Millipore Corp. Q2 2009 Earnings Call Transcript

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2009-08-06 18:53:10.0

Tags: Revenue, Bank Of America Corp., Call Transcript, Millipore Corp., Earnings, Bioscience, Operational Accounting, Finance, Seeking Alpha

Question-and-Answer Session

Operator

(Operator Instructions). Our first question is from the line of Jon Wood with Bank of America. Please go ahead.

Jon Wood - Bank of America

Martin, you increased your currency revenue guidance by about a 1.5. Can you give us a sense of what proportion of that is related to the [flu-build]? Is the flu-build a meaningful component of that raise? Also, have you made any changes to your internal projections for Biosciences?

Martin Madaus

Yes, it's not whatever you call meaningful, it's a part of it, but there are some other dynamics in Bioprocess that also contribute to the improved performance overall for the year. So, flu production plays a role, but there are other parts that are also doing better overall. So, our revised revenue growth, excluding currency is 5% to 6% and we feel confident about that.

Bioscience is suffering a bit more in the areas that I pointed out. We have a number of good trends too and we are counting also on a number of new products are coming up in the second half. So, Bioprocess actually (inaudible) little bit faster than bioscience.

Jon Wood - Bank of America

Then any change or expected change in the process monitoring business given the manufacturing issues we have seen in the quarter? I mean do you expect that there will be any increased focus there going forward?

Martin Madaus

Manufacturing issues? Which ones are you referring to?

Jon Wood - Bank of America

I'm talking about the Genzyme issue.

Martin Madaus

Yes, that's one drug, one company is really making any impact on that. That's actually happening quite a bit. Sometimes you hear about it. Sometimes you don't, but, no, it's not a significant impact.

Jon Wood - Bank of America

Correct me if I'm wrong, you said that the Bioscience division was flat ex-Guava.

Martin Madaus

Yes, that's correct.

Jon Wood - Bank of America

But it was only 1% to the total company revenue gross. Is it just a rounding issue?

Charlie Wagner

Yes.

Martin Madaus

Yes. Rounding issue.

Jon Wood - Bank of America

Then Charlie, any change the FX, I think you said negative $0.07 and negative $0.09 for the year. Any change to that?

Charlie Wagner

For the year, foreign exchange will take less than $0.05 off of last year.

Operator

Our next question is from the line of Tycho Peterson with JPMorgan. Go ahead, please.

 

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