NEW YORK ( TheStreet) -- Shares of Immucor (BLUD) surged in extended trading after the Norcross, Ga.-based provider of blood transfusion reagents and systems topped Wall Street expectations for its second-quarter results.
The company said it earned $21.1 million, or 30 cents a share, in its fiscal second quarter ended Nov. 30, up from a year-ago profit of $19.7 million, or 28 cents a share, and 3 cents ahead of the average estimate of analysts polled by
Thomson Reuters. Revenue totaled $81.6 million for the November quarter, also topping Wall Street's consensus estimate of $80 million.
The stock was last quoted at $20.40, up 5.6%, on volume of around 26,000, according to Nasdaq.com. Based on a regular session close at $19.31, the shares are down more than 5% in the past 52 weeks.
Immucor enjoyed an increase in gross margin in the latest quarter to 71.6% from 70.4% in the same period a year earlier but took a measured view of its performance and expressed some caution about the business environment."On the whole, our second quarter performance was in line with our expectations," said Gioacchino De Chirico, the president and CEO, in a statement. "We continue to see weakness in the U.S. market due to the macroeconomic environment, which is impacting both our reagent revenue and instrument orders." For fiscal 2011, Immucor said it expects earnings of $1.08 to $1.18 a share on revenue ranging from $320 million to $332 million. The current analyst view is for a profit of $1.13 a share on revenue of $326.2 million for the year ending in May.