Digene's Earnings Jump

Revenue for the latest quarter is up 38% to $46.1 million.
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Digene

(DIGE)

, a maker of gene-based diagnostic tests, saw record quarterly earnings thanks to an increase in sales of its test to detect human papillomavirus, a disease linked to ovarian cancer.

The company earned $5.1 million, or 22 cents a share, in the fiscal 2007 first quarter, compared with $1.3 million, or 6 cents a share, a year ago. Excluding a $2.1 million charge for stock-based compensation expenses and tax-related adjustments, Digene earned $6.6 million, or 28 cents a share.

Revenue for the quarter was up 38% to $46.1 million, with worldwide HPV test revenue up 47% to $41.6 million. In the U.S., HPV test revenue reached $35.7 million, up from $23.4 a year ago.

"With rapidly growing revenues, significant profitability and $157 million in cash, cash equivalents and short-term investments, Digene is in the strongest position in our history," said Chairman and CEO Evan Jones. "This foundation enables the company to continue to build on our position as a pioneer in women's health diagnostics."

The company says it expects approximately $197 million in revenue for the full year and earnings of $1.06 a share, excluding certain charges.

Shares were up 2% to $46.63 Friday.