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IMMUCOR REPORTS FIRST QUARTER RESULTS

 NORCROSS, Ga., Oct. 13 /PRNewswire/ -- Immucor, Inc. (NASDAQ-NMS: BLUD), maker of blood bank reagent systems and related products, announced today net income for the three months ended Aug. 31 totaled $567,956 compared to $991,383 a year ago.
 Earnings per share totaled $.07 vs. $.13 per share last year. Net sales for the quarter ended Aug. 31 totaled $7,532,588 compared to $7,637,647 last year.
 In commenting on first quarter results, Edward L. Gallup, president of Immucor, Inc., said: "Research and development expenses increased substantially in the current year, as Immucor continued funding development of a fully automated, or 'walk-away,' hospital blood bank medical instrument. During the current period, approximately $598,000, or $.05 per share in additional after tax research and development expense, was incurred. In addition, other income, as compared to the prior year three month period, declined $224,000, primarily due to $82,000 of foreign currency transaction losses on purchases of inventory in Italy in the current period, vs. $99,000 of currency transaction gains in the prior year period. First quarter 1993 results also included a retroactive research and development tax credit of $95,000 resulting from the Omnibus Budget Reconciliation Act of 1993 enacted on Aug. 10."
 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 test 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 8/31/93 8/31/92
 Net sales $ 7,532,588 $ 7,637,647
 Cost of sales 2,805,452 2,773,568
 Gross profit 4,727,136 4,864,079
 Research and development:
 Instrument 598,042 ---
 General 113,541 3,325,779
 Selling, general and
 administrative 3,826,234 3,428,236
 Total operating
 expenses 3,826,234 3,428,236
 Income from
 operations 900,902 1,435,843
 Other income 37,769 261,380
 Interest expense (152,316) (185,436)
 Other expense (1,517) (12,322)
 Total other (116,064) 63,622
 Income before income
 taxes 784,838 1,499,465
 Provision for
 income taxes 216,882 508,082
 Net income $ 567,956 $ 991,383
 Net income per common and
 com. equiv. share $0.07 $0.13
 -0- 10/13/93
 /CONTACT: Richard J. Still, senior vice president-finance of Immucor Inc., 404-441-2051/
 (BLUD)


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

RA-TG -- AT004 -- 1476 10/13/93 08:04 EDT
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Publication:PR Newswire
Date:Oct 13, 1993
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