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Immucor CEO Discusses F2Q2011 Results – Earnings Call Transcript

Our competitive takeaway rate for NEO in the quarter was roughly 35% and approximately 15% of the orders were capital sales. In our release last night, we reiterate our new order guidance. We continue to expect to receive between 80 and 120 orders for NEO in fiscal 2011. We continue to expect approximately 20% of the orders will be competitive wins and approximately one-third of the orders will be capital sales.

Turning to Echo, we had 29 Echo orders in the quarter, with 16 orders in the US and Canada and 13 orders in the rest of the world, including distributors. Our Echo orders have been nowhere in the past several quarters because of the economy and more complicated selling process in the US market that I discussed earlier.

Echo was specifically designed to meet the needs of low volume labs, and despite its great success in the three years since its launch, we believe there is still a lot of opportunity for Echo given both the large number of manual customer in the US and the superior functionality of Echo compared with the competitive instrumentation.

As I said earlier, we continue to expect our Echo order rates to pick up in the second half of fiscal 2011 and we continue to expect to receive between 140 and 180 orders for Echo in fiscal 2011. At the end of the second quarter, we had instrument order and backlog of 106 Echo and a combination of 51 of Galileo and NEOs.

Read the rest of this transcript for free on seekingalpha.com

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