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Gen-Probe

Gen-Probe Earnings Increase 90%

02/12/2004 How Gen-Probe has done for us: +200.6% (+175.4% annualized) in the 13 months since our buy signal. Today Gen-Probe announced their latest quarterly results and revealed that earnings are 90% higher than the prior year period. Details follow in this excerpt from the company's press release:

SAN DIEGO, Feb. 12 /PRNewswire-FirstCall/ -- Gen-Probe Incorporated (Nasdaq: GPRO) today reported strong financial results for the fourth quarter and year ended December 31, 2003. Total revenues for the fourth quarter of 2003 were $58.1 million, compared to $44.2 million for the fourth quarter of 2002, an increase of 31%. Product sales for the fourth quarter of 2003 were $50.8 million, compared to $42.3 million for the fourth quarter of 2002, an increase of 20%. Net income for the fourth quarter was $9.7 million ($0.19 per diluted share), compared to net income of $5.0 million ($0.10 per diluted share), in the fourth quarter of 2002, an increase of 90% per diluted share.

For the full year 2003, the Company's total revenues were $207.2 million, compared to $155.6 million in 2002, an increase of 33%. Product sales in 2003 were $188.6 million, compared to $139.9 million in 2002, an increase of 35%. Net income for 2003 was $35.3 million ($0.72 per diluted share), compared to net income of $13.0 million ($0.27 per diluted share) in 2002, an increase of 167% per diluted share.

About Gen-Probe

Gen-Probe Incorporated is a global leader in the development, manufacture and marketing of rapid, accurate and cost-effective nucleic acid testing products used for the clinical diagnosis of human diseases and for screening donated human blood. Using its patented NAT technology, Gen-Probe has received FDA approvals or clearances for more than 60 products that detect a wide variety of infectious microorganisms, including those causing sexually transmitted diseases, tuberculosis, strep throat, pneumonia and fungal infections. Additionally, the Company developed and manufactures the only FDA-approved blood screening assay for the simultaneous detection of HIV-1 and HCV, which is marketed by Chiron Corporation. Gen-Probe has 20 years of nucleic acid detection research and product development experience, and its products are used daily in clinical laboratories and blood collection centers throughout the world. Gen-Probe is headquartered in San Diego, California and has more than 700 employees. Additional information about the Company can be found at www.gen-probe.com.

For further information, please contact Michael Watts, Sr. director, investor relations and corporate communications of Gen-Probe Incorporated, +1-858-410-8673.

The full press release can be found at
www.gen-probe.com.

SOURCE: Gen-Probe Inc.

 




 

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