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Immucor Announces Fiscal Third Quarter Results
Date:4/6/2009

NORCROSS, Ga., April 6 /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 third quarter ended February 28, 2009.

Financial Highlights

  • Revenue for the fiscal third quarter of 2009 was $75.3 million, up 12% from $67.0 million in the same period last year.
  • Gross margin was 71.4% in the quarter, compared with 72.1% in the prior year quarter.
  • Net income in the quarter was $19.5 million, compared with $19.3 million for the same quarter last year.
  • Diluted earnings per share totaled $0.27 in the quarter, compared with $0.27 for the same period last year.
  • Cash flow from operations for the nine months ended February 28, 2009 was $54.0 million, compared with $54.1 million in the prior year period.

"We are pleased with the stability of our performance given the current economic environment," stated Dr. Gioacchino De Chirico, Immucor's President and Chief Executive Officer. "The demand for our reagent products, which account for nearly 90% of our total revenue, has remained stable as shown by our earnings and our cash flow."

Nine-Month Results

For the first nine months of fiscal 2009, revenue was $221.5 million, compared with $192.6 million in the prior year period. Gross margin was 72.6%, up from 70.7% in the prior year period. Net income was $56.8 million, or $0.80 per fully diluted share, compared with $53.2 million, or $0.75 per fully diluted share in the prior year period.

Selected Product Revenue and Gross Margin

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SOURCE Immucor, Inc.
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