Printer Friendly

IMMUCOR REPORTS THIRD QUARTER RESULTS

 NORCROSS, Ga., April 13 /PRNewswire/ -- Immucor, Inc. (NASDAQ-NMS: BLUD), maker of blood reagent systems and related products, announced today net income for the three months ended Feb. 28 totaled $269,785 vs. $700,512 last year.
 Earnings per share for the three-month period was $.04, vs. $.08 per share for the same period last year. For the nine months, net income was $1,820,415, vs. $2,407,800 last year. Nine-month earnings per share totaled $.25 vs. last year's $.27 per share.
 Revenues for the quarter ended Feb. 28 were $7,221,922, compared to $7,142,446 last year. For the nine-month period, revenues totaled $22,476,324 vs. $20,016,609 last year.
 Commenting on third quarter results, Edward L. Gallup, president of Immucor, said: "Continuing research and development charges for our previously announced, automated blood bank instrument project added an additional charge of $437,000, which is approximately $.04 per share in after-tax expense this quarter. In addition, foreign currency transaction losses on purchases of inventory in Italy and Germany totaled $225,000 during the third quarter."
 Founded in 1982, Immucor manufactures and sells a complete line of reagents and systems used primarily by hospitals and blood banks in a number of tests performed to detect and identify certain properties of the cell and serum components of human blood prior to blood transfusion.
 IMMUCOR, INC.
 Statements of Income
 (Unaudited)
 3 Months Ended 9 Months Ended
 2/28/93 2/29/92 2/28/93 2/29/92
 Net sales $7,221,922 $7,142,446 $22,476,324 $20,016,609
 Cost of sales 2,919,778 2,922,193 8,445,266 8,184,306
 Gross profit 4,302,144 4,220,253 14,031,058 11,832,303
 Research and development:
 Contract 437,492 --- 794,828 ---
 General 127,527 125,579 346,360 379,228
 Selling, general and
 administrative 3,127,775 3,015,761 9,777,548 7,955,652
 Total operating
 expenses 3,692,794 3,141,340 10,918,736 8,334,880
 Income from
 operations 609,350 1,078,913 3,112,322 3,497,423
 Other income 3,327 199,929 298,202 632,349
 Interest expense (182,746) (203,974) (584,991) (436,973)
 Other expense --- (15,655) (26,267) (21,526)
 Total other (179,419) (19,700) (313,056) 173,850
 Income before income
 taxes 429,931 1,059,213 2,799,266 3,671,273
 Provision for
 income taxes 160,146 358,701 978,851 1,263,473
 Net income $269,785 $700,512 $1,820,415 $2,407,800
 Net income per common and
 com. equiv. share $0.04 $0.08 $0.25 $0.27
 Balance sheet available upon request.
 -0- 4/13/93
 /CONTACT: Richard J. Still, senior vice president-finance of Immucor Inc., 404-441-2051/
 (BLUD)


CO: Immucor, Inc. ST: Georgia IN: MTC SU: ERN

BN-RA -- AT002 -- 5036 04/13/93 08:02 EDT
COPYRIGHT 1993 PR Newswire Association LLC
No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 1993 Gale, Cengage Learning. All rights reserved.

Article Details
Printer friendly Cite/link Email Feedback
Publication:PR Newswire
Date:Apr 13, 1993
Words:489
Previous Article:DELCHAMPS ANNOUNCES THIRD QUARTER RESULTS
Next Article:THE COCA-COLA COMPANY REPORTS 21 PERCENT JUMP IN FIRST QUARTER EARNINGS PER SHARE
Topics:


Related Articles
IMMUCOR SEES FLAT EARNINGS FOR FISCAL YEAR
IMMUCOR REPORTS YEAR-END AND FOURTH QUARTER RESULTS
IMMUCOR REPORTS FIRST QUARTER RESULTS
IMMUCOR REPORTS THIRD QUARTER RESULTS
IMMUCOR REPORTS YEAR-END AND FOURTH QUARTER RESULTS
IMMUCOR REPORTS THIRD QUARTER RESULTS
IMMUCOR REPORTS THIRD QUARTER RESULTS
IMMUCOR ANTICIPATES LOWER EARNINGS
IMMUCOR REPORTS YEAR END RESULTS
Immucor Reports Third Quarter Results

Terms of use | Copyright © 2016 Farlex, Inc. | Feedback | For webmasters