Immucor tops Q3 profit estimates and reaffirms FY 09 guidance

Posted Apr 6th 2009 5:30PM by Trey Thoelcke
Filed under: Earnings Reports

Immucor Inc. (NYSE: BLUD), a producer of blood-testing systems, reported Monday that thinner profit margins were offset by increased sales in its fiscal third quarter, resulting in a narrowly higher profit.

In the three months that ended Feb. 28, Immucor's net income increased to $19.5 million, or 27 cents per share, from $19.3 million in the same period of last year. Revenue rose 12% to $75.3 million. Analysts surveyed by Thomson Reuters had forecast a profit of 22 cents per share and $73.2 million in revenue.

The Norcross, Ga.-based company also said it expects its fiscal 2009 profit to come in at or above the upper end of its previously forecast range, or $1.02 per share. It reaffirmed its revenue estimate of $292 million to $300 million. Analysts are thus far anticipating earnings of 99 cents per share on revenue of $297 million for the 12 months ending May 31.

Immucor shares rose $1.19, or 5.0%, in afterhours trading to $25.25. That's almost 10% lower than a year ago.

Tags: BLUD, earnings, Immucor