Haemonetics Corp. (HAE) Misses Q4 EPS by 12c; Guides Below the Street

Haemonetics Corp. (NYSE: HAE) reported Q4 EPS of $0.46, $0.12 worse than the analyst estimate of $0.58. Revenue for the quarter came in at $241 million versus the consensus estimate of $244.87 million.

Haemonetics Corp. sees FY2014 EPS of $1.85-$1.95, versus the consensus of $2.25.

Brian Concannon, Haemonetics' President and CEO, stated: "An environment characterized by mounting pressure emerged in the U.S. hospital and blood center markets in fiscal 2014. The resulting rapid rate of change was not reflected in our planned targets for the year. In recognition of this, we felt it was appropriate to partially fund our variable compensation program."

"It has been our long held view that our shareholders should be paid first and this is a practice we have honored in the past and will continue to honor in the future. However, under the circumstances, we concluded it was necessary to consider external elements which were beyond the control of our employees and which influenced fiscal 2014 results."

For earnings history and earnings-related data on Haemonetics Corp. (HAE) click here.

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