Shares of Immucor (BLUD) were among the best-performing health-related stocks Thursday, rising 7% after the company posted better-than-expected third-quarter results.
The company, which sells reagents and systems used to identify the properties of blood prior to a transfusion, earned $11.7 million, or 25 cents a share, on revenue of $47.1 million. Analysts polled by Thomson First Call expected earnings of 23 cents a share and revenue of $47 million. During the year-earlier period, Immucor earned $6.5 million, or 14 cents a share, on revenue of $38 million. The company attributed the year-over-year sales jump to price increases.
Immucor sees fiscal 2006 earnings of $38.3 million to $40.6 million, or 81 cents to 85 cents a share. The company predicts revenue of $180 million to $183 million, while gross margin is expected to range from 65% to 66%. Analysts project earnings of 84 cents a share and revenue of $182.1 million. Immucor shares recently were up $2.14 to $30.90.
Urologix (ULGX) shares jumped 30% after the Food and Drug Administration approved the company's new CoolWave control unit, which is used in the treatment of benign prostatic hyperplasia. The medical-device maker plans to launch the product between July and September. "The new user interface and increased processing power of CoolWave allow our urologists to set customized treatments for their BPH patients, including those with small glands and symptomatic BHP, while maintaining the ease of use they are accustomed to," Urologix said. Shares were up $1 to $4.36.Shares of Aastrom Biosciences (ASTM) fell 6% after the stem-cell company said it plans to sell 15.9 million shares of stock at $1.60 apiece, raising about $25.5 million. The price represents a 10% discount to Wednesday's closing price of $1.78. The sale is expected to close during the next few days, the company said. Shares were down 11 cents to $1.67.