Biosite Rose 38% Last Week

Protein-based diagnostic test maker

Biosite

(BSTE)

soared more than 38% for the week after the company beat analysts' first-quarter estimates and raised its revenue forecast for the year. The company saw first-quarter net income of $1.6 million, or 11 cents a share, up from $1.5 million, or 10 cents a share, a year ago. Excluding charges, the company posted EPS of 16 cents, 4 cents above the consensus estimate. Revenue for the quarter grew to $18.6 million from $15.2 million a year ago, and the company said it sees that trend continuing for the year. Biosite now expects growth of 35%, ahead of previous estimates of 20% growth. Several analysts also upgraded the stock on the strength of its report and outlook.