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Gen-Probe Reports Financial Results for the Second Quarter of 2011
Date:7/28/2011

SAN DIEGO, July 28, 2011 /PRNewswire/ -- Gen-Probe Incorporated (NASDAQ: GPRO) today reported financial results for the second quarter of 2011, with total revenues of $135.9 million and non-GAAP earnings per share (EPS) of $0.51.  

"Gen-Probe posted record sales of APTIMA women's health products in the second quarter of 2011, while supply chain fluctuations caused blood screening revenue to decline compared to strong sales a year ago," said Carl Hull, the Company's president and chief executive officer.  "In addition, we are off to a good start with the first of several new product launches in the United States, and with our PANTHER® introduction in Europe."

Key financial results for the second quarter of 2011 were ($ in millions, except EPS):Non-GAAPGAAP2011

2010

Change2011

2010

ChangeProduct sales

$132.9

$132.7

--$132.9

$132.7

--Total revenues

$135.9

$138.6

-2%$135.9

$138.6

-2%Operating profit

$34.1

$37.2

-8%$29.8

$34.2

-13%Net income

$25.3

$26.0

-3%$22.3

$28.1

-21%EPS

$0.51

$0.52

-2%$0.45

$0.57

-21%Revenue DetailIn the second quarter of 2011, clinical diagnostics product sales grew by 18% 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 GTI product sales, which were not part of Gen-Probe in the prior year period.  Foreign currency fluctuations increased clinical diagnostics sales by an estimated $1.3 million compared to the prior year period.

In blood screening, sales declined compared to the second quarter of 2010, as expected, due to lower shipments of assays and ins
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SOURCE Gen-Probe Incorporated
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