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Gen-Probe Reports Financial Results for the Fourth Quarter of 2011
Date:2/14/2012

SAN DIEGO, Feb. 13, 2012 /PRNewswire/ -- Gen-Probe Incorporated (NASDAQ: GPRO) today reported financial results for the fourth quarter of 2011.  Total revenues in the quarter grew 16%, to a new record of $158.2 million, while non-GAAP earnings per share (EPS) increased 18%, to a new high of $0.72.

"Gen-Probe finished 2011 strong, as blood screening sales rebounded in the fourth quarter while clinical diagnostics revenues continued their solid growth," said Carl Hull, the Company's chairman and chief executive officer.  "We enter 2012 with excellent momentum based on several new product launches that are off to good starts."Key financial results for the fourth quarter of 2011 were ($ in millions, except EPS):Non-GAAPGAAP2011

2010

Change2011

2010

ChangeTotal revenues

$158.2

$136.7

+16%$158.2

$136.7

+16%Product sales

$155.2

$131.1

+18%$155.2

$131.1

+18%Operating profit

$45.8

$40.1

+14%$29.4

$36.8

-20%Net income

$33.7

$29.4

+15%$19.9

$27.2

-27%EPS

$0.72

$0.61

+18%$0.42

$0.56

-25%Gen-Probe's GAAP results for the fourth quarter of 2011 were negatively affected by impairment charges of $12.7 million related to acquired goodwill and intangible assets.  

Revenue DetailIn the fourth quarter of 2011, clinical diagnostics product sales grew by 13% compared to the prior year period.  This increase was driven primarily by domestic and international growth of the APTIMA Combo 2® assay for detecting Chlamydia and gonorrhea, and by the inclusion of sales from the former GTI Diagnostics (GTI), which the Company acquired in December of 2010.  Foreign currency fluctuations reduced clinical diagnostics sales by an estimated $0.1 million compare
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SOURCE Gen-Probe Incorporated
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