Plasma revenue lifts Haemonetics fiscal 2Q profit

Haemonetics profit rises on improved plasma and platelet revenue, company backs forecasts

• On 12:54 pm EST, Monday November 2, 2009

BRAINTREE, Mass. (AP) -- Haemonetics Corp. said Monday its profit grew 22 percent in the fiscal second quarter due to improved revenue from products used in collecting blood plasma.

The blood collection and processing systems maker said its profit rose to $18.1 million, or 69 cents per share. That compares with $14.8 million, or 57 cents per share, a year ago. Revenue increased 8 percent, to $157.1 million from $145.9 million.

Analysts were expecting 65 cents per share and $157.8 million in revenue, according to a Thomson Reuters survey.

In the three months ended Sept. 26, Haemonetics said plasma disposables revenue climbed 19 percent to $59 million, and platelet disposables revenue rose 3 percent to $37 million. Red cell disposables revenue fell 2 percent to $11 million and software solutions revenue rose 29 percent to $9 million.

For the full year, the company maintained its profit forecast of $2.75 to $2.85 per share, with revenue growth of 8 to 11 percent. Haemonetics reported $598 million in revenue in fiscal 2009, so the outlook implies $645.8 million to $663.8 million in revenue.

Analysts expect a profit of $2.81 per share and revenue of $654 million in fiscal 2010.

In afternoon trading, Haemonetics shares gained $2.49, or 4.8 percent, to $53.99.

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