Haemonetics (HAE) FY2020 results: revenue $988 million, up 2.2% on the year
Haemonetics Corp. (HAE) reported revenue of $988 million for fiscal 2020, the year ended 28 March 2020, up 2.2% on the year before. Net income was $77 million, up 39.1%, and diluted earnings per share $1.48. The figures are the company's own, from the 10-K it filed with the SEC on 20 May 2020.
Revenue
$988 million
+2.2% on the year
FY2013FY2020
Operating margin
10.5%
8.6% a year earlier
FY2013FY2020
Net income
$77 million
+39.1% on the year
FY2013FY2020
Diluted EPS
$1.48
+42.3% on the year
FY2013FY2020
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2020
FY2019
FY2018
On the year
Last 8 years
Revenue
988
968
904
+2.2%
Cost of revenue
504
550
492
-8.4%
Gross profit
485
418
412
+16.0%
Gross margin
49.0%
43.2%
45.6%
Research and development
30.9
35.7
39.2
-13.5%
Selling, general and administrative
282
273
317
+3.1%
Operating income
103
83.5
56.2
+23.7%
Operating margin
10.5%
8.6%
6.2%
Interest expense
13.5
12.6
7.7
+7.1%
Pre-tax income
87.2
73.6
59.6
+18.4%
Income tax
10.6
18.6
14.1
-42.9%
Effective tax rate
12.2%
25.3%
23.6%
Net income
76.5
55.0
45.6
+39.1%
Net margin
7.7%
5.7%
5.0%
Diluted EPS
$1.48
$1.04
$0.85
+42.3%
$ million except per share. Read moreFree cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Those four are arithmetic on the filed numbers; everything else is as filed. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and share counts are as they are.
Cash flow
$ million
FY2020
FY2019
FY2018
On the year
Last 8 years
Operating cash flow
158
159
220
-0.7%
Capital expenditure
48.8
119
74.8
-59.0%
Free cash flow
109
40.3
146
+171.5%
Free cash flow margin
11.1%
4.2%
16.1%
Cash from investing
-57.2
-116
-63.0
Cash from financing
-131
-50.6
-121
Depreciation and amortisation
110
109
89.2
+0.8%
Share-based compensation
20.5
17.2
13.0
+19.0%
Buybacks
175
160
100
+9.4%
Diluted shares, weighted
52m
53m
54m
-2.1%
Shares outstanding at period end
50m
51m
52m
-1.4%
Balance sheet
$ million
FY2020
FY2019
FY2018
On the year
Last 8 years
Shareholders' equity
587
668
752
-12.1%
Debt
382
350
254
+9.2%
Operating lease liabilities
52.0
n/a
n/a
Other liabilities
245
257
231
-4.4%
Total liabilities and equity
1,267
1,275
1,237
-0.6%
Fixed assets
253
344
332
-26.3%
Goodwill
211
211
211
-0.1%
Intangible assets
133
128
157
+4.2%
Cash and equivalents
137
169
180
-18.9%
Receivables
165
185
151
-10.7%
Inventory
270
194
161
+39.1%
Other assets
97.2
43.6
45.0
+123.0%
Total assets
1,267
1,275
1,237
-0.6%
10-K for the year ended 28 March 2020, filed 20 May 2020: the filing.