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

future assay sales.

Acquisition-related amortization expenses were $2.8 million in the fourth quarter of 2011, compared to $2.2 million in the prior year period, an increase of 27% that resulted mainly from the acquisition of GTI.

Research and development (R&D) expenses were $28.2 million in the fourth quarter of 2011, compared to $26.9 million in the prior year period, an increase of 5% that resulted primarily from the addition of GTI's R&D programs.  

Marketing and sales expenses were $17.1 million in the fourth quarter of 2011, compared to $15.0 million in the prior year period, an increase of 14% that resulted primarily from the addition of GTI's cost structure and ongoing European commercial expansion.  

General and administrative (G&A) expenses were $16.2 million in the fourth quarter of 2011, compared to $15.6 million in the prior year period, an increase of 4% that resulted mainly from the addition of GTI's cost structure.Goodwill and asset impairment charges totaled $12.7 million in the fourth quarter of 2011.  Of this charge, $8.7 million related to goodwill associated with the Company's research products and services business, which was acquired as part of the Tepnel acquisition in April of 2009, and $4.0 million related to in-process research and development intangible assets of GTI.

Total other income, net, was $0.4 million in the fourth quarter of 2011, compared to total other income, net, of $1.2 million in the prior year period, a decrease of 67%.  This decrease resulted primarily from a non-cash gain in the prior year period and unfavorable exchange rate effects.

Income tax expense was $10.0 million in the fourth quarter of 2011, corresponding to an effective tax rate of 33%.

Non-GAAP Income Statement DetailsIn the fourth quarter of 2011, non-GAAP gross margin on product sales, R&D expenses, marketing and sales expenses, and total other income, net, were simila
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SOURCE Gen-Probe Incorporated
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