Haemonetics Corporation HAE reported adjusted earnings per share (EPS) of 48 cents in the second quarter of fiscal 2018, up 4.3% year over year. The bottom line also beat the Zacks Consensus Estimate of 41 cents.On a reported basis, Haemonetics posted earnings of 38 cents, flat year over year.Total RevenuesRevenues were up 2.3% year over year (up 2.1% at constant exchange rate or CER) to $225.4 million in the reported quarter. The top line also exceeded the Zacks Consensus Estimate of $220 million.Haemonetics Corporation Price, Consensus and EPS Surprise Haemonetics Corporation Price, Consensus and EPS Surprise | Haemonetics Corporation QuoteGeographically, Haemonetics witnessed a 6.1% year-over-year (same at CER) rise in revenues in North America to $138.8 million. However, international revenues declined 3.1% (down 3.7% at CER) to $86.6 million.Revenues by Product CategoriesHaemonetics reports operating results under four business franchises: Plasma, Haemostasis Management, Cell Processing and Blood Center.At Plasma, reported revenues of $109.8 million (48.7% of total revenues) were up 6% year over year (up 5.7% at CER).Revenues at BloodCenter (31.8% of total revenues) declined 3.4% (down 3.8% at CER) to $71.7 million.Hemostasis Management franchise revenues (8% of total revenues) rose 10.1% (up 10.4% at CER) to $18.1 million. Revenues from Cell Processing dipped 0.7% (down 0.8% at CER) to $25.8 million (11.4% of total revenues).MarginsHaemonetics’ second-quarter gross margin was 46.4%, down 94 basis points (bps) year over year.Operating income was $24.2 million in the second quarter of fiscal 2018, a 2.1% slip year over year. Operating margin contracted 49 bps year over year to 10.8% in the quarter.Financial PositionHaemonetics exited the second quarter of fiscal 2018 with cash and cash equivalents of $203.6 million compared with $171.7 million at the end of the preceding year. The company’s long-term obligations (long-term debt and other long-term liabilities) were $214.8 million in the quarter under review, down from $237.2 million at the end of the first quarter of fiscal 2018. Haemonetics generated operating cash flow of $97.3 million compared with $69.9 million in the year-ago period. Adjusted free cash flow (before transformation and restructuring costs) was $75.3 million this quarter compared with $41.3 million a year ago.Fiscal 2018 GuidanceHaemonetics reaffirmed its fiscal 2018 revenue guidance. The company still expects full-year revenues to be in line with fiscal 2017 revenues. The guidance for Plasma revenue growth remains unchanged in the 3-5% range. Hospital revenue growth is expected within 7-10% (unchanged) band. Blood Center revenues are expected to decline in the range of 7-10% (same as the previous guidance).The stock has seen the Zacks Consensus Estimate for 2018 sales being pegged at $889.5 million.However, the company raised its 2018 adjusted EPS guidance to a new range of $1.65-$1.75 from the earlier band of $1.55-$1.65. The Zacks Consensus Estimate of $1.61 remains below the guided range.Our TakeHaemonetics exited second-quarter fiscal 2018 on a promising note with earnings and revenues both beating the Zacks Consensus Estimate. Continued momentum in new business generation and geographical expansions have helped the company deliver strong results in the recent past. However, we are disappointed with the fact that despite encouraging growth noticed in the Plasma and Hospitals, the company’s sluggish Blood Center business moderated the overall growth in the reporting cycle.The company’s strong cash position boosts investors’ confidence. It is also optimistic about the strong market adoption of its NexSys PCS plasmapheresis system, which recently received an FDA approval. The company’s increased fiscal 2018 adjusted earnings guidance is also impressive.Zacks Rank & Other Key PicksHaemonetics currently has a Zacks Rank #2 (Buy). A few other top-ranked stocks in the broader medical sector are PetMed Express, Inc. PETS, Luminex Corporation LMNX and Intuitive Surgical, Inc. ISRG. PetMed and Luminex sport a Zacks Rank #1 (Strong Buy), while Intuitive Surgical carries a Zacks Rank of 2. You can see the complete list of today’s Zacks #1 Rank stocks here.PetMed reported earnings per share of 43 cents in the second quarter of fiscal 2018, up 79.2% from the year-ago quarter’s 24 cents. Also, gross margin expanded 548 bps year over year to 35.2% in the reported quarter.Luminex reported adjusted earnings per share of 19 cents in the third quarter of 2017, up 216.7% year over year. Revenues increased almost 4.1% year over year to $74.1 million.Intuitive Surgical posted adjusted earnings of $2.77 per share in the third quarter of 2017, up 34.5% year over year. Also, revenues rose 18% year over year to $806.1 million.Wall Street’s Next AmazonZacks EVP Kevin Matras believes this familiar stock has only just begun its climb to become one of the greatest investments of all time. It’s a once-in-a-generation opportunity to invest in pure genius.Click for details >>Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report PetMed Express, Inc. (PETS): Free Stock Analysis Report Intuitive Surgical, Inc. (ISRG): Free Stock Analysis Report Luminex Corporation (LMNX): Free Stock Analysis Report Haemonetics Corporation (HAE): Free Stock Analysis Report To read this article on Zacks.com click here.