UPDATE 1-Haemonetics Q1 profit tops estimates, keeps 2010 view

Mon Aug 3, 2009 9:30am EDT

* Q1 EPS $0.69 vs est $0.65

* Q1 revenue falls short of St view

* Reaffirms FY '10 EPS $2.75-$2.85, 8-11 pct rev growth

Aug 3 (Reuters) - Automated blood-processing systems maker Haemonetics Corp (HAE.N) reported a higher-than-expected quarterly profit as margins rose.

For the quarter, net income was $18.1 million, or 69 cents a share, compared with net income of $14.3 million, or 54 cents a share, a year earlier.

Net revenue was $154.1 million.

Analysts on an average expected the company to earn 65 cents a share, before items, on revenue of $156.6 million, according to Reuters Estimates.

Plasma disposables revenue grew 26 percent to $59 million, while platelet disposables sales fell 4 percent to $34 million. Platelet disposables revenue fell as currency devaluations in Korea pressured its distributor's sales, the company said.

Gross margin grew 310 basis points to 53.8 percent.

Shares of the company closed at $59.01 on the New York Stock Exchange on Friday. (Reporting by Anuradha Ramanathan in Bangalore; Editing by Aradhana Aravindan)

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