Millipore Q1 2010 Earnings Call Transcript
Also note that the following information is related to current business conditions and our outlook as of today, May 6, 2010. Consistent with our prior practice, we do not intend to update our projections based on new information, future events or other reasons prior to the release of our second quarter 2010 financial results.
On today's call, we will provide details of our current business performance and market trends. However, due to our pending transaction with Merck, we will not hold a formal Q&A session and will conclude the call at the end of our formal remarks. Now, I'd like to turn the call over to Martin Madaus.
Thanks, Joshua, and good evening, everyone. And thank you for joining us on the call today. Q1 was an outstanding quarter for Millipore. We started 2010 right where we left off in 2009, delivering exceptional financial performance, outperforming many of our peers who faced easier year-over-year comparisons. We posted record quality sales and non-GAAP earnings per share in Q1. While continuing to improve our balance sheet, we generate attractive cash flow.Our execution is strong as it has ever been and we're launching innovative products that are taking market share from competitors, from our billing capabilities that are strengthening organization. So we're on track for a great 2010. The key takeaways for Q1 are the following: Our growth is strong and well-balanced between both our Bioprocess, Bioscience divisions. Each division generated impressive double-digit growth in the Americas and Asia, and saw strong underlying demand among our core businesses. Second, we're seeing a significant contribution to our revenue growth from new products. So we have implemented a number of initiatives to accelerate our innovations and we have increased the number of innovative products that we launch in each year. So I'm really happy to report that these products are actually making an impact penetrating the market and driving higher growth.
Select the service that is right for you!COMPARE ALL SERVICES
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Upgrade/downgrade alerts
- Diversified model portfolio of dividend stocks
- Alerts when market news affect the portfolio
- Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
- Real Money + Doug Kass Plus 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV