(RTTNews) - Thursday, life science company Millipore Corp. (MIL: News ) reported an increase in third quarter earnings, reflecting a 4% growth in revenues driven by strong performance from its Bioprocess Division. Both earnings and revenues came in ahead of Street estimates.

The Billerica, Massachusetts-based Millipore's third quarter net income available to the company increased to $39.66 million or $0.71 per share, up from $37.80 million or $0.68 per share a year ago.

Excluding items, adjusted earnings rose to $53.12 million or $0.95 per share from $52.03 million or $0.93 per share in the same period last year. On average, ten analysts polled by Thomson Reuters expected the company to earn $0.93 per share for the quarter. Analysts' estimates typically exclude special items.

In the preceding second quarter, the company reported net income of attributable to Millipore of $40.39 million or $0.72 per share, up from $38.20 million or $0.69 per share a year ago.

For the quarter under review, the company's revenues rose 4% to $411.87 million from $395.01 million a year ago. Analysts anticipated revenues of $405.82 million.

Excluding a 3% unfavorable impact from changes in foreign currency, Millipore generated organic revenue growth of 7%.
On a divisional basis, excluding changes in foreign currency, Millipore's Bioprocess Division generated organic revenue growth of 8%. The division grew in all geographies and saw strength for its chromatography media, virus filtration, and Mobius disposable manufacturing products. This segment generated revenues of $233.9 million, up 6% from $220.9 million a year ago.

Bioscience Division generated organic revenue growth of 4% over the previous year. The performance was highlighted by solid performance for multiplex immunoassays and increasing demand from customers conducting protein and neuroscience research. Revenues advanced to $178.0 million, up 2% from $174.1 million in the prior year period.

Commenting on the operations, Martin Madaus, chairman and chief executive officer, said, "Our performance in the third quarter continued the trend of healthy organic revenue growth and exceptional cash flow that we have experienced throughout 2009."

"Our top-line growth is being driven by our Bioprocess Division, which is benefitting from increased spending from large biotechnology customers, strong demand for products used to manufacture the H1N1 flu vaccine, and expanded sales in Asia," Madaus added.

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