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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