Immucor Announces Fiscal Second Quarter Results; Raises Fiscal 2009 EP...( NORCROSS Ga. Jan. 7 /- Immucor In...),Health

NORCROSS, Ga., Jan. 7 /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 second quarter ended November 30, 2008.

Financial Highlights

-- Revenue for the fiscal second quarter of 2009 was $73.0 million, up 18% from $61.9 million in the same period last year.

-- Gross margin was 73.3% in the quarter, compared with 67.6% in the prior year quarter.

-- Net income in the quarter was $17.3 million, up from $16.2 million for the same quarter last year.

-- Diluted earnings per share totaled $0.24 in the quarter, compared with $0.23 for the same period last year.

-- During the quarter, the Company repurchased 200,000 shares of its common stock at a total cost of $4.7 million under its stock repurchase program.

"Our second quarter results demonstrate the strength of our business model with its strong recurring revenue and cash flow," stated Dr. Gioacchino De Chirico, President and Chief Executive Officer. "We have what I believe to be the leading technology for automating the blood bank, which positions us well as the market moves towards automation."

Six-Month Results

For the first six months of fiscal 2009, revenue was $146.2 million, compared with $125.6 million in the prior year period. Gross margin was 73.2%, up from 69.9% in the prior year period. Net income was $37.3 million, or $0.52 per fully diluted share, compared with $33.9 million, or $0.48 per fully diluted share in the prior year period. Cash flow from operations was $32.3 million for the first six months of fiscal 2009, compared with $26.6 million for the first six months of fiscal 2008.

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SOURCE  Immucor, Inc.
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