RTTNews | Nov 4, 2020 06:14AM EST

06:14 Wednesday, November 4, 2020 (RTTNews.com) - Healthcare company Haemonetics Corp. (HAE) reported Tuesday that net income for the second quarter grew to $48.10 million or $0.94 per share from $37.49 million or $0.72 per share in the prior-year quarter. Excluding items, adjusted earnings were $0.62 per share, compared to last year's $0.87 per share.

Net revenue for the quarter decreased 17.1 percent to $209.49 million from last year's $252.57 million, primarily driven by the continued negative impact of COVID-19. Organic revenue was down 15.5 percent.

On average, analysts polled by Thomson Reuters expected the company to report earnings of $0.51 per share on revenue of $207.65 million for the quarter. Analysts' estimates typically exclude special items.

Looking ahead, the company said it did not issue fiscal 2021 guidance due to the continued uncertainty about the pace and timing of the COVID-19 pandemic and recovery.

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