, a clinical diagnostic and blood screening products maker, said its first-quarter earnings rose 7.4% from a year-ago period, on increased product sales in its clinical diagnostics and blood-screening business.
The San Diego-based company earned $14.5 million, or 27 cents a share, in the quarter, compared with $13.5 million, or 26 cents a share, a year ago. Adjusted for stock options expense, earnings were $17.5 million, or 33 cents a share, in the most recent quarter. Analysts polled by Thomson First Call were expecting earnings of $11.5 million, or 21 cents a share.
First-quarter revenue rose 25.4% from a year ago period to $86.3 million as against analysts' expectation of $79.2 million.
The company raised its earnings guidance and expects to earn 98 cents a share to $1.08 a share in the full year compared with its February forecast of 95 cents a share to $1.05 a share. Adjusted earnings are expected to be $1.30 a share to $1.35 a share this year. Revenue for the full year is expected to be $335 million to $340 million compared with its earlier guidance of $325 million to $335 million. Analysts are expecting earnings of $1.02 a share on revenue of $335 million in the full year.
"Both our clinical diagnostics and blood screening businesses grew solidly in the first quarter, driven by continued strength across our major product lines," the company said.
First-quarter operating income rose 6.5% from a year-ago period to $21.3 million, but operating margin declined 439 basis points to 24.7%.
Revenue in the company's clinical diagnostics division was up 17.5% from a year-ago period to $40.2 million and revenue from blood screen sector jumped 51.2% to $38.4 million.
Gen-Probe rose $3 to $55.08.
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