UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 OR 15(d) of The Securities Exchange Act of 1934
Date of Report (Date of earliest event reported): July 22, 2019
HAEMONETICS CORPORATION
(Exact name of registrant as specified in its charter)
Massachusetts | 001-14041 | 04-2882273 | ||
(State or other jurisdiction of incorporation) | (Commission File Number) | (I.R.S. Employer Identification No.) | ||
400 Wood Road, Braintree, MA | 02184 | |
(Address of principal executive offices) | (Zip Code) | |
Registrant’s telephone number, including area code: 781-848-7100
(Former name or former address, if changed since last report.)
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below): | |
o | Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) |
o | Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) |
o | Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) |
o | Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) |
Securities registered pursuant to Section 12(b) of the Act: | ||
Title of each class | Trading Symbol(s) | Name of each exchange on which registered |
Common stock, $.01 par value per share | HAE | New York Stock Exchange |
Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter). |
Emerging Growth Company o |
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. o |
Item 7.01 Regulation FD Disclosure.
On July 22, 2019, Haemonetics Corporation (the "Company") issued a press release announcing changes to its financial reporting segments and business units that correspond with the Company's transition to a customer-centric business unit structure. The Company will report results in three segments: Plasma, Hospital and Blood Center. In connection with this announcement, the Company has posted to the Investor Relations page on its website (www.haemonetics.com) a presentation describing the reporting changes, analytical tables with two years of historical revenue information in the new segment structure and, for illustrative purposes, its fiscal year 2020 revenue guidance issued on May 14, 2019 in the new customer-centric business unit structure.
A copy of the press release is attached to this Current Report on Form 8-K as Exhibit 99.1.
Item 9.01 Financial Statements and Exhibits.
(d) Exhibits
Exhibit Number | Description | |
Press release dated July 22, 2019 | ||
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, as amended, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
HAEMONETICS CORPORATION | ||||
Date: July 22, 2019 | By: | /s/ William P. Burke | ||
Name: | William P. Burke | |||
Title: | Executive Vice President, Chief Financial Officer | |||
Exhibit 99.1
 | News Release | |
Investor Contacts | Media Contact | |
Gerry Gould, VP-Investor Relations (781) 356-9402 gerry.gould@haemonetics.com | Carla Burigatto, VP-Communications (781) 348-7263 carla.burigatto@haemonetics.com | |
Olga Vlasova, Sr. Mgr.-Investor Relations (781) 356-9763 olga.vlasova@haemonetics.com | ||
Haemonetics Corporation Updates Financial Reporting Segments
Braintree, MA, July 22, 2019 – Haemonetics Corporation (NYSE:HAE) announced changes to its financial reporting segments and business units. The updated reporting segments and business units correspond with Haemonetics’ transition to a customer-centric business unit structure, which more accurately reflects market realities and opportunities for growth within each one of the Company’s three businesses. The Company will report results in three segments: Plasma, Hospital and Blood Center. For illustrative purposes, the Company has provided Fiscal Year 2020 revenue guidance issued on May 14, 2019 in the new customer-centric business unit structure and will report first quarter Fiscal Year 2020 results in the new segments.
The Company has also posted a presentation describing reporting changes and provided analytical tables with two years of historical revenue information in the new segment structure on the Investor Relations website under the section “Guidance and Analytical tables”.
Direct link to Reporting Segment Changes Presentation:
LINK: https://haemonetics.gcs-web.com/static-files/86d8626e-e70d-4ee3-8839-4b9a340e1dd5
Direct link to Analytical Tables with historical revenues:
LINK: https://haemonetics.gcs-web.com/static-files/b2e7ec09-dcc4-4017-b9af-ee4d81085a48
Direct link to Fiscal Year 2020 Revenue guidance in the new customer-centric business unit structure:
LINK: https://haemonetics.gcs-web.com/static-files/b0d7ca96-02e4-4867-93ec-65249e7d3305
ABOUT HAEMONETICS
Haemonetics (NYSE: HAE) is a global healthcare company dedicated to providing a suite of innovative hematology products and solutions for our customers to help them improve patient care and reduce the cost of healthcare. Our technology addresses important medical markets: blood and plasma component collection, the surgical suite, and hospital transfusion services. To learn more about Haemonetics, visit our web site at http://www.haemonetics.com.
FORWARD-LOOKING STATEMENTS
Any statements contained in this press release that do not describe historical facts may constitute forward-looking statements. Forward-looking statements in this press release may include, without
limitation, statements, estimates and projections regarding the Company’s future business strategy and prospects for growth, future financial performance and the assumptions underlying or relating to such statements. Such forward-looking statements are not meant to predict or guarantee actual results, performance, events or circumstances and may not be realized because they are based
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upon the Company's current projections, plans, objectives, beliefs, expectations, estimates and assumptions and are subject to a number of risks and uncertainties and other influences. Factors that may influence or contribute to the inaccuracy of the forward-looking statements or cause actual results to differ materially from expected or desired results may include, without limitation, the Company’s ability to implement the Complexity Reduction Initiative as planned, on the anticipated timeline and at the anticipated cost, our ability to realize the estimated savings from the Complexity Reduction Initiative, the impact of share repurchases on the Company’s stock price and volatility, as well as the effect of short-term price fluctuations on the program’s effectiveness, technological advances in the medical field and standards for transfusion medicine and the Company’s ability to successfully offer products that incorporate such advances and standards, product quality, market acceptance, regulatory uncertainties, including in the receipt or timing of regulatory approvals, the effect of economic and political conditions, the impact of competitive products and pricing, blood product reimbursement policies and practices, and the effect of industry consolidation as seen in the plasma market. These and other factors are identified and described in more detail in the Company's periodic reports and other filings with the U.S. Securities and Exchange Commission. The Company does not undertake to update these forward-looking statements.
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