Gen-Probe boosts outlook on product sales

SAN DIEGO - Diagnostic test maker Gen-Probe Inc. raised its full-year profit outlook late Thursday on better-than-expected sales of diagnostic and blood-screening products.

The company now expects profit between $1.91 and $1.93 per share, up from prior guidance of between $1.83 and $1.87 per share. Meanwhile, it now projects revenue between $470 million and $472 million, which is tightened from prior guidance of $467 million to $472 million.

Analysts polled by Thomson Reuters expect profit of $1.86 per share on revenue of $472 million.

Gen-Probe raised the forecast after beating Wall Street's third-quarter profit expectations on higher sales of its clinical diagnostic and blood-screening products.

Shares of Gen-Probe rose 51 cents to $46.39 in morning trading Friday.

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