8-K

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: May 12, 2010 (Date of earliest event reported)
HemaCare Corporation (Exact name of registrant as specified in its charter)
CA (State or other jurisdiction of incorporation)	0-15223 (Commission File Number)	95-3850412 (IRS Employer Identification Number)
15350 Sherman Way (Address of principal executive offices)		91406 (Zip Code)
818-226-1968 (Registrant's telephone number, including area code)
Not Applicable (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:

o Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

o Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

o Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

o Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Item 2.02. Results of Operations and Financial Condition

Rider A

On May 12, 2010, HemaCare Corporation issued a press release announcing financial results for the first quarter of 2010. A copy is attached as Exhibit 99.1 to this report and is incorporated herein by reference.

The information in this Current Report on Form 8-K, including the exhibits, will not be treated as "filed" for purposes of Section 18 of the Securities ad Exchange Act of 1934 (the "Exchange Act") or otherwise subject to the liabilities of that section. This information will not be incorporated by reference into a filing under the Securities Act of 1933, or into another filing under the Exchange Act, unless that filing expressly refers to specific information in this report.

Item 9.01. Financial Statements and Exhibits

(a) Financial statements:
            None
(b) Pro forma financial information:
            None
(c) Shell company transactions:
            None
(d) Exhibits
            99.1       Press Release of HemaCare Corporation dated May 12, 2010

SIGNATURE

      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.

Dated: May 12, 2010
HEMACARE CORPORATION By:  /s/ Pete van der Wal                    
     Pete van der Wal
     CEO

Exhibit Index
Exhibit No.	Description
99.1	Press Release of HemaCare Corporation dated May 12, 2010

EX-99

HemaCare Reports First Quarter Results

LOS ANGELES, CA -- (Marketwire - May 12, 2010) - HemaCare Corporation (OTCBB: HEMA) announced today first quarter 2010 results, with revenue of $7.85 million and a net loss of $204,000, or $0.02/share, compared to first quarter 2009 revenue of $9.71 million and net income of $69,000, or $0.01/share. Results for the 2010 first quarter included separation payments to the Company's prior Chief Executive Officer and Chief Financial Officer which totaled $184,000.

Commenting on the results, Pete van der Wal, the Company's Chief Executive Officer, stated, "While we are pleased to start 2010 debt-free and with a strong cash position, we are not satisfied with the operating results from our first quarter. We are intently focused on revenue growth and stringent expense control, and expect to see results of these efforts in the coming quarters."

About HemaCare Corporation

Founded in 1978, HemaCare provides the customized delivery of blood products and services. The Company collects, processes, purchases and distributes blood products to hospital and research related organizations and provides blood related services, principally therapeutic apheresis procedures, stem cell collection and other blood treatments to patients with a variety of disorders. HemaCare is licensed by the FDA and accredited by the AABB.

This press release also contains "forward-looking statements" under the safe harbor provisions of the Private Securities Litigation Reform Act of 1995 (Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended). Statements herein that are not historical facts are forward-looking statements pursuant to the safe harbor provisions referenced above. You may also identify forward-looking statements by use of the words "anticipates," "expects," "intends," "plans" and similar expressions. The forward-looking statements in this press release include statements that HemaCare expects to see in the coming quarters the initial results of its efforts to resume revenue growth and control costs. Forward-looking statements are inherently subject to risks and uncertainties some of which cannot be predicted or quantified. Such risks and uncertainties include, without limitation, the following: a reduction in operating margins occasioned by costs increasing more r apidly than market prices, the reduced demand for blood products, declining blood donations, the loss of customers or the inability to pass on cost increases due to increased competition, an increase in operating costs due to changes in industry regulations and standards, a decrease in reimbursement rates; our competitive position may decline due to the potential adverse effect from changes in the healthcare industry, including consolidations, which could affect access to customers, our inability to attract, retain and motivate management and other skilled employees, an increased emphasis by our competitors on customer service may diminish the advantages we enjoy from our service-focused operations, and our competitors' not-for-profit status gives them advantages in acquiring customers; and the other risks and uncertainties discussed from time to time in the documents HemaCare files with the Securities and Exchange Commission. Although the Company believes that the expectations reflected in such forward-look ing statements are reasonable, it can give no assurance that such expectations will prove to be correct. Consequently, future events and actual results could differ materially from those set forth in, contemplated by, or underlined in the forward-looking statements contained herein. The Company undertakes no obligation to update any of these forward-looking statements to reflect actual results or events or circumstances after the date hereof.

                            HemaCare Corporation
                        Condensed Consolidated Data
                                 (Unaudited)
                        Three Months Ended March 31,

                                                     2010          2009
                                                ------------- -------------
Statements of (Operations) Income:

Revenue                                         $  7,847,000  $  9,711,000

Gross Profit                                    $  1,388,000  $  1,535,000
                                                ------------- -------------

General and administrative expenses             $  1,580,000  $  1,451,000
                                                ------------- -------------

(Loss) income before income taxes and
 discontinued operations                        $   (192,000) $     84,000

Provision for income taxes                      $          -  $      3,000
                                                ------------- -------------

Net (loss) income before discontinued
 operations                                     $   (192,000) $     81,000

Loss from discontinued operations, net of tax   $    (12,000) $    (12,000)
                                                ------------- -------------

Net (loss) income                               $   (204,000) $     69,000
                                                ============= =============

Basic and diluted (loss) earnings per share     $      (0.02) $       0.01
                                                ============= =============

Weighted average shares outstanding - basic       10,050,000     9,904,000
                                                ============= =============

Weighted average shares outstanding - diluted     10,050,000     9,975,000
                                                ============= =============

                                                      3/31/10     12/31/09
          Assets
          Cash and cash equivalents                $  1,619,000 $  1,007,000
          Other current assets                        5,467,000    5,368,000
          Non-current assets                          4,070,000    4,200,000
                                                   ------------ ------------
          Total assets                             $ 11,156,000 $ 10,575,000
                                                   ============ ============

          Liabilities and Shareholders' Equity
          Current liabilities                      $  5,190,000 $  4,450,000
          Long-term liabilities                         584,000      600,000
          Shareholders' equity                        5,382,000    5,525,000
                                                   ------------ ------------
          Total liabilities and shareholders'
           equity                                  $ 11,156,000 $ 10,575,000
                                                   ============ ============

Contact:
HemaCare Corporation
Pete van der Wal
Chief Executive Officer and Chief Financial Officer
877-310-0717
www.hemacare.com