Haemonetics (NYSE:HAE) posted third-quarter results today that beat the consensus forecast on Wall Street, sending its shares up.
The Boston-based company reported profits of $31.9 million, or 62¢ per share, on sales of $240.4 million for the three months ended Dec. 26, 2020, for a bottom-line gain of 6.6% sales loss of -7.2% compared with Q3 2020.
Adjusted to exclude one-time items, earnings per share were 81¢, 16¢ ahead of The Street, where analysts were looking for sales of $224.3 million.
“In the third quarter, revenue improved sequentially and productivity from our Operational Excellence Program and cost management helped improve profitability,” CEO Chris Simon said in a news release. “We are progressing with NexSys and TEG adoption and we are investing in our innovation agenda for future growth. The Cardiva Medical acquisition supports our strategy, diversifies our portfolio and is expected to create significant shareholder value.”
Haemonetics said the decline in revenue for Q3 was driven by the continued negative impact of COVID-19. It did not provide financial guidance for the rest of the year.
Shares in HAE were up 18.17% to $135.90 apiece in mid-morning trading.