Haemonetics Corporation (NYSE:HAE) Q4 2022 Results Conference Call May 10, 2022 8:00 AM ET

Company Participants

Olga Guyette - Director, IR and Treasury

Chris Simon - CEO

James D’Arecca - CFO

Conference Call Participants

Larry Solow - CJS Securities

Drew Ranieri - Morgan Stanley

Andrew Cooper - Raymond James

Mike Matson - Needham & Company

David Turkaly - JMP Securities

Operator

Good morning, ladies and gentlemen. Thank you for standing by, and welcome to Haemonetics Corporation Fourth Quarter Fiscal 2022 Earnings Conference Call. [Operator Instructions] Please be advised that today's conference is being recorded. [Operator Instructions]

I would now like to hand the conference over to your speaker host for today, Olga Guyette, Senior Director of Investor Relations and Treasury. Please go ahead.

Olga Guyette

Good morning, everyone. Thank you for joining us for Haemonetics' Fourth Quarter Fiscal 2020 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 '22 results to our Investor Relations website, along with our fiscal '23 guidance and the analytical tables with the information that we'll refer to on this call. Additionally, we provided a complete P&L, balance sheet, summary statement of cash flows as a reconciliations of our GAAP to non-GAAP financial results and guidance.

Before we get started, unless otherwise noted, all revenue growth rates discussed today are on an organic basis and exclude the impact of currency fluctuation, strategic exits of product lines, acquisitions and divestitures and the impact of the 53rd week in fiscal '21.

As in the past, we will refer to non-GAAP financial measures throughout 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 '21 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. Haemonetics cautions that these forward-looking statements are subject to risks and uncertainties, including the potential impacts from the pandemic on our results and other factors referenced in the safe harbor statement in our earnings release and our filings with the SEC. We do not undertake any obligation to update these forward-looking statements.

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

Chris Simon

Thanks, Olga, and thank you all for joining our earnings call. Today, we reported organic revenue growth of 19% in the fourth quarter and 7% in fiscal '22, and an adjusted earnings per diluted share of $0.65 in the fourth quarter, and $2.58 in fiscal '22, an increase of 41% versus the prior year fourth quarter, and an increase of 10% versus the prior fiscal year.