Haemonetics Corporation reported a net revenue of $1.36 billion for the fiscal year ending March 29, 2025, marking a 4% increase from $1.31 billion in the previous fiscal year. The company's gross profit rose by 8.3% to $749 million, representing 55% of net revenues, compared to 52.8% in fiscal 2024. Operating income saw a significant increase of 34.5%, reaching $222 million, driven by operational leverage and a favorable remeasurement of contingent consideration. Net income also rose by 42.6% to $168 million, with diluted earnings per share increasing to $3.31 from $2.29 in the prior year.
The company experienced notable changes across its business segments. The Plasma segment, which accounted for 39.3% of total revenue, saw a decline of 6% due to reduced sales volumes in North America, particularly related to a transition with a major customer, CSL Plasma. Conversely, the Hospital segment, which represented 41.5% of total revenue, experienced a 23.7% increase, bolstered by recent acquisitions and growth in its Interventional Technologies and Blood Management Technologies product lines. The Blood Center segment's revenue decreased by 7.8%, primarily due to the divestiture of its Whole Blood product line.
Strategically, Haemonetics completed the acquisition of Attune Medical for $187.7 million in April 2024, enhancing its Hospital business with esophageal protection technology. Additionally, the company acquired OpSens Inc. for approximately $254.5 million in December 2023, further expanding its portfolio in interventional cardiology. The divestiture of the Whole Blood product line, completed in January 2025, allowed the company to focus on higher-margin opportunities. The company also initiated a market and regional alignment initiative aimed at improving operational performance and reducing costs, with expected annual savings of approximately $30 million.
Operationally, Haemonetics employed 3,023 individuals as of March 29, 2025, with a significant portion of its workforce based in North America. The company reported a current ratio of 1.6 and a net debt position of $918 million, indicating a strong liquidity position. The company’s cash and cash equivalents increased to $307 million, up from $179 million in the previous year. Looking ahead, Haemonetics anticipates continued growth in its Hospital and Plasma segments, driven by ongoing investments in product innovation and strategic acquisitions, while navigating challenges in the Blood Center market.
About HAEMONETICS CORP
Haemonetics is a global medical technology company providing blood and plasma collection, processing, and management solutions. Its core segments include Plasma, Blood Center, and Hospital, offering devices, software, and services to enhance blood and plasma collection, transfusion safety, and patient care. The company serves blood centers, plasma manufacturers, hospitals, and healthcare providers worldwide, focusing on innovation, quality, and regulatory compliance to improve healthcare outcomes.
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