Haemonetics highlighted as doing well in recession

Haemonetics has been named as a company that may hold up “relatively well” during the recession.

Medical device firms were once resilient to times of economic downturn, explained RTT News.

However, many healthcare companies have now “hit the panic button” in light of the current financial situation.

“Amid a string of stock disasters, Haemonetics ? is one of the standout performers, as the stock has managed to hold up relatively well,” the financial newswire remarked.

Last month, the company released its third quarter fiscal 2009 results, showing its operating income had increased by 25 per cent and net earnings per share had grown by 15 per cent.

The business’ chairman and chief executive officer Brad Nutter said the firm was seeing strength across its diversified product lines ? despite the challenging global economic downturn.

“I’m particularly pleased to note that year-to-date reported revenue growth is double digits in all of our geographies,” he asserted. “Haemonetics’ outlook for the future is strong.”

The company, which markets its products in over 50 countries, employs 1,800 people.