Biosite beats Street, raises guidance

BSTE reported first quarter GAAP EPS of $0.68, beating by $0.13 the Street's $0.55 estimate but down 11% from $0.76 in the first quarter of 2005. The company attributed the difference between reported EPS and the Street's estimate, which was based on GAAP EPS, to a $0.05 benefit from resolution of tax contingencies and better-than-expected success in the BNP market. Sales of the company's Triage BNP test for heart failure rose 6% to $52.6 million from $49.8 million. Non-GAAP EPS was $0.92. ...