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Income Rises at Immucor

The blood transfusion systems company tops first-quarter estimates.
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Immucor

(BLUD)

beat the Street's first-quarter earnings forecast by a penny, on improved revenue and price increases in the U.S.

The company, which makes blood transfusion systems, on Wednesday reported revenue of $51 million, a 20% spike over the 42.4 million in the same period last year.

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For its first quarter ended Aug. 31, Immucor earned $12.7 million, or 11 cents a share, up from $8 million, or 18 cents a share a year ago. Thomson First Call analysts were looking for a profit of 17 cents on sales of $49.1 million.

Norcross, Ga.-based Immucor said that charges related to accounting for stock-based compensation were $500,000, and that prior-period share and per-share amounts have been adjusted to reflect the 3-for-2 stock split in May.

"We remain on track to increase gross margin to over 70% by the first quarter of fiscal 2009, CEO Gioacchino De Chirico said in a statement.

Gross margin improved during the quarter to 67.7%, up from 62.9% in the year-ago quarter.

Shares of Immucor closed the regular session up 6.3% to $23.34. After hours, shares were recently off 58 cents to $22.76.