SECURITIES AND EXCHANGE COMMISSION
Washington, DC 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): April 23, 2003
HAEMONETICS CORPORATION
(Exact Name of Registrant as Specified in its Charter)
Massachusetts 1-10730 04-2882273
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(State or other jurisdiction of (Commission File (IRS Employer
incorporation or organization) Number) Identification Number)
400 Wood Road
Braintree, MA 02184
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(Address of principal executive offices) (Zip Code)
Registrant's telephone number, including area code (781) 848-7100
Item 9. Regulation FD Disclosure.
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The following information is intended to be included under "Item 12.
Results of Operations and Financial Condition" and is included under this
Item 9 in accordance with SEC Release No. 33-8216.
On April 23, 2003, Haemonetics Corporation (the "Company") issued a
press release regarding its financial results for the quarter ended and
fiscal year ended March 29, 2003 and outlook for fiscal 2004. The Company's
press release is attached as Exhibit 99.1 to this Current Report on Form 8-
K.
The information in this Current Report on Form 8-K and the Exhibit
attached hereto shall not be deemed "filed" for purposes of Section 18 of
the Securities Exchange Act of 1934 (the "Exchange Act") or otherwise
subject to the liabilities of that section, nor shall it be deemed
incorporated by reference in any filing under the Securities Act of 1933 or
the Exchange Act, regardless of any general incorporation language in such
filing.
On April 23, 2003, we announced our financial results for the quarter
and fiscal year ended March 29, 2003, and certain other information. The
press release, which has been attached as Exhibit 99.1 discloses two
different types of non-GAAP financial measures; a) "as adjusted" operating
expenses, operating income, income before taxes, tax expense and net income
and b) constant currency comparisons. Both of these are considered non-
GAAP financial measures as defined under SEC rules. Generally, a non-GAAP
financial measure is a numerical measure of a company's performance,
financial position, or cash flows that either excludes or includes amounts
that are not normally excluded or included in the most directly comparable
measure calculated and presented in accordance with generally accepted
accounting principles. In order to fully assess our financial operating
results, management believes that these "as adjusted" and constant currency
figures are both valuable in evaluating our operating performance. With
the "as adjusted" figures, management tries to improve the comparability of
operating performance by excluding special items that are outside our
normal core operations. Foreign currency has a significant effect on our
business and management needs to be able to isolate its effect. However,
all non-GAAP measures should be considered in addition to, and not as a
substitute for, or superior to, operating income or other measures of
financial performance prepared in accordance with generally accepted
accounting principles as more fully discussed in our financial statements
and filings with the SEC. These non-GAAP measures included in our press
release have been reconciled to the nearest GAAP measure as is now required
under new SEC rules regarding the use of non-GAAP financial measures.
As used herein, "GAAP" refers to accounting principles generally
accepted in the United States
Exhibits
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99.1 Press Release, dated April 23, 2003, of Haemonetics
Corporation.
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934,
the Registrant has duly caused this report to be signed on its behalf by
the undersigned hereunto duly authorized.
HAEMONETICS CORPORATION
Date: April 23, 2003 By: s/ Ronald J. Ryan
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Ronald J. Ryan, Senior Vice President
and Chief Financial Officer