Haemonetics Corp (HAE) 10-Q Quarterly Report Tue Feb 08 2022

DOCUMENT AND ENTITY INFORMATION - shares	9 Months Ended
DOCUMENT AND ENTITY INFORMATION - shares	Jan. 01, 2022	Feb. 04, 2022
Cover [Abstract]
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Jan. 01, 2022
Document Transition Report	false
Entity File Number	001-14041
Entity Registrant Name	HAEMONETICS CORP
Entity Central Index Key	0000313143
Current Fiscal Year End Date	--04-02
Document Fiscal Year Focus	2022
Document Fiscal Period Focus	Q3
Amendment Flag	false
Entity Incorporation, State or Country Code	MA
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
Title of 12(b) Security	Common stock, $.01 par value per share
Trading Symbol	HAE
Security Exchange Name	NYSE
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Large Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding		51,111,595

Please wait while we load the requested 10-Q report or click the link below:

https://last10k.com/sec-filings/report/313143/000031314322000008/hae-20220101.htm

View differences made from one quarter to another to evaluate Haemonetics Corp's financial trajectory

Compare SEC Filings Year-over-Year (YoY) and Quarter-over-Quarter (QoQ) — *Sample 10-K Year-over-Year (YoY) Comparison*

Compare this 10-Q Quarterly Report to its predecessor by reading our highlights to see what text and tables were ~~removed~~ , added and changed by Haemonetics Corp.

Continue

Assess how Haemonetics Corp's management team is paid from their Annual Proxy

Haemonetics Corp's Definitive Proxy Statement (Form DEF 14A) filed after their 2022 10-K Annual Report includes:

Voting Procedures
Board Members
Executive Team
Salaries, Bonuses, Perks
Peers / Competitors

Continue

Rating
Learn More

Filter by Sentiment:

All

Positive

Negative

Filter by Category:

All

Financial

M & A

Revenue

Other

Filter by Subcategory:

All

Expense

Income

Geography

Earnings

Product

Cash Flow

Other

Inside Haemonetics Corp's 10-Q Quarterly Report:

Financial - Expense Highlight
During the nine months ended January 1, 2022, costs driven by the amortization of the fair value inventory step-up related to Cardiva, asset impairments and gains on divestitures during the prior period also contributed to the decrease.

Financial - Income Highlight
Operating income decreased 11.8% and 44.5% during the three and nine months ended January 1, 2022, respectively, as compared with the same period of fiscal 2021, primarily due to increased spend related to the acquisition of Cardiva Medical, Inc. ("Cardiva"), including higher transaction and integration costs as well as increased intangible amortization expense, an increase in the fair value of contingent consideration and increased freight costs.
M & A - Other Highlight
The increase in cash used in investing activities was primarily the result of an increase in capital expenditures in the current year and lower proceeds received from various divestitures during fiscal 2021 as compared to fiscal 2022, partially offset by decreased acquisition spend.
Revenue - Geography Highlight
Whenever the U.S. Dollar strengthens relative to these foreign currencies, there is a positive effect on our results of operations.
Other - Other Highlight
Net cash used in investing activities increased by $55.5 million during the nine months ended January 1, 2022, as compared with the nine months ended December 26, 2020.
Other - Other
Net cash used in financing...Read more
M & A - Other
The increase during the nine...Read more
Financial - Expense
The effective tax rate for...Read more
Other - Other
The effective tax rates for...Read more
Financial - Expense
Increases in the price of...Read more
Financial - Earnings
The decrease in cash provided...Read more
M & A - Other
Forward-looking statements may be identified...Read more
Other - Other
As of January 1, 2022,...Read more
Revenue - Geography
The Yen, Euro, Yuan and...Read more
Revenue - Geography
Without the effects of foreign...Read more
Financial - Expense
Interest and Other Expense, Net...Read more
Revenue - Product
Hemostasis Management revenue increased 17.5%...Read more
Revenue - Geography
Without the effect of foreign...Read more
Revenue - Product
Hemostasis Management revenue increased 23.8%...Read more
Revenue - Geography
Without the effect of foreign...Read more
Revenue - Product
The total net proceeds from...Read more
Other - Other
Certain markets and industries, however,...Read more
Financial - Expense
Amortization of Intangible Assets We...Read more
Financial - Earnings
The effective tax rates were...Read more
Other - Other
We also had $24.7 million...Read more
Other - Other
There were no borrowings outstanding...Read more
Revenue - Product
Revenue increases in Hospital, primarily...Read more
M & A - Other
The increase during three and...Read more
Other - Other
We now expect to incur...Read more
Revenue - Geography
Without the effect of foreign...Read more
Revenue - Product
Hospital Hospital revenue increased 56.3%...Read more
Revenue - Geography
Without the effect of foreign...Read more
Financial - Cash Flow
For Swiss Francs, Canadian Dollars...Read more
Financial - Expense
Selling, General and Administrative Selling,...Read more
M & A - Other
The Company and its lenders...Read more
Other - Other
The effective interest rate on...Read more
Financial - Expense
The revised program is designed...Read more
Revenue - Product
Financial Summary 25 Net revenues...Read more
Revenue - Geography
Without the effect of foreign...Read more
Other - Other
Recent Developments Operational Excellence Program...Read more
Financial - Expense
28 Operating Expenses Research and...Read more
Financial - Earnings
Gross Profit Gross profit increased...Read more
Revenue - Geography
Without the effect of foreign...Read more
Revenue - Geography
Without the effect of foreign...Read more
Other - Other
The 2026 Notes have an...Read more
Financial - Income
For the three and nine...Read more
Financial - Income
For the three and nine...Read more
Other - Other
Investors should realize that if...Read more
Other - Other
We have provided this non-GAAP...Read more
Other - Other
"Hospital", which is comprised of...Read more
M & A - Other
The increase was primarily driven...Read more
Other - Other
We believe these sources are...Read more

Financial Statements, Disclosures and Schedules

Inside this 10-Q Quarterly Report

Material Contracts, Statements, Certifications & more

Haemonetics Corp provided additional information to their SEC Filing as exhibits

Exhibit 10.1: Material Contract

Exhibit 10.2: Material Contract

Exhibit 31.1: Rule 13A-14(A)/15D-14(A) Certification

Exhibit 31.2: Rule 13A-14(A)/15D-14(A) Certification

Exhibit 32.1: Section 1350 Certification

Exhibit 32.2: Section 1350 Certification

Ticker: HAE
CIK: 313143
Form Type: 10-Q Quarterly Report
Accession Number: 0000313143-22-000008
Submitted to the SEC: Tue Feb 08 2022 6:32:45 AM EST
Accepted by the SEC: Tue Feb 08 2022
Period: Saturday, January 1, 2022
Industry: Surgical And Medical Instruments And Apparatus