Immucor CEO Comments On Stock Activity
DOW JONES NEWSWIRES
NORCROSS, Ga. -- Immucor Inc.'s (BLUD) chief executive, Edward L. Gallup, said the company isn't aware of any reason why its stock price was down more than 11% in heavy trading Thursday. In a press release, Gallup said the company hasn't changed its recent guidance for the current quarter or for 2003.
In July, Immucor said it expected 2003 earnings of $13 million to $13.5 million, or $1.32 to $1.38 a share, on
revenue of $94 million to $96 million. In fiscal 2002, the company earned $8.8 million, or $1.15 a diluted share, on sales of $84.1 million.
For the first quarter, Immucor expects to earn 27 cents to 29 cents a share, compared to 17 cents a year earlier. Shares of Immucor recently traded at $23.20, down $2.92, or 11.2%, on Nasdaq market composite volume of 854,700 shares. Average daily volume is 246,670 shares.
-Kara Wetzel, Dow Jones Newswires, 201-938-5388.
As reported Wednesday, three Immucor executives, including Chief Financial Officer Steven Ramsey, sold company stock in July.
Ramsey exercised options for 24,570 shares and sold the stock from July 19 to July 31. He told Dow Jones
Newswires he needed the cash for a real estate investment. He held 5,000 shares at the end of the month with options to acquire 20,570 more. Two other officers sold a total of 17,000 shares in July.
Shares of Immucor continued to trade heavily Thursday, recently changing hands at $23.25, down $2.87, or 11%, on volume of 1.0 million shares. |
