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Immucor Announces Record Fiscal First Quarter Revenues
Date:10/3/2007

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"We are pleased with our quarterly results," said Dr. Gioacchino De Chirico, President and Chief Executive Officer. "Revenues and net income were both records for a fiscal first quarter, and revenues were also a record for any fiscal quarter. Our strategies to grow our business and the execution of our plan continue to generate outstanding results in terms of revenues, margins and net income." Commenting further, Dr. De Chirico stated, "Based on the very positive customer reaction to the launch of the Galileo ECHO(TM) in the United States and Europe we believe we can achieve future market share gains and revenue growth through continued Galileo(R) placements and now placements of the Galileo ECHO(TM). We previously announced that the Company has commenced research and development work on a second generation Galileo and we expect that improvements in the second generation Galileo will extend by several years the life of the instrument in the market. As of August 31, 2007, the Company had received purchase orders for a total of 504 Galileo instruments worldwide (an increase of 23 in the quarter), including 292 in Europe, 210 in North America and 2 in Japan, and 456 of these instruments were generating reagent revenues, an increase of 33 in the quarter. As of August 31, 2007, the Company had received purchase orders for a total of 30 Echo instruments worldwide."

Selected Highlights

-Sales of traditional reagent products, i.e., products not using the Company's patented Capture(R) technology, increased $7.6 million, or 20%, from $37.5 million in the first quarter of 2007 to $45.1 million in the first quarter of 2008. Sales of Capture products increased approximately $2.7 million to $11.9 million, a 30% increase over the prior year quarter.

-The gross margin on traditional reagents was 79.6% for the current quarter, compared with 74.2% in the prior year quarter. The increase in gross margin is primarily due to price increases in the United Stat
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SOURCE Immucor, Inc.
Copyright©2007 PR Newswire.
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