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Immucor Announces Record Fiscal Third Quarter Results
Date:4/1/2008

trument sales for 39 Galileo(R) and ECHO(TM) instruments were deferred in this manner while the associated cost of sales of approximately $2.4 million was expensed. As of February 29, 2008, deferred instrument revenues, including deferred service revenues, totaled $24.8 million. Reagent gross margin grew to 81.0% during the third quarter of fiscal 2008 compared to 77.6% in the same period last year.

"We are very pleased with our outstanding quarterly financial results and the number of Echo orders received in the United States, which exceeded our expectations" said Dr. Gioacchino De Chirico, President and Chief Executive Officer. "In the third quarter we received 54 Echo orders in North America and another 16 Echo orders in the rest of the world for a total of 70 in the quarter. We also received orders for 11 Galileo in North America in the third quarter, and another 11 Galileo orders in the rest of the world for a total of 22 in the quarter." Commenting further, Dr. De Chirico stated, "Based on the very positive results of the Galileo Echo launch and continued Galileo placements we believe we can achieve market share gains and revenue growth through an increasing number of instrument placements. Third quarter results were positively impacted as 19 of the 20 Galileo instruments previously sold to the American Red Cross went live in the quarter. As of February 29, 2008, the Company had received orders for a total of 562 Galileo instruments worldwide, including 245 in North America and 317 in the rest of the world, and 516 of these instruments were generating reagent revenues, an increase of 38 in the quarter. As of February 29, 2008, the Company had received orders for a total of 155 Echo instruments worldwide." Dr. De Chirico also noted, "Our recently announced proposed acquisition of BioArray Solutions Ltd. means the Company is positioning itself at the leading edge of technology in blood banking. Our excellent current results, good growth prospects for our
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SOURCE Immucor, Inc.
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