NORCROSS, Ga. – Blood-testing equipment maker Immucor Inc. said Monday its profit edged 1 percent higher in the fiscal third quarter, as its sales increased but profit margins became thinner.
In the three months, ended Feb. 28, Immucor said its net income grew to $19.5 million from $19.3 million a year ago. On a per-share basis, its profit was unchanged at 27 cents per share. Revenue grew 12 percent, to $75.3 million from $67 million.
Analysts expected a profit of 22 cents per share and $73.2 million in revenue, according to Thomson Reuters.
Immucor reported steady demand for reagents during the quarter. Its gross margin slipped to 71.4 percent from 72.1 percent a year ago, primarily because the company spent $5.2 million to buy molecular diagnostics maker BioArray, and began selling products directly to users in France and the U.K.
Immucor said it expects its fiscal 2009 profit to be at the high end, or slightly above, its previously forecast range of 97 cents to $1.02 per share. It reiterated its revenue estimate of $292 million to $300 million.
Analysts expect a profit of 99 cents per share and $297 million in revenue for the 12 months ending May 31.
In aftermarket trading, Immucor shares rose $1.26, or 5.2 percent, to $25.32. The stock closed at $24.06 during the day session.
