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UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 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) January 29, 2007
HAEMONETICS CORPORATION
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(Exact name of registrant as specified in its charter)
Massachusetts 1-10730 04-2882273
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(State or other jurisdiction (Commission (I.R.S. Employer
of incorporation) File Number) Identification No.)
400 Wood Road 02184
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(Address of principal executive offices) (Zip Code)
Registrant's telephone number, including area code 781-848-7100
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(Former name or former address, if changed since last report.)
Check the appropriate box below if the Form 8-K filing is intended to
simultaneously satisfy the filing obligation of the registrant under any of the
following provisions (see General Instruction A.2. below):
[ ] Written communications pursuant to Rule 425 under the Securities
Act (17 CFR 230.425)
[ ] Soliciting material pursuant to Rule 14a-12 under the Exchange
Act (17 CFR 240.14a-12)
[ ] Pre-commencement communications pursuant to Rule 14d-2(b) under the
Exchange Act (17 CFR 240.14d-2(b))
[ ] Pre-commencement communications pursuant to Rule 13e-4(c) under the
Exchange Act (17 CFR 240.13e-4(c))
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ITEM 7.01 REGULATION FD DISCLOSURE
On January 29, 2007 Haemonetics Corporation (the "Company") received $6 million
in full satisfaction of its claims against Baxter Healthcare Corporation, Baxter
International Inc. and Baxter Healthcare SA (together "Baxter") related to
certain platelet pathogen reduction contracts. In connection with the settlement
of these claims, the Technology Development Agreement and Requirements Contract
between the Company and Baxter are terminated, and Haemonetics no longer retains
any rights to distribute the INTERSOL product (note INTERSOL is a registered
trademark of Baxter). Haemonetics will record the receipt of this settlement in
the fourth quarter ending March 31, 2007. The settlement will have a favorable
impact of $.12 on our fourth quarter earnings per share.
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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
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(Registrant)
Date: January 30, 2007 /s/ Christopher Lindop
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Christopher Lindop, Vice President
and Chief Financial Officer
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