Gen-Probe Inc. reported financial results for the first quarter of 2010, highlighted by $135.4 million of total revenues and earnings per share (EPS) of $0.48 on both a non-GAAP and GAAP basis.

In the prior year period, Gen-Probe's financial results benefited from $8.2 million of non-recurring revenue and pre-tax income associated with the renegotiation of the company's blood screening collaboration with Novartis. Excluding this benefit, non-GAAP total revenues and EPS would have increased by 25% and 17%, respectively, in the first quarter of 2010.

Clinical diagnostics sales growth in the first quarter of 2010 was driven by transplant diagnostics and influenza products, which were not part of Gen-Probe in the prior year period, and by the Aptima Combo 2 assay for detecting Chlamydia and gonorrhea. Clinical diagnostics sales also benefited from the weaker U.S. dollar, which added an estimated $0.9 million, or 1%, to growth.

In blood screening, sales declined compared to the first quarter of 2009 due to the $8.2 million of non-recurring revenue that was recorded in the prior year period. Excluding this benefit, blood screening sales would have increased by 11%, mainly due to the contractual increase in the share of revenues received from Novartis, the company's blood screening collaborator, and increased sales of Tigris instruments to Novartis. These instrument sales are generally a precursor to future assay sales. Blood screening sales also benefited from the weaker U.S. dollar, which added an estimated $1.2 million, or more than 2%, to growth.

Sales of research products and services in the first quarter of 2010 were $4.1 million. These sales, resulting from the Tepnel acquisition, were not included in Gen-Probe's prior year results.

Collaborative research revenues in the first quarter of 2010 were $3.3 million, compared to $1.7 million in the prior year period, an increase of 94% that resulted primarily from increased funding from Novartis associated with the development of the fully automated Panther instrument for the blood screening market.

Royalty and license revenues in the first quarter of 2010 were $1.6 million, compared to $2 million in the prior year period, a decrease of 20% that resulted mainly from lower royalties from Novartis associated with the use of Gen-Probe's technologies in the plasma screening market.