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Immucor Announces Fiscal First Quarter Results
Date:10/1/2009

NORCROSS, Ga., Oct. 1 /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 its fiscal 2010 first quarter ended August 31, 2009.

Financial Highlights

  • Revenue for the fiscal first quarter of 2010 was $83.1 million, up 14% from $73.2 million in the prior year quarter.
  • Gross margin was 71.9% in the quarter, compared with 73.0% in the prior year quarter. Current quarter gross margin included expenses of approximately $2.3 million related to the Quality Process Improvement Project.
  • Net income in the quarter was $21.3 million, compared with $20.0 million for the same quarter last year.
  • Diluted earnings per share totaled $0.30 in the quarter, compared with $0.28 for the same period last year. The current year quarter included the impact from the Quality Process Improvement Project of approximately $0.02 per diluted share, net of tax.
  • Cash flow from operations for the quarter ended August 31, 2009 was $24.5 million, compared with $21.6 million in the prior year.
  • The current year included a full quarter of results for BioArray Solutions, which was acquired on August 4, 2008.

"Despite the economy, we continue to generate revenue, earnings and cash flow growth due to the needs-based aspect of our business and our focus on automation that improves blood bank operations," stated Dr. Gioacchino De Chirico, Immucor's President and Chief Executive Officer.

    Selected Product Revenue and Gross Margin
                                       ($ amounts in thousands)    Revenue
                       Fiscal Q1 2010      Fiscal Q1 2009          Growth
                       --------------      --------------          -----
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SOURCE Immucor, Inc.
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