To discuss company's current business and future growth strategies

Gen-Probe Inc. announced unaudited consolidated earnings results for the third quarter and nine months ended September 30, 2009. The company reported total revenues for the third quarter of 2009 were $122.7 million, compared to $121.2 million in the prior year period, an increase of 1%. Net income was $23.8 million or $0.47 per share on a non-GAAP basis in the third quarter of 2009, compared to $29.1 million or $0.52 per share in the prior year period, a decrease of 18% and 10% per share. Including $1.6 million of after-tax expenses or $0.03 per share related to the company's acquisitions of Tepnel and Prodesse and the industrial spin-off, net income in the third quarter of 2009 was $22.2 million or $0.44 diluted per share on a GAAP basis compared to GAAP net income of $29.08 million or $0.52 diluted per share for the same period last year. The company reported income from operations of $29.04 million and income before income tax of $33.3 million compared to income from operations of $42.4 million and income before income tax of $44.6 million for the same period last year. In the third quarter of 2009, the company generated net cash of $31.9 million from its operating activities, substantially higher than GAAP net income of $22.2 million. The company spent $7.6 million on property, plant and equipment in the quarter. On non-GAAP basis, the company reported income from operations of $31.34 million and income before income tax of $35.6 million. For the first nine months of 2009, total revenues were $359.4 million, compared to $363.6 million in the prior year period, a decrease of 1%. Net income was $74.0 million or $1.43 per share on a non-GAAP basis in the first nine months of 2009, compared to $85.8 million or $1.55 per share in the prior year period, a decrease of 14% and 8% per share. The company reported net income of $67.8 million or $1.31 diluted per share compared to net income of $85.8 million or $1.55 diluted per share for the same period last year. The company reported income from operations of $85.2 million and income before income tax of $102.6 million compared to income from operations of $118.2 million and income before income tax of $129.8 million for the same period last year. On non-GAAP basis, the company reported income from operations of $93.6 million and income before income tax of $110.9 million. The company reported net cash provided by operating activities of $106.7 million, purchase of marketable securities of $339 million, purchase of property and plant and equipment of $22.3 million compared to net cash provided by operating activities of $159 million, purchase of marketable securities of $225.3 million and purchase of property, plant and equipment of $30.5 million for the same period last year. For the full year 2009, the company expects non-GAAP earnings per share with in a range of $1.90 to $1.93 and GAAP earnings per share with in a range of $1.77 to $1.79 on the total revenue of $493 to $500 million compared to non-GAAP earnings per share with in a range of $1.85 to 1.95 and GAAP earnings per share with in a range of $1.73 to $1.85 on the total revenue of $490 to $503 million of the previous guidance.

Gen-Probe Inc. announced the Food and Drug Administration granted emergency approval to its diagnostic test for the 2009 swine flu. The company said the FDA approved its Prodesse ProFlu-ST test, which Gen-Probe says can diagnose swine flu in as little as three hours, while tests using throat cultures can take weeks. The FDA decision does mean not full marketing approval and lasts only for the duration of the declared public health emergency related to swine flu. The emergency is set to expire on April 26, 2010.