Strong results driven by balanced performance of
Bioprocess and Bioscience Divisions
BILLERICA, Mass. – May 6, 2024 – Millipore Corporation (NYSE:MIL), a leading provider
of technologies, tools and services for the global life science
industry, today reported financial results for its first quarter
ended April 3, 2010.
Revenues for the first quarter grew 14
percent from the previous year, totaling $463.0 million. Excluding
a 5 percent favorable impact from changes in foreign currency,
Millipore generated organic revenue growth of 9 percent. On a
divisional basis, excluding changes in foreign currency,
Millipore’s Bioscience Division and Bioprocess Division each
grew 9 percent from the previous year.
Millipore’s first quarter earnings per
share were $0.99, compared to $0.95 per share in the first quarter
of 2009. Non-GAAP earnings per share grew 14 percent to $1.21 per
share, compared to $1.06 per share in the first quarter of last
year. A reconciliation of GAAP to non-GAAP financial measures is
provided in the Company’s financial tables accompanying this
press release.
“We delivered exceptional revenue growth
in the first quarter, as we benefited from the contribution of new
products, a strengthening economic environment, and continued
momentum in our core business,” said Martin Madaus, Chairman
& CEO of Millipore. “Our results were well-balanced
between both divisions, and from a geographic perspective we
generated impressive results in North America and Asia. While
strong demand from biotechnology customers continued to drive our
Bioprocess Division performance, our Bioscience Division benefited
from a rebound in spending from large pharmaceutical customers and
higher sales of our laboratory instrumentation
products.
“We continue to accelerate our investments
into initiatives that will drive product innovation. The success of
these initiatives over the past five years has enabled us to
fundamentally increase the growth profile of our business. During
the first quarter, we increased our R&D spending by 19 percent
and advanced key collaborations with technology partners, which
will help to drive long-term revenue growth. Our proposed
transaction with Merck KGaA remains on track and we look forward to
closing the transaction and creating a world-class partner for the
Life Science industry.”
SOURCE