Excluding the charges discussed above, and on a non-GAAP basis, Gen-Probe's initial expectation is that the acquisition will add approximately $0.05 to the Company's 2010 earnings per share (EPS), based on approximately $15 million in total revenues.
Cooley Godward Kronish is serving as legal counsel to Gen-Probe on this transaction. XMS Capital Partners and Leerink Swann are serving as financial advisers to Prodesse, and Michael Best & Friedrich, LLP is serving as legal counsel.
Gen-Probe Incorporated is a global leader in the development, manufacture and marketing of rapid, accurate and cost-effective nucleic acid tests (NATs) that are used primarily to diagnose human diseases and screen donated human blood. Gen-Probe has approximately 25 years of NAT expertise, and received the 2004 National Medal of Technology, America's highest honor for technological innovation, for developing NAT assays for blood screening. Gen-Probe is headquartered in San Diego and employs approximately 1,200 people. For more information, go to www.gen-probe.com.
About Non-GAAP Financial Measures
In this news release, non-GAAP EPS excludes non-cash charges such as transaction-related intangible amortization expense, as well as transaction expenses. Gen-Probe's management does not itself, nor does it suggest that investors should, consider non-GAAP financial measures in isolation from, or as a substitute for, financial information prepared and presented in accordance with GAAP. Gen-Probe's management believes that non-GAAP financial measures provide meaningful supplemental information regarding
|SOURCE Gen-Probe Incorporated|
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