Gen-Probe Reports Financial Results for Second Qu...(primarily from a non-recurring charge in...),Health

Date:7/30/2009

primarily from a non-recurring charge in the prior year period, namely a $3.5 million write-off of previously capitalized expenses associated with intellectual property acquired in 2005 from Corixa. For the first six months of 2009, R&D expenses were $51.1 million, compared to $52.4 million in the prior year period, a decrease of 2%. R&D expenses are expected to increase significantly in the third quarter of 2009, to approximately $30 million, based on clinical trials of the Company's HPV, PCA3 and trichomonas assays.

Marketing and sales expenses in the second quarter of 2009 were $14.0 million, compared to $11.5 million in the prior year period, an increase of 22% that resulted primarily from the addition of Tepnel's cost structure, and European sales force expansion and market development efforts. For the first six months of 2009, marketing and sales expenses were $25.1 million, compared to $23.4 million in the prior year period, an increase of 7%.

General and administrative (G&A) expenses in the second quarter of 2009 were $14.6 million on a non-GAAP basis that excludes $3.2 million of acquisition-related expense, compared to $13.7 million in the prior year period, an increase of 7% that resulted primarily from the addition of Tepnel's cost structure. For the first six months of 2009, G&A expenses were $26.9 million on a non-GAAP basis that excludes $4.8 million of acquisition-related expense, compared to $25.6 million in the prior year period, an increase of 5%. On a GAAP basis, G&A expenses were $17.8 million in the second quarter of 2009, up 30% compared to the prior year period, and $31.7 million for the first six months of the year, up 24% compared to the prior year period.

Total other income in the second quarter of 2009 was $8.5 million, compared to $3.7 million in the prior year period, an increase of 130% that resulted primarily from the Company's previously communicat
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SOURCE Gen-Probe Incorporated Copyright©2009 PR Newswire. All rights reserved

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