Haemonetics Corporation (NYSE:HAE) Q4 2023 Earnings Conference Call May 11, 2023 8:00 AM ET

Company Participants

David Trenk - Manager, Investor Relations

Christopher Simon - Chief Executive Officer

James D'Arecca - Executive Vice President and Chief Financial Officer

Conference Call Participants

Anthony Petrone - Mizuho

Larry Solow - CJS Securities

David Turkaly - JMP Securities

Mike Matson - Needham & Company

Drew Ranieri - Morgan Stanley

Michael Petusky - Barrington Research

Operator

Good day and thank you for standing by. Welcome to the Fourth Quarter 2023 Haemonetics Corporation's Earnings Conference Call. At this time, all participants are in listen-only mode. After the speakers' presentation, there will be a question-and-answer session. [Operator Instructions] Please be advised that today's conference is being recorded.

I would now like to turn the conference over to your speaker today, David Trenk, Investor Relations. Please go ahead.

David Trenk

Good morning, everyone. Thank you for joining us for Haemonetics fourth quarter fiscal 2023 conference call and webcast. I'm joined today by Chris Simon, our CEO; and James D'Arecca, our CFO.

This morning, we posted our fourth quarter fiscal 2023 results to our Investor Relations website, along with our fiscal 2024 guidance and the analytical tables with the information that we will refer to on this call. Additionally, we've provided a complete P&L, balance sheet, summary statement of cash flows as well as reconciliations of our GAAP to non-GAAP financial results and guidance. Unless otherwise noted, all revenue growth rates discussed today are organic and exclude the impact of currency fluctuation and strategic exits of product lines.

As in the past, we'll refer to non-GAAP financial measures throughout this call to help investors understand Haemonetics ongoing business performance. Please note that these measures exclude certain charges and income items. Please refer to this morning's earnings release for details on excluded items including comparisons with the same periods of fiscal 2022 and a reconciliation to our GAAP results.

Our remarks today include forward-looking statements, and our actual results may differ materially from the anticipated results. Factors that may cause our results to differ include those referenced in the Safe Harbor statement in today's earnings release and in our other SEC filings. We do not undertake any obligation to update these forward-looking statements.

And now I'd like to turn it over to Chris.

Christopher Simon

Thanks, David. Good morning and thank you all for joining. Today, we reported organic revenue growth of 17% in the fourth quarter and 21% in fiscal 2023. We reported adjusted earnings per diluted share of $0.77 in the fourth quarter and $3.03, in fiscal 2023, increases of 18% and 17% respectively.