Haemonetics down on revenue miss, sales cut

|About: Haemonetics Corp (HAE)|By:, SA News Editor

Haemonetics (HAE -8.6%) erases all of this month's gains on the back of a Q1 revenue miss and lowered FY14 sales guidance.

Janney Montgomery says that while HAE management tried to paint the recent quarter's revenue weakness as more one-time than long-lasting, the recent trends in lowering growth expectations is likely be noticed by investors.

However, despite the revenue miss and downshift in growth guidance, Janney still says it remains bullish on the stock, largely due to the company's earnings leverage that was clearly seen during Q1 and expected to last through FY14.