Gen-Probe Reports Strong Financial Results for First Quarter 2008, Raises Full-Yea...( - Company Posts Record Quarterly EPS...)

- Company Posts Record Quarterly EPS of $0.58, 45% Above Prior Year, Based

on Positive Operating Results and One-Time Legal Benefit - - Total Revenues Increase 21% to Establish Quarterly Record of $122.6

Million, Product Sales Rise 16% to All-Time High of $101.5 Million - - For 2008, Company Now Expects EPS of $1.72 to $1.76, Total Revenues of

$450 to $455 Million -

SAN DIEGO, April 28 /PRNewswire-FirstCall/ -- Gen-Probe Incorporated (Nasdaq: GPRO) today reported strong financial results for the first quarter of 2008 and raised its full-year guidance for earnings per share (EPS) and total revenues.

"Gen-Probe posted excellent financial results in the first quarter of 2008, as new records in both clinical diagnostics and blood screening enabled us to exceed $100 million in quarterly product sales for the first time," said Henry L. Nordhoff, the Company's chairman and chief executive officer. "We also established new all-time highs for total revenue and net income, and made important progress in our PROCLEIX(R) ULTRIO(R), human papillomavirus (HPV) and prostate cancer development programs."

In the first quarter of 2008, product sales were $101.5 million, compared to $87.2 million in the prior year period, an increase of 16%. Total revenues for the first quarter of 2008 were $122.6 million, compared to $101.1 million in the prior year period, an increase of 21%. Net income was $31.9 million ($0.58 per share) in the first quarter of 2008, compared to $21.5 million ($0.40 per share) in the prior year period, an increase of 48% (45% per share). In this press release, all per share amounts are calculated on a fully diluted basis, and all results are presented on a US GAAP basis
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