Haemonetics

Investor Relations

Guidance

Haemonetics has provided the following for informational purposes only. Unless specifically noted as guidance, the numbers included are only possible scenarios for Haemonetics' 2009 fiscal year end results. The information is good as of October 27, 2008 unless the Company subsequently affirms guidance.

FY09 Income Statement Scenarios*

$s in millions FY08
Actual
FY09
Scenario
$2.38
FY09
Scenario
$2.44
FY09
Guidance

Sales $516 $578 $589 12-14%
Gross profit $258 $296 $300  
Operating expense $181 $204 $205  
Operating income $77 $92 $95 21-25%
Other income $7 $1 $1  
Pretax income $84 $93 $96  
Income tax rate 32.8% 33.5% 34.0%  
Net income $56 $62 $64  
Earnings per share $2.10 $2.38 $2.44 $2.38-$2.44




Shares outstanding (m) 27 26 26  




% Growth        
Sales 15% 12% 14%  
Gross profit 13% 15% 17%  
Operating income 10% 21% 25%  
Net income 7% 10% 13%  
Earnings per share 11% 13% 16%  




Profit Margins        
Gross profit 49.9% 51.2% 51.0% + ~120bps
Operating income 14.8% 16.0% 16.2% + ~120bps
Net income 10.9% 10.7% 10.8%  

*These income statement scenarios exclude restructuring costs associated with the Company's operations that totaled $6.3 million in fiscal 08 and are estimated at $5-7 million in fiscal 09.

 

FY09 Revenue Growth Scenarios

$s in millions FY08
Actual
FY09
Scenario
12%
FY09
Scenario
14%
FY09
Scenarios

Sales $516 $578 $589 12% to 14%




Donor Disposables        
Plasma $155 $187 $194 20% to 25%
Blood Bank $136 $142 $143 4-5%
Red Cell $46 $50 $51 ~10%
Patient Disposables        
Surgical/Diagnostics $73 $87 $88 ~18%
OrthoPAT $34 $37 $38 8% to 12%




Equipment $33 $32 $33 0% to -5%




Software & Services $39 $43 $43 ~10%

 

FY09 EPS Reconciliation Scenarios

$s in millions FY08
Actual
FY09
Scenario
$2.38
FY09
Scenario
$2.44
FY09
Scenarios

Earnings per share
(adjusted FY08)
$2.10 $2.38 $2.44 $2.38-$2.44




Business transformation
costs (restructuring)
($0.16) ($0.13) ($0.17)  




Earnings per share
(reported)
$1.94 $2.25 $2.27 $2.25-$2.27




Shares outstanding (M) 27 26 26  

Numbers may not add due to rounding

 

About Haemonetics' Guidance Policy:

Our business planning process is designed to maximize the long-term strength, growth and profitability of the Company, not to achieve an earnings target in any particular quarter. We believe that this longer-term focus is in the best interests of the Company and our stockholders. However, we do recognize that it may be helpful to provide investors with guidance as to what we think will be our future net sales and earnings. Accordingly, it is our objective to provide guidance as to our expected net sales and earnings on an annual basis. While we generally expect to provide updates to that guidance when we report our results each fiscal quarter, if appropriate, we assume no responsibility to update any of our forward-looking statements at such times or otherwise.

In all of our public statements when we make or update a forward-looking statement about our sales and/or earnings expectations, we accompany such statements directly, or by reference to our SEC filings, especially the 10K, with a list of factors that could cause our actual results to differ materially from those we expect. Such a list is included, among other places, in our earnings press release and in our periodic filings with the Securities and Exchange Commission (e.g., in our reports on Form 10-K and Form 10-Q).

Outside analysts, like all investors, have the right to make their own predictions as to what the Company’s financial results will be in a given fiscal year or quarter or even in future years. Outside analysts, however, have access to no more material information about the Company’s plans than any other public investor, and the Company does not endorse their predictions as to our future performance. Nor does the Company assume any responsibility to correct the predictions of outside analysts or others when they differ from the Company’s own internal expectations. However, the Company recognizes that actual results may differ from those that outside analysts or others have been predicting; in such a case, the market price of the Company’s securities could be affected. Investors who rely on the predictions of outside analysts or others when making investment decisions with respect to the Company’s securities do so at their own risk. The Company takes no responsibility for any losses suffered as a result of such changes in the prices of the Company’s securities.

 

 
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