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Immucor Announces Fiscal Fourth Quarter Results
Date:7/23/2009

Cash flow from operations for the year ended May 31, 2009 was $79.8 million, compared with $75.1 million in the prior year.
  • The current year financials included 10 months of results for BioArray.
  • "For fiscal 2009, we achieved record revenue, earnings and cash flow from operations," stated Dr. Gioacchino De Chirico, Immucor's President and Chief Executive Officer. "Our growth has been driven by the success of our automation strategy combined with the fact that our reagent product offering is necessary to ensure the safety of transfusions."

        Selected Product Revenue and Gross Margin
                                            ($ amounts in thousands)
                                                                     Revenue
                           Fiscal Q4 2009     Fiscal Q4 2008          Growth
    
                                     Gross                Gross
                         Revenue     Margin    Revenue    Margin    $       %
        Traditional
         reagents         $52,149    75.3%    $45,274     77.4%  $6,875    15%
        Capture reagents   17,057    84.1%     15,027     86.5%   2,030    14%
        Instruments         9,058    18.0%      8,312     16.0%     746     9%
    
    

    Consolidated revenue was $79.0 million in the current year quarter, an increase of approximately $10.4 million, or 15%, over the fourth quarter of fiscal 2008. Revenue in the quarter benefited from both price and volume contributions. Revenue in the quarter was negatively impacted by approximately $3.0 million from foreign currency translation as compared with the fourth quarter of fiscal 2008.

    Consolidated gross margin was $55.2 million, or 69.9% of revenue, in the current year quarter compared with $49.4 million, or 72.0% of revenue, in the prior year quarter. During the current year quarter, gross margin was negatively impacted by costs related to the Company's Quality Process I
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    SOURCE Immucor, Inc.
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