WALTHAM, Mass., April 27, 2011 /PRNewswire/ — Alere Inc.
(NYSE:
ALR), a global leader in enabling individuals to take charge of
their health at home through the merger of rapid diagnostics and
health management, today announced its financial results for the
quarter ended March 31, 2011.
Financial results for the first quarter of 2011:
Net revenue of $582.5 million for the first quarter of 2011,
compared to $515.3 million for the first quarter of 2010. Product
and services revenues from our Professional Diagnostics segment
were $409.8 million in the first quarter of 2011, compared to
$336.2 million in the first quarter of 2010. Recent
professional diagnostics acquisitions contributed $30.8 million of
incremental net revenue compared to the first quarter of 2010.
North American influenza sales increased to $19.5 million for the
first quarter of 2011, compared to $2.3 million for the first
quarter of 2010. Excluding the impact of the change in North
American influenza revenues, currency adjusted organic growth in
our Professional Diagnostics segment was 6.9%. Adjusted cash-basis
gross margins were 55.8% for the first quarter of 2011, compared to
57.0% for the first quarter of 2010 and 55.3% in the fourth quarter
of 2010. Adjusted cash-basis gross margins from products and
services in our Professional Diagnostics segment were 59.6% in the
first quarter of 2011, compared to 60.1% in the fourth quarter of
2010. Adjusted cash-basis gross margins from our Health
Management segment increased sequentially from 47.6% in the fourth
quarter of 2010 to 49.0% in the first quarter of 2011. GAAP net
income of $8.1 million attributable to common stockholders of Alere
Inc. and respective net income per diluted common share of $0.09,
compared to GAAP net income of $9.0 million attributable to common
stockholders of A
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