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Haemonetics Corporation and Subsidiaries
Five-Year GAAP Review
(in thousands, except share and employee data)
| Summary of Operations | 2009 | 2008 | 2007 | 2006 (a) | 2005 (a) |
|---|---|---|---|---|---|
| Net revenues | $597,879 | $516,440 | $449,607 | $419,733 | $383,598 |
| Cost of goods sold | $289,709 | $258,715 | $222,307 | $199,198 | $185,722 |
| Gross profit | $308,170 | $257,725 | $227,300 | $220,535 | $197,876 |
| Operating expenses: | |||||
| R&D | $ 23,859 | $ 24,332 | $ 23,884 | $ 26,516 | $ 19,994 |
| S, G & A | $198,744 | $163,116 | $137,073 | $121,351 | $118,039 |
| Cost to equity | - | $225 | $680 | $406 | - |
| In process R&D | - | $9,073 | - | - | - |
| Arbitration and settlement income | - | $(5,700) | $(26,350) | - | - |
| Total operating expenses | $222,603 | $187,438 | $164,555 | $122,197 | $138,439 |
| Operating income | $85,567 | $70,287 | $62,745 | $98,338 | $59,437 |
| Other income (expense), net | $(565) | $7,015 | $9,591 | $7,864 | $(2) |
| Income before provision for income taxes | $85,002 | $77,302 | $72,336 | $106,202 | $59,435 |
| Provision for income taxes | $25,698 | $25,322 | $23,227 | $37,806 | $20,202 |
| Net income | $59,304 | $51,980 | $49,109 | $68,396 | $39,233 |
| Income per share: | |||||
| Basic | $2.34 | $2.01 | $1.84 | $2.58 | $1.54 |
| Diluted | $2.27 | $1.94 | $1.78 | $2.49 | $1.50 |
| Weighted average number of shares | 25,389 | 25,824 | 26,746 | 26,478 | 25,523 |
| Common stock equivalents | 784 | 922 | 903 | 996 | 622 |
| Weighted average number of common and common equivalent shares | 26,173 | 26,746 | 27,649 | 27,474 | 26,145 |
| Financial and Statistical Data: | |||||
| Working capital | $289,530 | $261,757 | $321,654 | $330,288 | $255,689 |
| Current ratio | 4.1 | 3.7 | 4.9 | 4.7 | 3.9 |
| Property, plant and equipment, net | $137,807 | $116,484 | $90,775 | $75,266 | $69,337 |
| Capital expenditures | $56,379 | $57,790 | $40,438 | $33,774 | $17,530 |
| Depreciation and amortization | $36,462 | $31,197 | $27,504 | $25,150 | $27,756 |
| Total assets | $649,693 | $608,950 | $572,735 | $546,543 | $467,757 |
| Total debt | $6,038 | $12,363 | $28,876 | $39,153 | $45,843 |
| Stockholders' equity | $539,884 | $494,188 | $479,648 | $441,650 | $355,135 |
| Return on average equity | 11.47% | 10.67% | 10.67% | 17.34% | 12.50% |
| Debt as a % of stockholders' equity | 1.12% | 2.50% | 6.02% | 8.87% | 12.90% |
| Employees | 2,016 | 1,875 | 1,826 | 1,661 | 1,546 |
| Net revenues per employee | $297 | $276 | $246 | $254 | $248 |
(a) Reflects the adjustment to convert our investment in Arryx, Inc. to the equity method for periods prior to the acquisition.
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