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10 Stocks With Explosive Earnings Growth: No. 5 Haemonetics (HAE)

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July 7, 2009 5:56 PM EDT

In the current difficult macroeconomic environment it is hard to find companies that are earning a meaningful profit, let alone growing earnings. But these 10 stocks have been rewarding investors with explosive earnings growth and stock performance to boot. You can track the entire series here.

Number 5: Haemonetics (NYSE: HAE)

Haemonetics is a global healthcare company dedicated to providing innovative blood management solutions for customers, including blood banks, plasma collectors and hospitals.

Haemonetics' product portfolio helps hospitals determine blood demand and individual patient treatments, and then implement best practices for blood usage and cost efficiency. For blood and plasma collectors, Haemonetics' product portfolio supports increasing blood supplies, automating manual business processes, and improving efficiencies.

Over the next several years, Haemonetics' will continue to add to its value proposition in blood management to ultimately link the blood supply chain from the point of blood and plasma donation through to the patient point of care.

47% of Haemonetics' 2009 net revenues were generated in the U.S., while 53% were generated through sales to non-U.S. customers.

In 2009, Haemonetics reported record revenues and earnings and its eighth consecutive quarter of double digit revenue growth

Earnings Growth:
From the fiscal year ended March 31, 2005 to the fiscal year ended March 31, 2009, Haemonetics' net income has grown from $39.2 million to $59.3 million. In that time, diluted EPS has grown from $1.50 to $2.27.

In fiscal 2009, Haemonetics grew net income 14% year-over-year to $59 million and adjusted earnings per share were $2.45, up 17% year-over-year.

Earnings Prospects:
Haemonetics sees fiscal 2010 operating income growth of 12-15%, and earnings per share in a range of $2.75 to $2.85. This would represent growth of 12%-16%.

For fiscal 2011, analysts on average see Haemonetics earnings $3.10. This would represent growth of 9-13% from the company's 2010 view.

Stock Performance:
Haemonetics is down 2.7% YTD, versus a 2.5% slide in the S&P 500. Over the last year, HAE is up 6.6% versus the 29.6% slide in the S&P 500. Over the last 5 years, HAE is up 87% versus the 22% slide in the S&P 500.