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UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 OR 15(d) of The Securities Exchange Act of 1934

Date of Report (Date of earliest event reported): February 6, 2025

HAEMONETICS CORPORATION
(Exact name of registrant as specified in its charter)
Massachusetts001-1404104-2882273
(State or other jurisdiction
of incorporation)
(Commission File Number)
(I.R.S. Employer
Identification No.)

125 Summer Street
Boston, MA 02110
(Address of principal executive offices) (Zip Code)
Registrant’s telephone number, including area code 781-848-7100
(Former name or former address, if changed since last report.)
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):
☐Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
☐Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
☐Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
☐Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
Securities registered pursuant to Section 12(b) of the Act:
Title of each classTrading Symbol(s)Name of each exchange on which registered
Common stock, $.01 par value per shareHAENew York Stock Exchange
Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).
Emerging Growth Company
 ☐
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐




Item 2.02 Results of Operations and Financial Condition. 
On February 6, 2025, Haemonetics Corporation issued a press release announcing financial results for the third quarter and nine months ended December 28, 2024. A copy of the press release is furnished with this report as Exhibit 99.1.
 
The foregoing information, including Exhibit 99.1 attached hereto, shall not be deemed “filed” for purposes of Section 18 of the Securities Exchange Act of 1934 (the “Exchange Act”) or otherwise subject to the liabilities of that section, nor shall it be deemed incorporated by reference in any filing under the Securities Act of 1933 or the Exchange Act, regardless of any general incorporation language in such filing.
Item 9.01 Financial Statements and Exhibits.
(d) Exhibits
Exhibit NumberDescription
Press Release of Haemonetics Corporation dated February 6, 2025 announcing financial results for the third quarter and nine months ended December 28, 2024.
104Cover Page Interactive Data File (embedded within the Inline XBRL document).




SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, as amended, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
HAEMONETICS CORPORATION
Date: February 6, 2025
By:/s/ Christopher A. Simon
Name:Christopher A. Simon
Title:President and Chief Executive Officer


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Exhibit 99.1
Investor ContactsMedia Contact
Olga Guyette, Vice President-Investor Relations & Treasury
Josh Gitelson, Sr. Director-Communications
(781) 356-9763(781) 356-9776
olga.guyette@haemonetics.com
josh.gitelson@haemonetics.com
David Trenk, Manager-Investor Relations
(203) 733-4987
david.trenk@haemonetics.com

Haemonetics Reports Third Quarter and Year-to-Date Fiscal 2025 Results; Updates Fiscal 2025 Guidance

Boston, MA, February 6, 2025 - Haemonetics Corporation (NYSE: HAE) reported financial results for its third quarter and year-to-date of fiscal 2025, which ended December 28, 2024:
    
3rd Quarter 2025
YTD 2025
nRevenue, increase
$349 million, 4%
$1,030 million, 7%
n
Organic1 revenue increase
—%2%
nEarnings per diluted share$0.74$2.14
nAdjusted earnings per diluted share$1.19$3.32
nCash flow from operating activities$44 million$65 million
nFree cash flow$30 million$50 million
1 Excludes the impact of currency fluctuation and the acquisitions of the Sensor Guided Technologies and Esophageal Protection product lines in December 2023 and April 2024, respectively.

Chris Simon, Haemonetics’ CEO, stated: "Our record third-quarter margins demonstrate our long-range plan is successfully driving profitable growth. We are gaining share, driving meaningful value through our differentiated technologies and strengthening our leadership as we navigate external market challenges, while accelerating portfolio evolution for further margin expansion. We are confident in the foundation we are building for sustained long-term growth across our business."

GAAP RESULTS

Third quarter fiscal 2025 revenue was $348.5 million, up 3.7% compared with the third quarter of fiscal 2024. Business unit revenue and growth rates compared with the prior year period were as follows:
($ millions)
3rd Quarter 2025 Reported
Plasma$134.2(9.1)%
Blood Center$70.3(2.8)%
Hospital$144.023.9%
    Total net revenue$348.53.7%

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Gross margin was 55.5% in the third quarter of fiscal 2025 compared with 52.9% in the third quarter of fiscal 2024. The primary drivers of the increase in the gross margin percentage were volume growth in Hospital on higher margin products as well as pricing benefits in all business units and decreased restructuring costs related to portfolio rationalization initiatives, partially offset by amortization of fair value inventory step-up. Operating expenses as a percentage of revenue were 38.6% in the third quarter of fiscal 2025 compared with 39.2% in the third quarter of fiscal 2024. The decrease in operating expenses as a percentage of revenue was primarily driven by operating leverage, decreased performance-based compensation and lower integration and transaction costs, partially offset by increased amortization of acquired intangible assets, write downs of certain assets and growth investments. The Company had operating income of $59.0 million and a 16.9% operating margin in the third quarter of fiscal 2025, compared with operating income of $46.0 million and a 13.7% operating margin in the third quarter of fiscal 2024. The income tax rates were 25% and 29% in the third quarters of fiscal 2025 and fiscal 2024, respectively. Third quarter fiscal 2025 net income and earnings per diluted share were $37.5 million and $0.74, respectively, compared with $31.2 million and $0.61, respectively, in the third quarter of fiscal 2024.


ADJUSTED RESULTS

Organic revenue for the third quarter of fiscal 2025 decreased 0.3% compared with the same period of fiscal 2024. Business unit organic revenue growth rates compared with the prior year period were as follows:
3rd Quarter 2025 Organic
Plasma(9.1)%
Blood Center(2.8)%
Hospital12.2%
    Total net revenue(0.3)%

Third quarter fiscal 2025 adjusted gross margin was 57.7%, up 240 basis points compared with the prior year period. The primary drivers of the increase in the adjusted gross margin percentage were volume growth in Hospital on higher margin products as well as pricing benefits in all business units.

Adjusted operating expenses as a percentage of revenue were 32.0% in the third quarter of fiscal 2025, compared with 33.5% in the third quarter of fiscal 2024. The decrease in adjusted operating expenses as a percentage of revenue was primarily driven by operating leverage and decreased performance-based compensation, partially offset with growth investments. Adjusted operating income for the third quarter of fiscal 2025 was $89.4 million, up $16.1 million, or 21.9%, compared with the third quarter of fiscal 2024. Adjusted operating margin was 25.7%, up 390 basis points when compared with the same period of fiscal 2024. The adjusted income tax rates were 25% in the third quarters of both fiscal 2025 and fiscal 2024.

Third quarter fiscal 2025 adjusted net income was $60.3 million, up $7.0 million, or 13.2%, and adjusted earnings per diluted share was $1.19, up 14.4%, each when compared with the same period of fiscal 2024.


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BALANCE SHEET AND CASH FLOW

Cash on hand at December 28, 2024 was $320.8 million, an increase of $142.0 million since the end of fiscal 2024, primarily driven by debt financing activities, partially offset by the Company’s acquisition of Advanced Cooling Therapy, Inc. (d/b/a Attune Medical) in early fiscal 2025 and share repurchases.

Cash flow from operating activities was $43.8 million and free cash flow was $29.6 million during the third quarter of fiscal 2025, compared with operating cash outflow of $0.5 million and free cash outflow of $22.5 million, respectively, in the same period of fiscal 2024. The primary drivers of increased operating cash flow were higher collections of accounts receivable, timing of accounts payable and increased net income, partially offset by decreased performance-based compensation accruals. Free cash flow was also impacted by lower capital expenditures and additions to Haemonetics equipment.

FISCAL 2025 GUIDANCE

The Company updated its fiscal 2025 GAAP total revenue and organic revenue growth guidance as follows:

Current Guidance
PlasmaBlood CenterHospitalTotal Company
Reported(5 - 7)%(7 - 9)%24% - 26%3 - 5%
Currency impact0%0%1 - (1)%(0 - 2)%
Acquisitions & Divestitures1
0%(5)%11 - 13%3 - 4%
Organic(5 - 7)%(2 - 4)%12 - 14%0 - 3%
Previous Guidance
PlasmaBlood CenterHospitalTotal Company
Reported(3 - 6)%(4 - 7)%26% - 31%5 - 8%
Currency impact0%(0 - 1)%0%(0 - 1)%
Acquisitions1
0%0%12 - 14%4 - 5%
Organic(3 - 6)%(4 - 6)%14 - 17%1 - 4%
1 Reflects adjustment to exclude fiscal 2025 revenue related to the acquisition of Attune Medical on April 1, 2024 and 37 weeks of OpSens Inc. revenue (i.e., through the first anniversary of its acquisition) as well as the divestiture of the Whole Blood business, completed on January 13, 2025


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Additionally, the Company updated its adjusted operating margin guidance, adjusted earnings per diluted share guidance and free cash flow guidance as follows:

Previous GuidanceCurrent Guidance
Adjusted operating margin
23% - 24%~24%
Adjusted earnings per diluted share
$4.45 - $4.75$4.50 - $4.70
Free cash flow
$130M - $180M$120M - $140M

WEBCAST CONFERENCE CALL AND RESULTS ANALYSIS

The Company will host a conference call with investors and analysts to discuss third quarter fiscal 2025 results on Thursday, February 6, 2025 at 8:00 a.m. ET. The call can be accessed via teleconference at https://register.vevent.com/register/BIda08929a4d56464eb33eccb945ef985e. Once registration is completed, participants will receive a dial-in number along with a personalized PIN to access the call. While not required, it is recommended that participants join 10 minutes prior to the event start.

Alternatively, a live webcast of the call can be accessed on Haemonetics’ investor relations website at the following direct link: https://edge.media-server.com/mmc/p/63jte4ra

ABOUT HAEMONETICS

Haemonetics (NYSE: HAE) is a global healthcare company dedicated to providing a suite of innovative medical products and solutions for customers, to help them improve patient care and reduce the cost of healthcare. Our technology addresses important medical markets: blood and plasma component collection, the surgical suite and hospital transfusion services. To learn more about Haemonetics, visit www.haemonetics.com.

FORWARD-LOOKING STATEMENTS

Any statements contained in this press release that do not describe historical facts may constitute forward-looking statements. Forward-looking statements in this press release may include, without limitation, statements regarding (i) plans and objectives of management for operations of the Company, including plans or objectives related to the Company’s strategy for growth; product development, commercialization and anticipated benefits; regulatory approvals; the impact of acquisitions and divestitures; market position and expenditures; and the Company’s Operational Excellence Program and portfolio rationalization initiatives; (ii) estimates or projections of future financial results, financial condition, capital expenditures, capital structure or other financial items, including with respect to the share repurchase program; and (iii) the assumptions underlying or relating to any statement described in points (i) and (ii) above.

Such forward-looking statements are not meant to predict or guarantee actual results, performance, events or circumstances and may not be realized because they are based upon the Company’s current projections, plans, objectives, beliefs, expectations, estimates and assumptions and are subject to a number of risks and uncertainties and other influences.
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Actual results and the timing of certain events and circumstances may differ materially from those described by the forward-looking statements as a result of these risks and uncertainties. Factors that may influence or contribute to the inaccuracy of the forward-looking statements or cause actual results to differ materially from expected or desired results may include, without limitation, availability and demand for the Company’s products; the Company’s ability to successfully develop and market new products and technologies; the impact of competitive products and pricing; product quality; disruptions caused by cybersecurity events; any failure to realize the anticipated strategic benefits and opportunities from acquisitions and divestitures; pricing pressures resulting from trends toward healthcare cost containment and the effect of industry consolidation; manufacturing, distribution and supply chain disruptions and cost increases; the Company’s ability to implement as planned and realize estimated cost savings from the Operational Excellence Program and portfolio rationalization initiatives; the effects of global economic and political conditions, including inflationary pressures; regulatory uncertainties, including in the receipt or timing of regulatory approvals, and the impact of changes in global regulatory conditions; indebtedness incurred by the Company, including the conditional conversion feature of its convertible notes; intellectual property; litigation; and the impact of share repurchases on the Company’s stock price and volatility as well as the effect of short-term price fluctuations on the share repurchase program’s effectiveness. These and other factors are identified and described in more detail in the Company’s periodic reports and other filings with the U.S. Securities and Exchange Commission (the “SEC”). The Company does not undertake to update these forward-looking statements.

MANAGEMENT’S USE OF NON-GAAP MEASURES

This press release contains financial measures that are considered “non-GAAP” financial measures under applicable SEC rules and regulations. Management uses non-GAAP measures to monitor the financial performance of the business, make informed business decisions, establish budgets and forecast future results. Performance targets for management are also based on certain non-GAAP financial measures. These non-GAAP financial measures should be considered supplemental to, and not a substitute for, the Company’s reported financial results prepared in accordance with U.S. GAAP. In this release, supplemental non-GAAP measures have been provided to assist investors in evaluating the performance of the Company’s core operations and provide a baseline for analyzing trends in the Company’s underlying businesses. We strongly encourage investors to review the Company’s financial statements and publicly-filed reports in their entirety and not rely on any single financial measure.

When used in this release, organic revenue growth excludes the impact of currency fluctuation, acquisitions and divestitures. Adjusted gross profit, adjusted operating expenses, adjusted operating income, adjusted interest and other income/expense, adjusted provision for income taxes, adjusted net income and adjusted earnings per diluted share exclude restructuring costs, restructuring related costs, digital transformation costs, amortization of acquired intangible assets, asset impairments and write downs, amortization of fair value inventory step-up, accelerated device depreciation and related costs, costs related to compliance with the European Union Medical Device Regulation ("MDR") and In Vitro Diagnostic Regulation ("IVDR"), integration and transaction costs, net gains on the repurchase of convertible notes, gains on sales of property, plant and equipment, certain tax settlements and unusual or
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infrequent and material litigation-related charges. Adjusted net income and adjusted earnings per diluted share also exclude the tax impact of these items. The adjustments to provision for income taxes are calculated based on the jurisdictions in which pre-tax adjustments occurred. Free cash flow is defined as cash provided by operating activities less capital expenditures and additions to Haemonetics equipment, net of the proceeds from the sale of property, plant and equipment. Because non-GAAP financial measures are not standardized, it may not be possible to compare these financial measures to similarly titled measures used by other companies.

A reconciliation of non-GAAP historical financial measures to their most comparable GAAP measure are included at the end of the financial sections of this press release as well as on the Company’s website at www.haemonetics.com. The Company does not attempt to provide reconciliations of forward-looking adjusted operating margin guidance, adjusted earnings per diluted share guidance or free cash flow guidance to the comparable GAAP measures because the combined impact and timing of recognition of certain potential charges or gains, such as restructuring costs, impairment charges and capital expenditures, is inherently uncertain and difficult to predict and is unavailable without unreasonable efforts. In addition, the Company believes such reconciliations would imply a degree of precision and certainty that could be confusing to investors. Such items could have a substantial impact on GAAP measures of the Company’s financial performance.
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Haemonetics Corporation Financial Summary
Condensed Consolidated Statements of Income
(Data in thousands, except per share data)
Three Months EndedNine Months Ended
  12/28/202412/30/2023Inc/(Dec) %12/28/202412/30/2023Inc/(Dec) %
(unaudited)(unaudited)
Net revenues$348,542$336,2503.7%$1,030,225$965,7656.7%
Cost of goods sold154,995158,383(2.1)%474,317450,1235.4%
Gross profit193,547177,8678.8%555,908515,6427.8%
  
 Research and development15,82913,26519.3%46,80838,57821.3%
 Selling, general and administrative106,459111,713(4.7)%321,653320,5180.4%
Amortization of acquired intangible assets12,2306,91177.0%36,96521,60671.1%
Operating expenses134,518131,8892.0%405,426380,7026.5%
Operating income59,02945,97828.4%150,482134,94011.5%
  
Interest and other expense, net(9,112)(1,949)367.5%(9,148)(6,489)41.0%
Income before provision for income taxes49,91744,02913.4%141,334128,45110.0%
  
Provision for income taxes12,42312,788(2.9)%31,63631,2601.2%
  
Net income$37,494$31,24120.0%$109,698$97,19112.9%
  
 
Net income per common share assuming dilution$0.74$0.6121.3%$2.14$1.8913.2%
   
Weighted average shares outstanding 
 Basic50,28650,768 50,70950,679
 Diluted50,63951,445 51,14851,394
    
Profit Margins: Inc/(Dec) %Inc/(Dec) %
Gross profit55.5 %52.9 %2.6%54.0 %53.4 %0.6%
Research and development4.5 %3.9 %0.6%4.5 %4.0 %0.5%
Selling, general and administrative30.5 %33.2 %(2.7)%31.2 %33.2 %(2.0)%
Operating income16.9 %13.7 %3.2%14.6 %14.0 %0.6%
Income before provision for income taxes14.3 %13.1 %1.2%13.7 %13.3 %0.4%
Net income10.8 %9.3 %1.5%10.6 %10.1 %0.5%
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Revenue Analysis by Business Unit
(Data in thousands)
  Three Months Ended
  12/28/202412/30/2023Reported growthCurrency impact
Acquisitions(1)
Organic growth
Revenues by business unit(2)
(unaudited)
 Plasma$134,224 $147,641 (9.1)%— %— %(9.1)%
Apheresis55,388 52,565 5.4 %— %— %5.4 %
Whole Blood14,957 19,814 (24.5)%— %— %(24.5)%
 Blood Center70,345 72,379 (2.8)%— %— %(2.8)%
Interventional Technologies(3)
63,253 43,007 47.1 %(0.4)%31.2 %16.3 %
Blood Management Technologies(4)
80,720 73,223 10.2 %0.3 %— %9.9 %
 Hospital143,973 116,230 23.9 %0.1 %11.6 %12.2 %
Total net revenues$348,542 $336,250 3.7 %0.1 %3.9 %(0.3)%
Nine Months Ended
12/28/202412/30/2023Reported growthCurrency impact
Acquisitions(1)
Organic growth
Revenues by business unit(2)
(unaudited)
Plasma$408,695 $430,056 (5.0)%— %— %(5.0)%
Apheresis158,814 156,704 1.3 %(1.4)%— %2.7 %
Whole Blood46,304 54,537 (15.1)%(0.1)%— %(15.0)%
Blood Center205,118 211,241 (2.9)%(1.0)%— %(1.9)%
Interventional Technologies(3)
188,220 119,168 57.9 %(0.4)%39.9 %18.4 %
Blood Management Technologies(4)
228,192 205,300 11.2 %— %— %11.2 %
Hospital416,412 324,468 28.3 %(0.2)%14.7 %13.8 %
Total net revenues$1,030,225 $965,765 6.7 %(0.2)%4.9 %2.0 %
(1) Reflects the impact in Hospital of the Sensor Guided Technologies product line acquired as part of the OpSens Inc. transaction in December 2023 and the Esophageal Protection product line acquired as part of the Attune Medical transaction in April 2024.
(2) Beginning in fiscal 2025, the Company integrated service revenue within its three business units. Prior periods were conformed to current presentation.
(3) Interventional Technologies includes Vascular Closure, Sensor Guided Technologies and Esophageal Protection product lines of the Hospital business unit.
(4) Blood Management Technologies includes Hemostasis Management, Cell Salvage and Transfusion Management product lines of the Hospital business unit.

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Condensed Consolidated Balance Sheets
(Data in thousands)
   
   As of
   12/28/2024 3/30/2024
   (unaudited) 
Assets   
Cash and cash equivalents$320,846 $178,800 
Accounts receivable, net211,949 206,562 
Inventories, net359,614 317,202 
Other current assets113,459 66,339 
  Total current assets1,005,868 768,903 
Property, plant & equipment, net286,107 311,362 
Intangible assets, net465,615 406,117 
Goodwill605,266 565,082 
Other assets168,414 144,127 
 Total assets$2,531,270 $2,195,591 
 
Liabilities & Stockholders' Equity 
Short-term debt & current maturities$5,075 $10,229 
Other current liabilities248,158 290,154 
  Total current liabilities253,233 300,383 
Long-term debt1,219,762 797,564 
Other long-term liabilities151,415 137,685 
Stockholders' equity906,860 959,959 
 Total liabilities & stockholders' equity$2,531,270 $2,195,591 























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Condensed Consolidated Statements of Cash Flows
(Data in thousands)
 Nine Months Ended
 12/28/202412/30/2023
 (unaudited)
Cash Flows from Operating Activities:
Net income$109,698 $97,191 
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization87,378 69,576 
Amortization of fair value inventory step-up12,319 — 
Share-based compensation expense22,699 20,912 
Impairment of intangible assets2,391 10,419 
Gain on repurchase of convertible senior notes, net(12,600)— 
Inventory reserve adjustment1,289 6,904 
Gains on sales of property, plant and equipment(14,572)(647)
Deferred tax benefit(8,593)(5,138)
Change in other non-cash operating activities8,114 5,748 
Change in accounts receivable, net (3,379)(27,743)
Change in inventories, net(65,629)(40,721)
Change in other working capital(73,947)(18,831)
Net cash provided by operating activities65,168 117,670 
Cash Flows from Investing Activities:
Capital expenditures(23,635)(31,440)
Non-cash transfers from inventory to property, plant and equipment for Haemonetics equipment(12,649)(25,171)
Acquisition, net of cash acquired(150,906)(243,852)
Proceeds from sale of property, plant and equipment20,802 1,259 
Other investing activities(13,547)(10,129)
Net cash used in investing activities(179,935)(309,333)
Cash Flows from Financing Activities:
Repayments, net of borrowings448,875 101,250 
Purchase of capped call related to convertible notes(88,200)— 
Debt issuance costs(23,135)— 
Share repurchases(75,000)— 
Proceeds from employee stock programs8,193 7,108 
Cash used to net share settle employee equity awards(10,243)(5,885)
Other financing activities(222)(814)
Net cash provided by financing activities260,268 101,659 
Effect of exchange rates on cash and cash equivalents(3,455)(484)
Net Change in Cash and Cash Equivalents142,046 (90,488)
Cash and Cash Equivalents at Beginning of the Period178,800 284,466 
Cash and Cash Equivalents at End of Period$320,846 $193,978 
Free Cash Flow Reconciliation:
Cash provided by operating activities$65,168 $117,670 
Capital expenditures(23,635)(31,440)
Additions to Haemonetics equipment(12,649)(25,171)
Proceeds from sale of property, plant and equipment20,802 1,259 
Free cash flow$49,686 $62,318 
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Reconciliation of Adjusted Measures for Third Quarter of FY25 and FY24
(Data in thousands, except per share data)
Three Months Ended December 28, 2024:
Gross profitOperating expensesOperating incomeInterest and other income (expense)Provision for income taxesNet incomeEarnings per diluted share
Reported$193,547$134,518$59,029$(9,112)$12,423$37,494$0.74 
Amortization of acquired intangible assets—(12,230)12,230—3,0359,1950.18 
Amortization of fair value inventory step-up3,341—3,341—8112,5300.05 
Integration and transaction costs41016624475194125— 
Restructuring costs3,027(488)3,515—9752,5400.05 
Restructuring related costs634(834)1,468—3341,1340.02 
Digital transformation costs—(4,620)4,620—1,1033,5170.07 
Write downs of certain assets—(4,000)4,000—9713,0290.06 
MDR and IVDR costs—(1,008)1,008—2397690.02 
Litigation-related charges—18(18)—(4)(14)— 
Discrete tax items————28(28)— 
Adjusted$200,959$111,522$89,437$(9,037)$20,109$60,291$1.19 
Adjusted, as a percentage of net revenues57.7 %32.0 %25.7 %17.3 %
Three Months Ended December 30, 2023:
Gross profitOperating expensesOperating incomeInterest and other income (expense)Provision for income taxesNet incomeEarnings per diluted share
Reported$177,867$131,889$45,978$(1,949)$12,788$31,241$0.61 
Amortization of acquired intangible assets—(6,911)6,911—1,9124,9990.10 
Integration and transaction costs—(4,869)4,869—(410)5,2790.10 
Restructuring costs7,065(903)7,968—1,7756,1930.12 
Restructuring related costs1,125(1,278)2,403—6181,7850.04 
Digital transformation costs—(3,415)3,415—9102,5050.05 
PCS2 related charges49(161)210—58152— 
MDR and IVDR costs—(1,433)1,433—3651,0680.02 
Litigation-related charges—(177)177—12255— 
Adjusted$186,106$112,742$73,364$(1,949)$18,138$53,277$1.04 
Adjusted, as a percentage of net revenues55.3 %33.5 %21.8 %15.8 %

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Reconciliation of Adjusted Measures for Year-to-Date FY25 and FY24
(Data in thousands, except per share data)
Nine Months Ended December 28, 2024:
Gross profitOperating expensesOperating incomeInterest and other income (expense)Provision for income taxesNet incomeEarnings per diluted share
Reported$555,908$405,426$150,482$(9,148)$31,636$109,698$2.14 
Amortization of acquired intangible assets—(36,965)36,965—9,18127,7840.54 
Amortization of fair value inventory step-up12,319—12,319—3,0059,3140.18 
Integration and transaction costs797(12,652)13,449751,13712,3870.24 
Restructuring costs11,158(1,771)12,929—3,1569,7730.19 
Restructuring related costs2,514(3,043)5,557—1,3044,2530.08 
Digital transformation costs—(15,823)15,823—3,77312,0500.24 
Write downs of certain assets—(4,000)4,000—9713,0290.06 
MDR and IVDR costs—(3,125)3,125—7402,3850.05 
Litigation-related charges—(1,057)1,057—2578000.02 
Gain on repurchase of convertible notes, net———(12,600)(3,059)(9,541)(0.19)
Gains on sales of property, plant and equipment14,134(14,134)—(3,432)(10,702)(0.21)
Impairment of intangible assets—(2,391)2,391—5811,8100.04 
Discrete tax items————3,103(3,103)(0.06)
Adjusted$582,696$338,733$243,963$(21,673)$52,353$169,937$3.32 
Adjusted, as a percentage of net revenues56.6 %32.9 %23.7 %16.5 %
Nine Months Ended December 30, 2023:
Gross profitOperating expensesOperating incomeInterest and other income (expense)Provision for income taxesNet incomeEarnings per diluted share
Reported$515,642$380,702$134,940$(6,489)$31,260$97,191$1.89 
Amortization of acquired intangible assets—(21,606)21,606—5,48216,1240.31 
Integration and transaction costs—(7,768)7,768—2847,4840.15 
Restructuring costs7,329(714)8,043—1,7616,2820.12 
Restructuring related costs3,604(2,950)6,554—1,6044,9500.09 
Digital transformation costs—(10,712)10,712—2,6098,1030.16 
PCS2 related charges219(402)621—1574640.01 
MDR and IVDR costs—(4,587)4,587—1,0773,5100.07 
Litigation-related charges—(6,684)6,684—1,6845,0000.10 
Impairment of intangible assets—(10,419)10,419—3,3767,0430.14 
Discrete tax items————(1,466)1,4660.03 
Adjusted$526,794$314,860$211,934$(6,489)$47,828$157,617$3.07 
Adjusted, as a percentage of net revenues54.5 %32.6 %21.9 %16.3 %


12
v3.25.0.1
Document and Entity Information
Feb. 06, 2025
Cover [Abstract]  
Document Type 8-K
Document Period End Date Feb. 06, 2025
Entity Registrant Name HAEMONETICS CORPORATION
Entity Central Index Key 0000313143
Amendment Flag false
Entity File Number 001-14041
Entity Tax Identification Number 04-2882273
Entity Address, Address Line One 125 Summer Street
Entity Address, City or Town Boston
Entity Address, State or Province MA
Entity Address, Postal Zip Code 02110
City Area Code 781
Local Phone Number 848-7100
Written Communications false
Soliciting Material false
Pre-commencement Tender Offer false
Pre-commencement Issuer Tender Offer false
Title of 12(b) Security Common stock, $.01 par value per share
Trading Symbol HAE
Security Exchange Name NYSE
Entity Emerging Growth Company false
Entity Incorporation, State or Country Code MA
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