Haemonetics (HAE) FY2021 results: revenue $870 million, down 11.9% on the year
Haemonetics Corp. (HAE) reported revenue of $870 million for fiscal 2021, the year ended 3 April 2021, down 11.9% on the year before. Net income was $79 million, up 3.8%, and diluted earnings per share $1.55. The figures are the company's own, from the 10-K it filed with the SEC on 26 May 2021.
Revenue
$870 million
-11.9% on the year
FY2014FY2021
Operating margin
10.3%
10.5% a year earlier
FY2014FY2021
Net income
$79 million
+3.8% on the year
FY2014FY2021
Diluted EPS
$1.55
+4.7% on the year
FY2014FY2021
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2021
FY2020
FY2019
On the year
Last 8 years
Revenue
870
988
968
-11.9%
Cost of revenue
473
504
550
-6.2%
Gross profit
398
485
418
-17.9%
Gross margin
45.7%
49.0%
43.2%
Research and development
32.9
30.9
35.7
+6.4%
Selling, general and administrative
275
282
273
-2.4%
Operating income
89.7
103
83.5
-13.2%
Operating margin
10.3%
10.5%
8.6%
Interest expense
9.4
13.5
12.6
-30.4%
Pre-tax income
72.9
87.2
73.6
-16.3%
Income tax
-6.6
10.6
18.6
Effective tax rate
-9.0%
12.2%
25.3%
Net income
79.5
76.5
55.0
+3.8%
Net margin
9.1%
7.7%
5.7%
Diluted EPS
$1.55
$1.48
$1.04
+4.7%
$ 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
FY2021
FY2020
FY2019
On the year
Last 8 years
Operating cash flow
109
158
159
-31.2%
Capital expenditure
37.0
48.8
119
-24.0%
Free cash flow
71.8
109
40.3
-34.4%
Free cash flow margin
8.2%
11.1%
4.2%
Cash from investing
-425
-57.2
-116
Cash from financing
367
-131
-50.6
Depreciation and amortisation
84.3
110
109
-23.6%
Share-based compensation
25.5
20.5
17.2
+24.7%
Buybacks
0.0
175
160
Diluted shares, weighted
51m
52m
53m
-1.0%
Shares outstanding at period end
51m
50m
51m
+1.1%
Balance sheet
$ million
FY2021
FY2020
FY2019
On the year
Last 8 years
Shareholders' equity
732
587
668
+24.6%
Debt
708
382
350
+85.0%
Operating lease liabilities
63.0
52.0
n/a
+21.0%
Other liabilities
318
245
257
+29.4%
Total liabilities and equity
1,820
1,267
1,275
+43.6%
Fixed assets
218
253
344
-14.1%
Goodwill
466
211
211
+121.4%
Intangible assets
365
133
128
+174.6%
Cash and equivalents
192
137
169
+40.1%
Receivables
128
165
185
-22.8%
Inventory
323
270
194
+19.4%
Other assets
128
97.2
43.6
+31.7%
Total assets
1,820
1,267
1,275
+43.6%
10-K for the year ended 3 April 2021, filed 26 May 2021: the filing.