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Biotech / Medical : Immucor -- Ignore unavailable to you. Want to Upgrade?

To: Thomas Kirwin who wrote (231)	10/5/1998 5:28:00 PM
From: Mason Barge	Read Replies (2) \| Respond to of 422

Beat you to it! Immucor Reports First Quarter Results: Double Digit Growth in Revenues and Net Income NORCROSS, Ga., Oct. 5 /PRNewswire/ -- Immucor, Inc. (Nasdaq: BLUD), a leading provider of blood bank reagents and related products, today announced a 12% increase in net revenues and a 13% increase in net income for the three months ended August 31, 1998, compared to the same period last year. Revenues grew to $10,358,000 during the quarter up $1,085,000 from last year. Net income for the quarter totaled $628,000 compared to $558,000 for the same quarter last year. Earnings per share for the quarter were $.08 compared to $.07 last year. Commenting on first quarter results, Edward L. Gallup, President and CEO of Immucor, Inc. said, "We are extremely pleased with the performance of our traditional reagent business during the first quarter as we complete our transition to a reagent and instrumentation company. I am proud that we have grown sales and profits while at the same time investing in our sales, manufacturing and administrative capabilities in order to support an increase of reagent orders and new instrument placements." Mr. Gallup continued, "Since domestic instrument revenues were only $113,000 in the quarter, these investments naturally reduced first quarter profits, but were absolutely essential prior to making our first commercial placements of ABS2000s and other members of our instrumentation family. At the end of September we shipped our initial instrument orders in the United States and are very pleased by our early results." Gross profit margin improved from the fourth quarter 1998 results due to increased volumes of proprietary Capture(R) products but declined when compared to the first quarter last year due to product mix and increased national contract participation by our customers.