Good financials have perked up interest is mid-cap Diagnostics companies that released results today.
Immucor (BLUD) a global leader in automated analysis of blood transfusion systems had revenue of $82.9M up 5% from prior year quarter with diluted earnings of $0.30 per share compared to $0.27 in the prior year quarter.Cash Flow from operations was $84.8M. Capture Reagent Sales were up 20% to $20.6M for the quarter.Immucor has a strong balance sheet with shareholder equity of $439M and a PEG ratio near 1.
Cepheid (CPHD) reported revenue of $49.6M compared to $41M of the same quarter last year and a reduced net loss of $.03 per share compared to $0.12 in 2009. Clinical reagent sales were up 50% to $31.6M compared to $21M in the same quarter in 2009. cash and cash equivalents were $47M with a shareholder equity of $137M. For the Year 2010 the Company forecasts Revenue in the range of $200-205M with a Net Loss of $0.21 to $0.25 per share.
Meridian Biosciences (VIVO) was also up 3% today and 11% since the low on Wednesday when earnings were released. Another diagnostic stock Neogen (NEOG) announced positive earnings Tuesday and the stock is up over 10% since then.
The American Association of Clinical Chemists is meeting in Anaheim CA next week and thees companies as well as hundreds of others will be exhibiting.Raygent will provide selective coverage of the meeting focusing on companies in the Rayno Diagnostics and Tools portfolio