Immucor Announces Fiscal Fourth Quart...( NORCROSS Ga. July 23 /- I...),Health

NORCROSS, Ga., July 23 /PRNewswire-FirstCall/ -- Immucor, Inc. (Nasdaq: BLUD), a global leader in providing automated instrument-reagent systems to the blood transfusion industry, today reported financial results for the fiscal fourth quarter ended May 31, 2009.

Fourth Quarter Financial Highlights

• Revenue for the fiscal fourth quarter of 2009 was $79.0 million, up 15% from $68.6 million in the same period last year.
• Gross margin was 69.9% in the quarter, compared with 72.0% in the prior year quarter. Current quarter gross margin included expenses of approximately $1.8 million related to the Quality Process Improvement Project.
• Net income in the quarter was $19.4 million, compared with $18.3 million for the same quarter last year.
• Diluted earnings per share totaled $0.27 in the quarter, compared with $0.26 for the same period last year. The current year quarter included the impact from the Quality Process Improvement Project of approximately $0.02 per diluted share, net of tax.
• The current year quarter included the results of BioArray Solutions, which was acquired on August 4, 2008.
  

Full Year Results

• For fiscal 2009, revenue was $300.5 million, up 15% from $261.2 million in the prior year.
• Gross margin was 71.9%, up from 71.0% in the prior year. Full year gross margin included expenses related to the Quality Process Improvement Project of approximately $2.4 million.
• Net income was $76.2 million, or $1.07 per diluted share, compared with $71.5 million, or $1.00 per diluted share in the prior year. Fiscal 2009 included expenses related to the Quality Process Improvement Project of approximately $0.02 per diluted share, net of tax.
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