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Immucor Announces Record Fiscal Third Quarter Results

n expenses increased by $0.5 million in the third quarter

and selling and marketing expenses increased by $0.8 million as

compared to the prior year quarter. Distribution costs were impacted

in the United States by $0.2 million in higher shipping costs partly

due to higher sales volumes and higher fuel costs, and a $0.1 million

increase in personnel costs. Selling and marketing expenses were

impacted by an increase in personnel costs of $0.5 million in the

United States and $0.2 million in Japan. General and administrative

expenses increased by $1.0 million for the third quarter of fiscal

2008 as compared to the prior year quarter. General and administrative

expenses in the United States were impacted by a $0.6 million increase

in personnel costs, and a $0.3 million increase in consulting costs.

Our recent decision to set up a new French subsidiary increased

general and administrative expenses by approximately $0.2 million and

the change in the Euro exchange rate resulted in a $0.2 million

increase. Partially offsetting these increases was a reduction in

audit fees of $0.3 million and a reduction in legal fees of

approximately $0.2 million. Research and development expenses

decreased by $0.1 million to $1.5 million in the third quarter of

fiscal 2008 as compared to the prior year quarter. Overall, operating

expenses increased by $0.8 million as a result of the effect of the

change in the Euro, Japanese Yen and Canadian dollar exchange rates.

-- Operations continue to generate strong cash flow. Cash and cash

equivalents totaled $163.9 million at the end of the current quarter

compared to $137.8 million at the end of the prior quarter and

$113.6 million at May 31, 2007.

We now believe that our revenue, gross margin

SOURCE Immucor, Inc.
Copyright©2008 PR Newswire.
All rights reserved

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