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Sep 26, 2020
Haemonetics Q2 2021 Earnings Report
Haemonetics' second quarter fiscal 2021 results were impacted by COVID-19, but customer end market demand remained strong and the company is poised for recovery.
Key Takeaways
Haemonetics reported a decrease in revenue for the second quarter of fiscal year 2021 due to the impact of COVID-19, but operating income increased due to gains on divestitures. The company is focused on completing its turnaround, delivering operational excellence, and advancing its innovation agenda.
Second quarter fiscal 2021 revenue was $209.5 million, down 17.1% compared with fiscal 2020.
Second quarter fiscal 2021 net income was $48.1 million, up $10.6 million, and earnings per diluted share was $0.94 as compared with fiscal 2020.
Cash on hand at September 26, 2020 was $279.2 million, an increase of $141.9 million since March 28, 2020.
The Company did not issue fiscal 2021 guidance due to the continued uncertainty about the pace and timing of the COVID-19 pandemic and recovery.
Revenue by Segment
Forward Guidance
The Company did not issue fiscal 2021 guidance due to the continued uncertainty about the pace and timing of the COVID-19 pandemic and recovery. The Company is currently assessing potential scenarios for the macroeconomic impact of COVID-19 and the related effect on healthcare beyond the current quarter, informed by milestones and market indicators.
Revenue & Expenses
Visualization of income flow from segment revenue to net income
Historical Earnings Impact
Analyze how earnings announcements historically affect stock price performance
Avg. Return Before/After Earnings
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