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Haemonetics Turns To Profit In Q1 - Quick Facts

Healthcare company Haemonetics Corp. (HAE) reported Tuesday a net income for the first quarter of $10.53 million or $0.21 per share, compared to a net loss of $8.48 million or $0.17 per share in the prior-year quarter. Excluding items, adjusted earnings were $0.46 per share, compared to last year's $0.81 per share.

Net revenue for the quarter decreased 18.0 percent to $195.58 million from last year's $238.45 million. Organic revenue was down 15.6 percent.

On average, analysts polled by Thomson Reuters expected the company to report earnings of $0.41 per share on revenue of $198.27 million for the quarter. Analysts' estimates typically exclude special items.

Looking ahead, the company said it did not issue fiscal 2021 guidance due to the continued uncertainty about the pace and timing of the COVID-19 pandemic and recovery. As a result, the Company intends to issue guidance later in its fiscal year.

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