benefited from continued growth in U.S. and European plasma collections
and from several new customer contracts. Haemonetics also announced a new
contract with Talecris Plasma Resources, valued at over $120M over five years,
to supply Talecris centers with the Company's plasma collection systems and 5D
software services. Talecris is one of the three global leaders in plasma
collection and fractionation. It recently purchased 58 plasma collection centers
from International BioResources, ("IBR").
Stephen Swenson, Haemonetics' VP & General Manager of Global Plasma, said,
"IBR was a Haemonetics customer and we are pleased to be retaining this
business. We are also excited about the growth outlook for Talecris."
Thirty-three Talecris centers operate today and another 25 are planned to open
over the next year.
Worldwide blood bank disposables revenue was $31 million for the quarter,
down 7.8% from Q3:06, and $94 million year-to-date, down 4.5%. The majority of
blood bank sales are platelet disposables. The Company continued to experience a
changing market place in Japan.
Red cell disposables revenue benefited from unit growth in both the U.S. and
Europe. Worldwide red cell disposables revenue was $11 million for the quarter,
up 19.6% over Q3:06, and $32 million year-to-date, up 20.4%. Automation
continues to be driven by customer interest in improving blood availability as
well as operational efficiency.
PATIENT PRODUCT LINE
The Company reported ongoing progress in its transition to direct U.S. sales
of the OrthoPAT(R) system. U.S. OrthoPAT disposables revenue grew 53.2%.
Worldwide OrthoPAT disposables revenue was $7 million, up 31.5% over Q3:06, and
$22 million year-to-date, up 39.9%. OrthoPAT revenue growth was driven by U.S.
price improvement.
Surgical disposables revenue, principally Cell Saver(R) systems, was $17
million in the quarter, up 1.2% from Q3:06, and $49 million year-to-date, level
with prior year. As previously stated, the market served by the Cell Saver 5+ is
a mature market.
OTHER PRODUCTS
Equipment sales in the quarter were $5 million, down 10.6% from Q3:06, and
$15 million year-to-date, down 18.0%. Equipment sales vary from quarter to
quarter and year to year. In the year, Haemonetics is comparing against strong
FY06 equipment sales stemming from the introduction of the Cell Saver 5+ system
and sales of ACP(R) 215 systems.
Sales designated "Services and Miscellaneous," driven by the service
offerings of the Company's 5D(TM) Information Management division, grew to $9
million in the quarter, up 33.9% over Q3:06, and $24 million year-to-date, up
19.4%. 5D's growth is being driven principally by two factors: 1) new contracts
with the US Department of Defense relating to the military's blood supply, and
2) increasing plasma collections at Haemonetics' plasma customers served by 5D
information systems. The Company also announced that as part of the Talecris
plasma contract noted above, 5D will automate Talecris' plasma centers with its
proprietary information management systems.
Brad Nutter said, "Our information management and services business that
includes 5D continues to grow rapidly. On a year-to-date basis, this business is
now of a size comparable to our OrthoPAT and red cell product lines. This sales
growth is having a meaningful impact on total revenues."
Haemonetics recently announced the acquisition of IDM Medical Software, a
company whose proprietary information technology for blood banks will complement
5D's suite of software products for the plasma industry. The combination of
these two market leaders in the growing market of information management systems
to manage the blood supply chain will enable Haemonetics to build an
"information super highway" in support of its vision to be the global leader in
blood management solutions. IDM's annual GAAP revenues are more than $6 million.
FY07 GUIDANCE
FY07 guidance on adjusted results should be measured against adjusted FY06
results.
Haemonetics' revenue continues to be impacted by sales declines in the
Japanese business. As a result, annual FY07 guidance on adjusted results is
updated to:
* Revenue growth of 7-9%
* Gross margin of approximately 51%
* Operating income growing low double digits
* Operating margins improving to approximately 18%
* Earnings per share in the range of $2.05 to $2.17
For comparison purposes, the FY06 adjusted results exclude the benefit of an
arbitration award received Q3:06 which added $26.4 million to operating income
and $0.62 to earnings per share.
The FY07 guidance is based on anticipated annual results, adjusted to
exclude five items: 1) the impact from stock compensation expense (FAS 123R),
expected to be approximately $10 million (pre-tax), or $0.25 per share with
costs spread throughout the year; 2) a restructuring charge of $3-4 million
(pre-tax), or $0.07 to $0.09 per share, with costs spread throughout the year;
3) an in-process R&D charge of $9 million (pre- and after tax), or $0.34 per
share, related to the Company's acquisition of Arryx in Q2:07; 4) a one-time tax
benefit of $4 million, or $0.13 per share, in the third quarter and
year-to-date; and 5) receipt during the fourth quarter of $6 million in
settlement of a legal claim against Baxter Healthcare.
Haemonetics' FY07 GAAP earnings per share guidance is $1.62 to $1.76.
CONFERENCE CALL
Haemonetics will hold a conference call on Wednesday, January 31st at 10:00
am Eastern to discuss these results. Interested parties can participate in the
conference call by dialing (800) 690-3108 (U.S. only) or (973) 935-8753 with
conference ID 8282786. The call will be replayed through February 14th at (877)
519-4471 (U.S. only) or (973) 341-3080 using PIN 8282786.
Haemonetics (NYSE: HAE) is a global company engaged in the design,
manufacture and worldwide marketing of automated blood processing systems. These
systems address important medical markets: surgical blood salvage, blood
component collection, plasma collection, and blood component safety. To learn
more about Haemonetics' products and markets, visit its web site at
http://www.haemonetics.com.
Haemonetics has presented supplemental non-GAAP financial results as part of
this release which exclude the resolution of a tax contingency, stock
compensation expense, restructuring costs, and an in-process research and
development charge and other unusual items associated with the acquisition of
Arryx. Haemonetics believes that a presentation of these non-GAAP results are
useful to investors because it allows for an evaluation of the Company with a
focus on the results of our core business.
This release contains forward-looking statements that involve risks and
uncertainties, including technological advances in the medical field and
standards for transfusion medicine and our ability to successfully implement
products that incorporate such advances and standards, product demand, market
acceptance, regulatory uncertainties, the effect of economic and political
conditions, the impact of competitive products and pricing, blood product
reimbursement policies and practices, foreign currency exchange rates, changes
in customers' ordering patterns, the effect of industry consolidation as seen in
the plasma market, the effect of communicable diseases and the effect of
uncertainties in markets outside the U.S. (including Europe and Asia) in which
we operate and other risks detailed in the Company's filings with the Securities
and Exchange Commission. The foregoing list should not be construed as
exhaustive. The forward-looking statements are based on estimates and
assumptions made by management of the Company and are believed to be reasonable,
though are inherently uncertain and difficult to predict. Actual results and
experience could differ materially from the forward-looking statements.
(1) As indicated in the attachment titled, "Consolidated Statements of
Income Adjusted for the Effect of Stock Based Compensation Expense,
Restructuring Costs, Arryx IPRD, and Other Unusual Charges." Haemonetics'
FY07 GAAP financial results include three, previously announced, items:
* FAS 123R required stock option expense (pre-tax) charges of $2 million, or
$0.06 per share, for the quarter, and $7 million, or $0.19 per share,
year-to-date;
* restructuring costs in connection with changes to the Company's
international operations resulting in (pre-tax) charges of $0.3 million,
or $0.01 per share, for the quarter, and $3 million, or $0.07 per share,
year-to date; and,
* an in-process R&D charge arising from the second quarter acquisition of
Arryx resulting in a (pre- and after tax) charge which had no impact on
the quarter, but resulted in a charge of $9 million, or $0.34 per share,
year-to-date
Additionally, Haemonetics announced today that it has received a one-time
tax benefit from a resolution of tax contingencies resulting in a benefit of $4
million, or $0.13 per share, for the quarter and year-to-date.
HAEMONETICS CORPORATION FINANCIAL SUMMARY
(UNAUDITED DATA IN THOUSANDS, EXCEPT PER SHARE DATA)
CONSOLIDATED STATEMENTS OF INCOME
FOR THE THIRD QUARTER FYE07
% Inc/(Dec)
12/30/06 12/31/05 vs Prior
As Reported As Reported Year
------------ ------------ ------------
NET REVENUES $ 113,527 $ 105,677 7.4%
Gross profit 56,419 55,669 1.3
R&D 5,804 9,463 (38.7)
S,G&A 33,610 31,250 7.6
Arbitration Award - Baxter 0 (26,350) ----
Cost to Equity 0 165 ----
Operating expenses 39,414 14,528 171.3
Operating income 17,005 41,141 (58.7)
Interest expense (342) (435) (21.4)
Interest income 1,925 2,875 (33.0)
Other income/(expense), net 816 742 10.0
Income before taxes 19,404 44,323 (56.2)
Tax expense 2,503 16,399 (84.7)
NET INCOME $ 16,902 $ 27,924 (39.5)
Net income per common share
assuming dilution $ 0.62 $ 1.01 (38.8)%
Weighted average number of shares
Basic 26,527 26,542
Diluted 27,367 27,646
Inc/(Dec) vs
prior year
12/30/06 12/31/05 profit
As Reported As Reported margin %
------------ ------------ ------------
Profit Margins:
Gross profit 49.7% 52.7% (3.0)%
R&D 5.1% 9.0% (3.9)%
S,G&A 29.6% 29.6% ----
Operating income 15.0% 38.9% (23.9)%
Income before taxes 17.1% 41.9% (24.8)%
Net income 14.9% 26.4% (11.5)%
CONSOLIDATED STATEMENTS OF INCOME FOR FYE07 YEAR TO DATE
% Inc/(Dec)
12/30/06 12/31/05 vs Prior
As Reported As Reported Year
------------ ------------ ------------
NET REVENUES $ 332,688 $ 309,338 7.5%
Gross profit 168,953 161,958 4.3
R&D 17,345 21,287 (18.5)
S,G&A 105,258 91,841 14.6
Arbitration Award - Baxter 0 (26,350) ----
In Process R&D 9,073 0 ----
Cost to Equity 225 527 (57.3)
Operating expenses 131,901 87,305 51.1
Operating income 37,052 74,653 (50.4)
Interest expense (1,187) (1,498) (20.8)
Interest income 5,902 5,271 12.0
Other income/(expense), net 2,153 2,087 3.2
Income before taxes 43,920 80,513 (45.4)
Tax expense 14,595 29,122 (49.9)
NET INCOME $ 29,324 $ 51,391 (42.9)
Net income per common share
assuming dilution $ 1.06 $ 1.87 (43.5)%
Weighted average number of shares
Basic 26,838 26,406
Diluted 27,754 27,413
% Inc/(Dec)
12/30/06 12/31/05 vs Prior
As Reported As Reported Year
------------ ------------ ------------
Profit Margins:
Gross profit 50.8% 52.4% (1.6)%
R&D 5.2% 6.9% (1.7)%
S,G&A 31.6% 29.7% 1.9%
Operating income 11.1% 24.1% (13.0)%
Income before taxes 13.2% 26.0% (12.8)%
Net income 8.8% 16.6% (7.8)%
REVENUE ANALYSIS FOR THE THIRD QUARTER FYE07
12/30/06 12/31/05
As Reported As Reported % Inc/(Dec)
------------ ------------ ------------
Revenues by Geography
United States $ 49,819 $ 40,077 24.3%
International 63,708 65,600 (2.9)
Net Revenues $ 113,527 $ 105,677 7.4
Disposable Revenues by Product Family
Donor:
Plasma $ 32,362 $ 27,461 17.8
Blood Bank 30,954 33,588 (7.8)
Red Cell 11,132 9,304 19.6
$ 74,448 $ 70,353 5.8
Patient:
Surgical 16,989 16,791 1.2
Orthopat 7,491 5,697 31.5
$ 24,480 $ 22,488 8.9
Subtotal $ 98,928 $ 92,841 6.6
Equipment $ 5,194 $ 5,813 (10.6)
Misc & Service 9,405 7,023 33.9
Net Revenues $ 113,527 $ 105,677 7.4%
REVENUE ANALYSIS FOR FYE07 YEAR TO DATE
12/30/06 12/31/05
As Reported As Reported % Inc/(Dec)
------------ ------------ ------------
Revenues by Geography
United States $ 143,050 $ 116,230 23.1%
International 189,638 193,108 (1.8)
Net Revenues $ 332,688 $ 309,338 7.5
Disposable Revenues by Product Family
Donor:
Plasma $ 96,253 $ 80,702 19.3
Blood Bank 93,998 98,471 (4.5)
Red Cell 32,105 26,662 20.4
$ 222,356 $ 205,835 8.0
Patient:
Surgical 49,298 49,281 ----
Orthopat 22,132 15,822 39.9
$ 71,430 $ 65,103 9.7
Subtotal $ 293,786 $ 270,938 8.4
Equipment $ 15,207 $ 18,547 (18.0)
Misc & Service 23,695 19,853 19.4
Net Revenues $ 332,688 $ 309,338 7.5%
Consolidated Balance Sheets
Period ending
-----------------------
12/30/06 4/1/06 (1)
---------- ----------
Assets
Cash & cash equivalents $ 227,707 $ 250,667
Accounts receivable, net 85,988 86,901
Inventories, net 59,680 54,571
Other current assets 25,138 26,265
Total current assets 398,513 418,404
Net PP&E 84,050 75,266
Other assets 67,305 51,787
Total assets $ 549,868 $ 545,457
Period ending
-----------------------
12/30/06 4/1/06 (1)
---------- ----------
Liabilities & Stockholders' Equity
S/T debt & current maturities $ 23,248 $ 26,176
Other current liabilities 62,701 61,940
Total current liabilities 85,949 88,116
Long-term debt 6,828 12,977
Other long-term liabilities 3,747 3,800
Stockholders' equity 453,344 440,564
Total liabilities & equity $ 549,868 $ 545,457
THIRD QUARTER FYE07
CONSOLIDATED STATEMENTS OF INCOME ADJUSTED FOR THE
EFFECT OF STOCK BASED COMPENSATION EXPENSE,
RESTRUCTURING COSTS
& ARRYX IPRD AND OTHER UNUSUAL CHARGES
Effect of
Stock Based
12/30/06 Resolution of Tax Compensation
As Reported Contingencies (3) Expense (4)
------------ ----------------- ------------
NET REVENUES $ 113,527 $ 0 $ 0
Gross profit 56,419 0 (45)
R&D 5,804 0 70
S,G&A 33,610 0 2,011
Operating expenses 39,414 0 2,081
Operating income 17,005 0 (2,126)
Interest expense (342) 0 0
Interest income 1,925 0 0
Other income/(expense), net 816 0 0
Income before taxes 19,404 0 (2,126)
Tax expense 2,503 (3,568) (594)
NET INCOME $ 16,902 $ 3,568 $ (1,532)
Net income per common share
assuming dilution $ 0.62 $ 0.13 $ (0.06)
Weighted average number of shares
Basic 26,527 26,527 26,527
Diluted 27,367 27,367 27,367
12/30/06
As Reported
------------
Profit Margins:
Gross profit 49.7%
R&D 5.1%
S,G&A 29.6%
Operating income 15.0%
Income before taxes 17.1%
Net income 14.9%
THIRD QUARTER FYE07
CONSOLIDATED STATEMENTS OF INCOME ADJUSTED FOR THE
EFFECT OF STOCK BASED COMPENSATION EXPENSE,
RESTRUCTURING COSTS
& ARRYX IPRD AND OTHER UNUSUAL CHARGES
Adjusted %
Inc/(Dec)
Restructuring 12/30/06 12/31/05 vs Prior
Costs(5) As Adjusted(6) As Adjusted(7) Year
------------- -------------- -------------- -------------
NET REVENUES $ 0 $ 113,527 $ 105,677 7.4%
Gross profit 0 56,464 55,669 1.4
R&D 0 5,734 9,463 (39.4)
S,G&A 265 31,334 31,250 0.3
Operating expenses 265 37,068 40,713 (9.0)
Operating income (265) 19,396 14,956 29.7
Interest expense 0 (342) (435) (21.4)
Interest income 0 1,925 1,542 24.8
Other income/(expense), net 0 816 742 10.0
Income before taxes (265) 21,795 16,805 29.7
Tax expense (88) 6,753 5,504 22.7
NET INCOME $ (177) $ 15,042 $ 11,301 33.1
Net income per common share
assuming dilution $ (0.01) $ 0.55 $ 0.41 34.5%
Weighted average number of shares
Basic 26,527 26,527 26,542
Diluted 27,367 27,367 27,646
Inc/(Dec)
12/30/06 12/31/05 vs prior year
As Adjusted(6) As Adjusted(7) profit margin %
-------------- -------------- ---------------
Profit Margins:
Gross profit 49.7% 52.7% (3.0)%
R&D 5.1% 9.0% (3.9)%
S,G&A 27.6% 29.6% (2.0)%
Operating income 17.1% 14.2% 2.9%
Income before taxes 19.2% 15.9% 3.3%
Net income 13.2% 10.7% 2.5%
FYE07 YEAR TO DATE
CONSOLIDATED STATEMENTS OF INCOME ADJUSTED FOR THE EFFECT OF STOCK
BASED COMPENSATION EXPENSE, RESTRUCTURING COSTS
& ARRYX IPRD AND OTHER UNUSUAL CHARGES
Effect of
Arryx IPRD Stock Based
12/30/06 and Other Resolution of Tax Compensation
As Reported Unusual(2) Contingencies (3) Expense (4)
------------ ------------ ----------------- ------------
Income Statement:
NET REVENUES $ 332,688 $ 0 $ 0 $ 0
Gross profit 168,953 0 0 (157)
R&D 17,345 0 0 244
S,G&A 105,258 0 0 7,019
In-Process R&D 9,073 9,073 0 0
Cost to Equity 225 225 0 0
Operating expenses 131,901 9,298 0 7,263
Operating income 37,052 (9,298) 0 (7,420)
Interest expense (1,187) 0 0 0
Interest income 5,902 0 0 0
Other income/(expense), net 2,153 0 0 0
Income before taxes 43,920 (9,298) 0 (7,420)
Tax expense 14,595 0 (3,568) (2,125)
NET INCOME $ 29,324 $ (9,298) $ 3,568 $ (5,295)
Net income per common
share assuming dilution $ 1.06 $ (0.34) $ 0.13 $ (0.19)
Weighted average number
of shares
Basic 26,838 26,838 26,838 26,838
Diluted 27,754 27,754 27,754 27,754
12/30/06
As Reported
------------
Profit Margins:
Gross profit 50.8%
R&D 5.2%
S,G&A 31.6%
Operating income 11.1%
Income before taxes 13.2%
Net income 8.8%
FYE07 YEAR TO DATE
CONSOLIDATED STATEMENTS OF INCOME ADJUSTED FOR THE EFFECT OF STOCK
BASED COMPENSATION EXPENSE, RESTRUCTURING COSTS
& ARRYX IPRD AND OTHER UNUSUAL CHARGES
Adjusted %
Inc/(Dec)
Restructuring 12/30/06 12/31/05 vs Prior
Costs(5) As Adjusted(6) As Adjusted(7) Year
------------- -------------- -------------- -------------
Income Statement:
NET REVENUES $ 0 $ 332,688 $ 309,338 7.5%
Gross profit 0 169,110 161,958 4.4
R&D 0 17,101 21,287 (19.7)
S,G&A 2,932 95,307 91,841 3.8
In-Process R&D 0 0 0 ---
Cost to Equity 0 0 0 ---
Operating expenses 2,932 112,408 113,128 (0.6)
Operating income (2,932) 56,702 48,830 16.1
Interest expense 0 (1,187) (1,498) (20.8)
Interest income 0 5,902 3,938 49.9
Other income/(expense), net 0 2,153 2,087 3.2
Income before taxes (2,932) 63,570 53,357 19.1
Tax expense (1,004) 21,292 18,227 16.8
NET INCOME $ (1,928) $ 42,278 $ 35,130 20.3
Net income per common
share assuming dilution $ (0.07) $ 1.52 $ 1.28 18.8%
Weighted average number of shares
Basic 26,838 26,838 26,406
Diluted 27,754 27,754 27,413
Inc/(Dec)
vs prior
year
12/30/06 12/31/05 profit
As Adjusted(6) As Adjusted(7) margin %
-------------- -------------- ---------
Profit Margins:
Gross profit 50.8% 52.4% (1.6)%
R&D 5.1% 6.9% (1.8)%
S,G&A 28.6% 29.7% (1.1)%
Operating income 17.0% 15.8% 1.2%
Income before taxes 19.1% 17.2% 1.9%
Net income 12.7% 11.4% 1.3%
(1) Reflects the adjustment to convert our investment in Arryx, Inc. to the
equity method.
(2) IPRD and Cost to Equity impact of Arryx acquisition.
(3) Income tax expense was reduced during the quarter due to the finalization
of an audit of prior year income tax returns.
(4) Stock based compensation expense related to the adoption of FAS 123R.
(5) Restructuring costs primarily include severance and related costs
associated with eliminating or reorganizing certain positions in our
international business operations.
(6) "As Adjusted" for FY 07 is comprised of "As Reported" less the "Effect of
Stock Based Compensation," "Restructuring Costs" & "Arryx IPRD and Other
Unusual Charges."
(7) "As Adjusted" for FY 06 excludes the restatement of our financial results
to reflect our investment in Arryx on the equity method and the elimination
of the Arbitration Award from Baxter.
CONTACT:
Julie Fallon
Tel. (781) 356-9517
Alternate Tel. (617) 320-2401
fallon@haemonetics.com
SOURCE Haemonetics Corporation
-0- 01/31/2007
/CONTACT: Julie Fallon of Haemonetics Corporation, +1-781-356-9517,
+1-617-320-2401, or fallon@haemonetics.com /
/Web site: http://www.haemonetics.com/
(HAE)