Printer Friendly

IMMUCOR REPORTS THIRD QUARTER RESULTS

 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 3 months ended Feb. 29 totaled $700,512, versus $841,590 last year.
 Earnings per share for the 3 month period was $.08, versus $.10 per share for the same period last year. For the nine months, net income was $2,407,800, versus $2,215,700 last year. Nine month earnings per share remained the same as last year's $.27 per share.
 Revenues for the quarter ended Feb. 29 totaled $7,142,446, compared to $5,910,262 last year, and included approximately $1.0 million from the acquisition of Immucor's Italian subsidiary on Sept. 28, 1991. For the 9 month period, revenues totaled $20,016,609, versus $14,327,852 last year. Revenues for the current year period included $9.5 million from the operations of the company's German and Italian subsidiaries, versus $4.0 million for the prior year 9 month comparable period.
 Commenting on the third quarter results, Edward L. Gallup, president of Immucor, Inc., noted: "Investment income decreased $286,000 when compared to the same 3 month period last year. This decline was caused by a non-recurring gain on the sale of a long term investment last year, combined with declining interest rates in the current year, which reduced interest income earned on cash reserves."
 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. Through its German and Italian subsidiaries, the company also sells blood bags for the collection, storage and administration of human blood, HLA products used primarily in human organ transplantation, DNA probes used in paternity testing and forensic medicine, and tests for certain infectious diseases.
 IMMUCOR INC.
 Statements of Income
 (Unaudited)
 Three Months Ended Nine Months Ended
 2/29/92 2/28/91 2/29/92 2/28/91
 Net sales $7,142,446 $5,910,262 $20,016,609 $14,327,852
 Cost of sales 2,922,193 2,599,413 8,184,306 6,203,061
 Gross profit 4,220,253 3,310,849 11,832,303 8,124,791
 Research and
 development 125,579 115,389 379,228 315,803
 Selling, general and
 administrative 3,015,761 2,192,116 7,955,652 5,211,692
 Total operating
 expenses 3,141,340 2,307,505 8,334,880 5,527,495
 Income from
 operations 1,078,913 1,003,344 3,497,423 2,597,296
 Other income 199,929 485,436 632,349 1,063,874
 Interest expense (203,974) (135,868) (436,973) (182,681)
 Other expense (15,655) (44,473) (21,526) (49,302)
 Total other (19,700) 305,095 173,850 831,891
 Income before income
 taxes 1,059,213 1,308,439 3,671,273 3,429,187
 Provision for
 income taxes 358,701 466,849 1,263,473 1,213,487
 Net income $700,512 $841,590 $2,407,800 $2,215,700
 Net income per
 common and common
 equivalent share $0.08 $0.10 $0.27 $0.27
 Weighted average
 number of common
 and common
 equivalent shares
 outstanding 8,989,703 8,363,145 9,074,533 8,138,882
 Balance sheet available upon request.
 -0- 4/13/92
 /CONTACT: Richard J. Still, senior vice president-finance of
 Immucor, Inc., 404-441-2051/
 (BLUD) CO: Immucor, Inc. ST: Georgia IN: MTC SU: ERN


EA-BR -- AT002 -- 7552 04/13/92 08:22 EDT
COPYRIGHT 1992 PR Newswire Association LLC
No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 1992 Gale, Cengage Learning. All rights reserved.

Article Details
Printer friendly Cite/link Email Feedback
Publication:PR Newswire
Date:Apr 13, 1992
Words:612
Previous Article:NATIONAL CITY CORPORATION REPORTS FIRST QUARTER EARNINGS
Next Article:USX CORPORATION BEGINS MAILING PROXIES TODAY


Related Articles
IMMUCOR REPORTS THIRD QUARTER RESULTS
IMMUCOR REPORTS THIRD QUARTER RESULTS
IMMUCOR REPORTS THIRD QUARTER RESULTS
IMMUCOR REPORTS THIRD QUARTER RESULTS
Immucor Reports Third Quarter Results
Immucor Revises Fiscal Third Quarter and FY2000 Analyst Expectations.
Immucor Earns $1.3 Million in Net Income for the Fiscal First Quarter; Financial Results Reflect Success of Turnaround Efforts.
Immucor Schedules Third Quarter Earnings Release and Conference Call.
Immucor Schedules Third Quarter Release and Conference Call.
Immucor Schedules Third Quarter Earnings Release and Conference Call.

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