Serologicals Corporation is a worldwide provider of biological products and enabling technologies that are essential for the research, development and manufacturing of biologically based life science products 

http://www.serologicals.com

Serologicals Corporation Reports First Quarter Results; First Quarter Revenue Exceeds Expectations and Pro Forma Net Income up 12.8% 
ATLANTA, Apr 26, 2006 (BUSINESS WIRE) -- Serologicals Corporation (NASDAQ: SERO) announced today its financial results for the first quarter ended April 2, 2006. Revenues decreased 2.8%, to $55.0 million, compared to $56.6 million in the same period last year. Diluted earnings per share increased 52.8% to $0.08 per share compared to $0.05 per share in the same period in the prior year. The decrease in revenues was primarily due to the divestiture of certain Bioprocessing product lines previously manufactured at our former facility in Milford, MA, which was sold in January 2006. The decrease was partially offset by increased revenues in the Research segment. 
As the result of our numerous acquisitions and other strategic corporate activities over the past five years, we provide pro forma results that exclude acquisition amortization, other acquisition related costs, expenses for stock-based compensation and other one-time charges. We also provide pro forma information as an addition to, and not as a substitute for, financial measures presented in accordance with GAAP. We believe the pro forma presentation is a beneficial supplemental disclosure to investors in analyzing and assessing our past and future performance.
First quarter 2006 pro forma net income was $4.9 million, or $0.14 diluted per share, compared with $4.3 million, or $0.13 diluted per share, in the first quarter of 2005. Pro forma net income and pro forma earnings per share increased by 12.8% and 12.9%, respectively. Reconciliations between GAAP results and pro forma results are presented in the attached tables and on the Company's web site (www.serologicals.com) under the Investor Relations tab.

Millipore Corporation to Acquire Serologicals Corporation; Transaction Will Create $1.4 Billion Life Science Leader; Combined Company Will Have Higher Revenue Growth and Profitability Profile 
 ATLANTA--(BUSINESS WIRE)--April 25, 2006--  Serologicals Pre-Announces First Quarter Results
Millipore Corporation (NYSE: MIL) and Serologicals Corporation (NASDAQ: SERO) announced today that their boards of directors have approved a definitive agreement whereby Millipore will acquire Serologicals for $31.55 per share in an all cash transaction. The acquisition will transform Millipore into a company with combined annual revenues of $1.4 billion, based on 2006 full year projections. Assuming stable foreign exchange rates, Millipore believes 2007 revenues for the combined company will grow between 9 and 11 percent over 2006 pro forma revenues.
The strategic combination of Millipore and Serologicals will significantly strengthen Millipore's Bioscience Division by giving it leading positions in high growth segments such as drug discovery products and services, antibodies, cell biology reagents, and stem cell research. Millipore expects to increase sales of Serologicals' products in international markets such as Europe, Asia and Japan, where Millipore has a significant presence. Millipore's Bioprocess Division will gain a cell culture supplements offering that will facilitate its entry into the $1 billion upstream bioprocessing market. As a result, Millipore will be the only company in the industry that can offer both upstream cell culture and downstream separation offerings for biopharmaceutical production, further strengthening its relationships with biotechnology and pharmaceutical customers.
The combined organization of approximately 5,800 employees will have significantly expanded R&D capabilities and a worldwide sales and service organization of approximately 1,200 professionals selling a broad portfolio of complementary products.
Transaction Details
Under the terms of the agreement, Serologicals shareholders will receive $31.55 in cash for each share of Serologicals common stock they own. The total value of the transaction, including the assumption of the projected debt at closing, is estimated at approximately $1.4 billion. The transaction, which Millipore expects to close by June 30, 2006, is subject to Serologicals shareholder approval, customary regulatory approvals, and other conditions in the merger agreement. Millipore intends to finance the transaction with a combination of cash on hand and debt. The transaction is not subject to a financing condition. However, Millipore has obtained a commitment for the financing necessary to complete the acquisition from UBS Investment Bank who is also acting as Millipore's exclusive financial advisor in connection with the transaction. J. P. Morgan Securities, Inc. is acting as Serologicals' exclusive financial advisor in connection with the transaction.

Serologicals Pre-Announces First Quarter 2006 Financial Results
Serologicals is pre-announcing anticipated financial results for the first quarter ended April 2, 2006. Revenues, diluted earnings per share and pro forma diluted earnings per share are expected to be $55.0 million, $0.08 per share and $0.14 per share, respectively. Pro forma diluted earnings per share exclude an expected $0.04 per share for amortization, $0.01 per share for acquisition integration costs, $0.02 per share for expenses for stock-based compensation and $(0.01) per share, net, related to one time charges for impairment, exiting costs and gain on sale of long-lived assets. We expect to release complete financial results and reconciliations between GAAP results and pro forma results for the first quarter of 2006 at the close of business on Tuesday, April 25, 2006