Immucor (BLUD) Issues Mixed FY11 Sales, EPS Guidance
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Immucor Inc. (NASDAQ: BLUD) issued guidance for the 2011 fiscal year, as results are expected to be driven by innovative instrumentation and its extensive reagent line.
The company is forecasting consolidated revenue of $345 million to $355 million in 2011, which would be an increase of 6 percent to 8 percent over the FY10 guidance range of $326 million to $330 million.
Immucor is also looking for diluted earnings in the range of $1.23 to $1.29 per share for fiscal 2011, a increase of 8 percent to 11 percent over the $1.14 to $1.16 per share guidance issued for last year.
The Street is currently looking for FY11 sales of $354.4 million and EPS of $1.26.
"We are committed to delivering on our long-term goals, on a constant currencies basis, of high single digit to low double digit revenue growth with higher diluted earnings per share growth due to the operating leverage in our business,” stated Dr. Gioacchino De Chirico, Immucor's President and Chief Executive Officer.
The revenue growth includes a boost of $10 million to $15 million from volume contributions, and $8 million to $12 million from prices.
The company that makes automated instrument-reagent systems for the blood transfusion industry sees gross margins to be in the range of 70.5 percent to 71.5 percent in 2011.
Last Friday, the company received Food and Drug Administration approval for a new version of its automated blood testing system.
Shares of Immucor are flat from today's close at $19.82.
The company is forecasting consolidated revenue of $345 million to $355 million in 2011, which would be an increase of 6 percent to 8 percent over the FY10 guidance range of $326 million to $330 million.
Immucor is also looking for diluted earnings in the range of $1.23 to $1.29 per share for fiscal 2011, a increase of 8 percent to 11 percent over the $1.14 to $1.16 per share guidance issued for last year.
The Street is currently looking for FY11 sales of $354.4 million and EPS of $1.26.
"We are committed to delivering on our long-term goals, on a constant currencies basis, of high single digit to low double digit revenue growth with higher diluted earnings per share growth due to the operating leverage in our business,” stated Dr. Gioacchino De Chirico, Immucor's President and Chief Executive Officer.
The revenue growth includes a boost of $10 million to $15 million from volume contributions, and $8 million to $12 million from prices.
The company that makes automated instrument-reagent systems for the blood transfusion industry sees gross margins to be in the range of 70.5 percent to 71.5 percent in 2011.
Last Friday, the company received Food and Drug Administration approval for a new version of its automated blood testing system.
Shares of Immucor are flat from today's close at $19.82.
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