I used a lot of Millipore's
Fourth-quarter results were fairly likable, though. Sales were up 14% as reported, and up 15% organically and in constant currency. The larger Bioprocess business led growth (sales up 24%), though Bioscience was no slouch (up 11%). Margins improved at both the gross and operating line, and reported adjusted net income was 30% higher year over year.
Millipore is still in the midst of a corporate metamorphosis. As the (relatively) new CEO said, it is trying to transform from a "solid company" to a "leading franchise" in biosciences. To that end, Millipore has been restructured into two units, roughly two-thirds of the top execs are in new or revised positions, and the company has focused on launching new products and services and making strategic acquisitions. Millipore's alliance with Gen-Probe
At the risk of oversimplification, Millipore is now a play on global growth in life sciences and biosciences R&D. For example, the company saw strong growth from businesses tied to monoclonal antibodies, recombinant proteins, and vaccines. These are major areas of clinical research interest, and often purification- and filtration-intensive work. As long as companies like Protein Design Labs
That's a fine story, but how does it play with competitors like Qiagen
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Fool contributor Stephen Simpson has no financial interest in any stocks mentioned (that means he's neither long nor short the shares).