NORCROSS, Ga., Aug. 18 /PRNewswire-FirstCall/ -- Immucor, Inc. (Nasdaq: BLUD), a global leader in providing automated instrument-reagent systems to the blood transfusion industry, today announced that its board of directors has authorized an additional 2 million common shares for repurchase under its current stock repurchase program.
Including the new authorization, the Company has a total of 2.6 million shares available for repurchase. To date in its first fiscal quarter of 2010, the Company has repurchased approximately 279,000 shares for a total of $4.7 million.
"Share repurchase is a good use of our free cash flow," stated Dr. Gioacchino De Chirico, Immucor's President and Chief Executive Officer. "We believe in the long-term potential of Immucor and remain committed to actions that deliver value to our shareholders."
Purchases under the Company's stock repurchase program may be made from time to time as market conditions warrant and subject to regulatory considerations. The program may be discontinued at any time. The Company plans to fund the program from cash on hand.
About Immucor
Founded in 1982, Immucor manufactures and sells a complete line of reagents and systems used by hospitals, reference laboratories and donor centers to detect and identify certain properties of the cell and serum components of blood prior to transfusion. Immucor markets a complete family of automated instrumentation for all of its market segments. For more information on Immucor, please visit our website at www.immucor.com.
Statements contained in this press release that are not statements of historical fact are "forward-looking statements" as that term is defined under federal securities laws, including, without limitation, all statements concerning Immucor's expectations, beliefs, intentions or strategies for the future. Forward-looking statements may be identified by words such as "plans," "expects," "believes," "anticipates," "estimates," "projects," "may," "will," "could", "should" and other words of similar meaning. Investors are cautioned not to place undue reliance on any forward-looking statements, and Immucor assumes no obligation to update any forward-looking statements. Immucor urges investors to consider the risks detailed in the Company's filings with the Securities and Exchange Commission.
SOURCE Immucor, Inc.
