Gen-Probe Reports Strong Financial Results for Third Quarter 2008, Raises Full-Year EP...( - Company Reports Quarterly EPS of...),Health

- Company Reports Quarterly EPS of $0.53, Up 71% Versus Prior Year, As

Total Revenues Rise 19% to $121.2 Million - - Company Generates $67.3 Million of Cash from Operating Activities in

Third Quarter -

- Company Now Expects Full-Year EPS of $1.91 to $1.93 -

SAN DIEGO, Oct. 30 /PRNewswire-FirstCall/ -- Gen-Probe Incorporated (Nasdaq: GPRO) today reported strong financial results for the third quarter of 2008 and raised its full-year guidance for earnings per share (EPS).

"Gen-Probe posted very good financial results in the third quarter of 2008, driven by solid growth in both our clinical diagnostics and blood screening businesses and substantially improved gross margins," said Henry L. Nordhoff, the Company's chairman and chief executive officer.

In the third quarter of 2008, product sales were $108.3 million, compared to $97.4 million in the prior year period, an increase of 11%. Total revenues for the third quarter of 2008 were $121.2 million, compared to $101.7 million in the prior year period, an increase of 19%. Net income was $29.1 million ($0.53 per share) in the third quarter of 2008, compared to $17.3 million ($0.31 per share) in the prior year period, an increase of 68% (71% per share).

For the first nine months of 2008, product sales were $323.5 million, compared to $278.5 million in the prior year period, an increase of 16%. Total revenues for the first nine months of 2008 were $363.6 million, compared to $304.1 million in the prior year period, an increase of 20%. Net income was $85.8 million ($1.56 per share) in the first nine months of 2008, compared to $65.7 million ($1.21 per share) in the prior year period, an increase of 31% (29%
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