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

truments to Novartis, the Company's blood screening partner.  Although total blood screening assay revenue for the joint business increased compared to the prior year period, Gen-Probe's assay shipments to Novartis decreased by nearly $6 million, instrument shipments declined by nearly $5 million, and additional supply chain fluctuations reduced sales by approximately $3 million.

"We believe the decrease in blood screening sales resulted mainly from reductions in our partner's inventory levels and lower instrument revenues," said Hull.  "The underlying fundamentals of our blood screening business remain healthy, evidenced by the solid donation volumes, market share and profitability we experienced in the second quarter."

The percentage decline in blood screening sales in the second quarter of 2011 was magnified when compared to strong sales in the prior year period, which were more than $5 million higher than in any other quarter last year.  Finally, foreign currency fluctuations increased blood screening sales by an estimated $1.1 million compared to the prior year period.  

Sales of research products and services in the second quarter of 2011 were $2.3 million, down 28% compared to the prior year period due to continued market weakness affecting contract research organizations.  Foreign currency fluctuations increased sales of research products and services by an estimated $0.2 million compared to the prior year period.

Second quarter product sales were ($ in millions):Three Months Ended June 30,Change2011

2010As
Reported

Constant CurrencyClinical Diagnostics

$87.5

$73.9+18%

+17%Blood Screening

$43.2

$55.7-22%

-24%Research Products  and Services

$2.3

$3.2-28%

-34%Total Product Sales

$132.9

$132.7--

-2%Collaborative research revenues in the second quarter of 2011 were $1.6 million, compared to $4.1 million in
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SOURCE Gen-Probe Incorporated
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