18.	CONDENSED CONSOLIDATING FINANCIAL INFORMATION OF GUARANTOR SUBSIDIARIES

The Company has certain outstanding indebtedness that is guaranteed by its U.S. subsidiaries. However, the indebtedness is not guaranteed by the Company’s foreign subsidiaries or its consolidated variable interest entity. The guarantor subsidiaries are all wholly owned and the guarantees are made on a joint and several basis and are full and unconditional. Separate consolidated financial statements of the guarantor subsidiaries have not been presented because management believes that such information would not be material to investors. However, condensed consolidating financial information is presented.

Refer to Note 4 for information on assets and liabilities of Sentilus LLC, a consolidated variable interest entity, that are included in the Company’s consolidated balance sheet as of February 29, 2016. These assets and liabilities cannot be used

to settle the obligations of Immucor, and are not Immucor’s obligation to pay. Accordingly, the condensed consolidated financial information reflects the activity of Sentilus LLC under the Non-Guarantors heading.

The condensed consolidating financial information of the Company is as follows:

Balance Sheets

IMMUCOR, INC.

CONDENSED CONSOLIDATING BALANCE SHEETS

February 29, 2016

(in thousands)

(Unaudited)

	Immucor, Inc.		Guarantors			Non-Guarantors		Eliminations			Total

ASSETS

CURRENT ASSETS:
Cash and cash equivalents	$	2,680		(518	)		10,028		-			12,190
Accounts receivable, net		26,717		6,463			26,790		-			59,970
Intercompany receivable		81,485		23,737			14,788		(120,010	)		-
Inventories, net		21,779		15,917			12,086		(1,938	)		47,844
Deferred income tax assets, current portion		2,511		2,254			508		748			6,021
Prepaid expenses and other current assets		3,864		419			5,534		-			9,817
Total current assets		139,036		48,272			69,734		(121,200	)		135,842

PROPERTY AND EQUIPMENT, net		39,582		12,677			20,529		-			72,788
INVESTMENT IN SUBSIDIARIES		209,211		5,020			3,019		(217,250	)		-
GOODWILL		744,045		47,985			48,811		-			840,841
OTHER INTANGIBLE ASSETS, net		502,355		56,081			50,396		-			608,832
DEFERRED FINANCING COSTS, net		21,072		-			-		-			21,072
OTHER ASSETS		23,877		234			444		(7,250	)		17,305
Total assets	$	1,679,178		170,269			192,933		(345,700	)		1,696,680

LIABILITIES AND SHAREHOLDERS' EQUITY

CURRENT LIABILITIES:
Accounts payable	$	9,485		3,641			4,429		-			17,555
Intercompany payable		10,709		98,863			10,438		(120,010	)		-
Accrued interest and interest rate swap liability		7,764		-			-		-			7,764
Accrued expenses and other current liabilities		9,098		5,013			5,392		-			19,503
Income taxes payable		30,050		(30,092	)		3,150		-			3,108
Deferred revenue, current portion		1,540		-			1,116		-			2,656
Current portion of long term debt, net of debt discounts		8,878		-			-		-			8,878
Total current liabilities		77,524		77,425			24,525		(120,010	)		59,464

LONG TERM DEBT, net of debt discounts		1,030,478		-			-		-			1,030,478
DEFERRED INCOME TAX LIABILITIES		203,432		(194	)		16,113		-			219,351
OTHER LONG-TERM LIABILITIES		16,885		12,583			8,547		(7,250	)		30,765
Total liabilities		1,328,319		89,814			49,185		(127,260	)		1,340,058
EQUITY:
Shareholders' equity of Immucor, Inc.		350,859		80,455			137,985		(218,440	)		350,859
Noncontrolling interest		-		-			5,763		-			5,763
Total equity		350,859		80,455			143,748		(218,440	)		356,622
Total liabilities and equity	$	1,679,178		170,269			192,933		(345,700	)		1,696,680

IMMUCOR, INC.

CONDENSED CONSOLIDATING BALANCE SHEETS

May 31, 2015

(in thousands)

	Immucor, Inc.		Guarantors			Non-Guarantors		Eliminations			Total

ASSETS

CURRENT ASSETS:
Cash and cash equivalents	$	7,080		(263	)		11,546		-			18,363
Accounts receivable, net		30,442		6,014			31,218		-			67,674
Intercompany receivable		68,815		24,201			8,861		(101,877	)		-
Inventories, net		18,361		13,706			11,830		(2,050	)		41,847
Deferred income tax assets, current portion		2,512		2,253			375		791			5,931
Prepaid expenses and other current assets		5,178		426			5,557		-			11,161
Total current assets		132,388		46,337			69,387		(103,136	)		144,976

PROPERTY AND EQUIPMENT, net		38,915		13,849			20,810		-			73,574
INVESTMENT IN SUBSIDIARIES		220,412		5,021			3,019		(228,452	)		-
GOODWILL		744,149		47,640			50,469		-			842,258
OTHER INTANGIBLE ASSETS, net		557,133		59,164			33,997		-			650,294
DEFERRED FINANCING COSTS, net		26,399		-			-		-			26,399
OTHER ASSETS		14,533		310			342		-			15,185
Total assets	$	1,733,929		172,321			178,024		(331,588	)		1,752,686

LIABILITIES AND SHAREHOLDERS' EQUITY

CURRENT LIABILITIES:
Accounts payable	$	6,297		2,604			4,965		-			13,866
Intercompany payable		2,389		91,547			7,941		(101,877	)		-
Accrued interest and interest swap liability		19,288		-			-		-			19,288
Accrued expenses and other current liabilities		13,758		5,131			7,319		-			26,208
Income taxes payable		30,061		(30,074	)		3,509		-			3,496
Deferred revenue, current portion		1,498		7			1,198		-			2,703
Current portion of long-term debt, net of debt discounts		4,462		7			-		-			4,469
Total current liabilities		77,753		69,222			24,932		(101,877	)		70,030

LONG-TERM DEBT, net of debt discounts		1,033,276		-			-		-			1,033,276
DEFERRED INCOME TAX LIABILITIES		223,232		3,639			9,616		-			236,487
OTHER LONG-TERM LIABILITIES		15,987		11,908			1,317		-			29,212
Total liabilities		1,350,248		84,769			35,865		(101,877	)		1,369,005
SHAREHOLDERS' EQUITY:
Total shareholders' equity		383,681		87,552			142,159		(229,711	)		383,681
Total liabilities and shareholders' equity	$	1,733,929		172,321			178,024		(331,588	)		1,752,686

Statements of Operations for the Quarter

IMMUCOR, INC.

CONSOLIDATING STATEMENTS OF OPERATIONS

Three Months Ended February 29, 2016

(in thousands)

(Unaudited)

	Immucor, Inc.			Guarantors			Non-Guarantors			Eliminations			Total

NET SALES	$	57,913			14,370			32,288			(15,678	)		88,893
COST OF SALES (exclusive of amortization shown separately below)		20,150			8,527			21,132			(15,679	)		34,130
GROSS PROFIT		37,763			5,843			11,156			1			54,763

OPERATING EXPENSES:
Research and development		2,970			3,785			408			(253	)		6,910
Selling and marketing		5,745			2,242			5,264						13,251
Distribution		2,288			333			1,534						4,155
General and administrative		8,588			1,289			1,929			(27	)		11,779
Amortization expense		11,972			1,082			521						13,575
Total operating expenses		31,563			8,731			9,656			(280	)		49,670

INCOME (LOSS) FROM OPERATIONS		6,200			(2,888	)		1,500			281			5,093

NON-OPERATING (EXPENSE) INCOME:
Interest income		105						54			(111	)		48
Interest expense		(22,253	)		(118	)		(69	)		111			(22,329	)
Other, net		4,086			92			(4,215	)		(280	)		(317	)
Total non-operating expense		(18,062	)		(26	)		(4,230	)		(280	)		(22,598	)

(LOSS) INCOME BEFORE INCOME TAXES		(11,862	)		(2,914	)		(2,730	)		1			(17,505	)
(BENEFIT) PROVISION FOR INCOME TAXES		(7,727	)		(1,045	)		(73	)					(8,845	)
NET (LOSS) INCOME BEFORE EARNINGS OF CONSOLIDATED SUBSIDIARIES		(4,135	)		(1,869	)		(2,657	)		1			(8,660	)
Net Income (Loss) of consolidated subsidiaries		(4,288	)								4,288			-
NET (LOSS) INCOME		(8,423	)		(1,869	)		(2,657	)		4,289			(8,660	)
Net loss attributable to noncontrolling interest								(237	)					(237	)
NET LOSS ATTRIBUTABLE TO IMMUCOR, INC.	$	(8,423	)		(1,869	)		(2,420	)		4,289			(8,423	)

IMMUCOR, INC.

CONSOLIDATING STATEMENTS OF OPERATIONS

Three Months Ended February 28, 2015

(in thousands)

(Unaudited)

	Immucor, Inc.			Guarantors			Non-Guarantors			Eliminations			Total

NET SALES	$	63,013			14,119			37,015			(18,542	)		95,605
COST OF SALES (exclusive of amortization shown separately below)		18,743			9,410			24,360			(18,542	)		33,971
GROSS PROFIT		44,270			4,709			12,655			-			61,634

OPERATING EXPENSES:
Research and development		3,087			4,019			174			-			7,280
Selling and marketing		5,973			2,431			5,109			-			13,513
Distribution		2,772			450			1,764			-			4,986
General and administrative		6,056			963			2,343			-			9,362
Amortization expense		11,973			1,079			563			-			13,615
Total operating expenses		29,861			8,942			9,953			-			48,756

INCOME (LOSS) FROM OPERATIONS		14,409			(4,233	)		2,702			-			12,878

NON-OPERATING (EXPENSE) INCOME:
Interest income		23			-			44			(25	)		42
Interest expense		(21,664	)		(136	)		(18	)		25			(21,793	)
Other, net		173			(349	)		353			-			177
Total non-operating (expense) income		(21,468	)		(485	)		379			-			(21,574	)

(LOSS) INCOME BEFORE INCOME TAXES		(7,059	)		(4,718	)		3,081			-			(8,696	)
PROVISION (BENEFIT) FOR INCOME TAXES		31,448			(1,560	)		856			-			30,744
NET (LOSS) INCOME BEFORE EARNINGS OF CONSOLIDATED SUBSIDIARIES		(38,507	)		(3,158	)		2,225			-			(39,440	)
Net (loss) income of consolidated subsidiaries		(933	)		-			-			933			-
NET (LOSS) INCOME	$	(39,440	)		(3,158	)		2,225			933			(39,440	)

Statements of Operations for the

Nine

Month periods

IMMUCOR, INC.

CONSOLIDATING STATEMENTS OF OPERATIONS

Nine Months Ended February 29, 2016

(in thousands)

(Unaudited)

	Immucor, Inc.			Guarantors			Non-Guarantors			Eliminations			Total

NET SALES	$	185,196			43,423			102,718			(49,483	)		281,854
COST OF SALES (exclusive of amortization shown separately below)		62,491			26,605			67,047			(49,483	)		106,660
GROSS PROFIT		122,705			16,818			35,671			-			175,194

OPERATING EXPENSES:
Research and development		8,919			11,088			746			(253	)		20,500
Selling and marketing		18,820			7,745			15,492			-			42,057
Distribution		7,224			1,056			4,689			-			12,969
General and administrative		22,683			4,117			6,360			(27	)		33,133
Amortization expense		35,916			3,238			1,591			-			40,745
Total operating expenses		93,562			27,244			28,878			(280	)		149,404

INCOME (LOSS) FROM OPERATIONS		29,143			(10,426	)		6,793			280			25,790

NON-OPERATING (EXPENSE) INCOME:
Interest income		183			-			114			(165	)		132
Interest expense		(66,997	)		(350	)		(93	)		165			(67,275	)
Other, net		5,046			(154	)		(4,978	)		(280	)		(366	)
Total non-operating expense		(61,768	)		(504	)		(4,957	)		(280	)		(67,509	)

(LOSS) INCOME BEFORE INCOME TAXES		(32,625	)		(10,930	)		1,836			-			(41,719	)
(BENEFIT) PROVISION FOR INCOME TAXES		(11,612	)		(3,833	)		1,399						(14,046	)
NET (LOSS) INCOME BEFORE EARNINGS OF CONSOLIDATED SUBSIDIARIES		(21,013	)		(7,097	)		437			-			(27,673	)
Net Income (Loss) of consolidated subsidiaries		(6,423	)								6,423			-
NET (LOSS) INCOME		(27,436	)		(7,097	)		437			6,423			(27,673	)
Net loss attributable to noncontrolling interest					-			(237	)					(237	)
NET LOSS ATTRIBUTABLE TO IMMUCOR, INC.	$	(27,436	)		(7,097	)		674			6,423			(27,436	)

IMMUCOR, INC.

CONSOLIDATING STATEMENTS OF OPERATIONS

Nine Months Ended February 28, 2015

(in thousands)

(Unaudited)

	Immucor, Inc.			Guarantors			Non-Guarantors			Eliminations			Total

NET SALES	$	190,662			42,175			116,637			(55,151	)		294,323
COST OF SALES (exclusive of amortization shown separately below)		59,702			27,403			74,617			(55,151	)		106,571
GROSS PROFIT		130,960			14,772			42,020			-			187,752

OPERATING EXPENSES:
Research and development		8,484			12,385			605			-			21,474
Selling and marketing		18,807			7,624			17,511			-			43,942
Distribution		8,167			1,239			5,936			-			15,342
General and administrative		20,345			3,231			7,367			-			30,943
Amortization expense		35,915			3,232			1,801			-			40,948
Total operating expenses		91,718			27,711			33,220			-			152,649

INCOME (LOSS) FROM OPERATIONS		39,242			(12,939	)		8,800			-			35,103

NON-OPERATING (EXPENSE) INCOME:
Interest income		41			-			167			(77	)		131
Interest expense		(66,553	)		(383	)		(54	)		77			(66,913	)
Other, net		587			(436	)		314			-			465
Total non-operating (expense) income		(65,925	)		(819	)		427			-			(66,317	)

(LOSS) INCOME BEFORE INCOME TAXES		(26,683	)		(13,758	)		9,227			-			(31,214	)
PROVISION (BENEFIT) FOR INCOME TAXES		25,044			(5,035	)		2,774			-			22,783
NET (LOSS) INCOME BEFORE EARNINGS OF CONSOLIDATED SUBSIDIARIES		(51,727	)		(8,723	)		6,453			-			(53,997	)
Net (Loss) income of consolidated subsidiaries		(2,270	)		-			-			2,270			-
NET (LOSS) INCOME	$	(53,997	)		(8,723	)		6,453			2,270			(53,997	)

Statements of Cash Flows for the

Nine

Month periods

IMMUCOR, INC.

CONDENSED CONSOLIDATING CASH FLOW INFORMATION

Nine Months Ended February 29, 2016

(in thousands)

(Unaudited)

	Immucor, Inc.			Guarantors			Non-Guarantors			Eliminations			Total

Net cash provided by (used in) operating activities	$	10,666			1,423			(1,600	)		(3,648	)		6,841
Net cash provided by (used in) investing activities		(8,860	)		(1,671	)		3,890			(6,009	)		(12,650	)
Net cash provided by (used in) financing activities		(6,475	)		(7	)		(3,517	)		9,517			(482	)
Effect of exchange rate changes on cash and cash equivalents		269			-			(291	)		140			118
Decrease in cash and cash equivalents		(4,400	)		(255	)		(1,518	)		-			(6,173	)
Cash and cash equivalents at beginning of period		7,080			(263	)		11,546			-			18,363
Cash and cash equivalents at end of period	$	2,680			(518	)		10,028			-			12,190

IMMUCOR, INC. AND SUBSIDIARIES

CONDENSED CONSOLIDATING CASH FLOW INFORMATION

Nine Months Ended February 28, 2015

(in thousands)

(Unaudited)

	Immucor, Inc.			Guarantors			Non-Guarantors			Eliminations			Total

Net cash provided by (used in) operating activities	$	304			1,486			1,447			(445	)		2,792
Net cash used in investing activities		(10,188	)		(1,582	)		(7,445	)		-			(19,215	)
Net cash provided by (used in) financing activities		8,025			(18	)		(324	)		324			8,007
Effect of exchange rate changes on cash and cash equivalents		(1,338	)		-			(2,497	)		121			(3,714	)
Decrease in cash and cash equivalents		(3,197	)		(114	)		(8,819	)		-			(12,130	)
Cash and cash equivalents at beginning of period		4,863			(409	)		19,167			-			23,621
Cash and cash equivalents at end of period	$	1,666			(523	)		10,348			-			11,491