Immucor Jumps After Earnings (BLUD)

Immucor BLUD released its Q3 earnings results after the closing bell on Wednesday. The company reported net income of $22.7 million, or $0.32 per share, compared to $20.1 million, or $0.28 per share, in last year's fourth quarter. This came in ahead of Street EPS consensus of $0.27. Revenues increased 4% to $83.35 million compared to $80.50 million in the year ago period. This also beat analysts' consensus estimates of $79.73 million. Gross margins in Q3 improved to 70.8% from 69.2% in last year's third quarter. Looking ahead, BLUD sees fiscal 2011 revenue in a range between $328 million and $330 million. This compares to its previous guidance of $320 million to $332 million. On the earnings front, the company raised its fiscal 2011 earnings outlook to a range of $1.18 to $1.20 per share from its previous outlook of $1.08 to $1.18 per share. Wall Street analysts are currently projecting that BLUD will earn $1.14 per share on revenue of $327.36 million in fiscal 2011. In late trading, BLUD shares have risen 7.56% to $21.49.