Better Prices Buoy Immucor

Fourth-quarter revenue rises nearly 40% from a year ago.

Author:: TSC Staff
Publish date:: Aug 3, 2005 11:51 AM EDT

Immucor

(BLUD)

said price increases helped fourth-quarter revenue rise nearly 40% from a year ago, and the company provided a forecast for the upcoming fiscal year that falls in the range of Wall Street's estimates.

Revenue for the fiscal fourth quarter was $42.1 million, up 39.2% from $30.2 million in the same period last year. Of the total increase, about $9.8 million came from higher prices.

Net income for the quarter totaled $9.2 million, or 19 cents a share, vs. a profit of $3.4 million, or 7 cents a share, last year.

Immucor, which sells reagents and systems used to identify the properties of blood prior to a transfusion, said it expects revenue for the fiscal year ending May 31, 2006, of $190 million to $204 million, with earnings of 95 cents to $1.05.

Shares of Immucor, of Norcross, Ga., were up 7% to $29.20.

Analysts surveyed by Thomson First Call expected a profit of 20 cents a share with revenue of $43.4 million in the quarter. The consensus estimates for the 2006 fiscal year are earnings of $1.01 and revenue of $195.5 million.