Financial Highlights

• Grew revenues 5 percent to $1.6 billion. Excluding a 4% benefit from changes in foreign currency, revenues grew 1%. Non-GAAP earnings per share growth was 7% over 2007. Since 2005, Millipore has grown its non-GAAP earnings per share at a 15% compounded growth rate.
  
• Generated organic revenue growth of 6 percent through the Bioscience Division. The division’s growth rate was lowered by 1 percent due to the elimination of a small product line. The results in 2008 were driven by strong performance from the Laboratory Water Business Unit, successful new product launches, and solid performance in Europe and Asia. Over the past four years, the Bioscience Division has averaged approximately 8 percent organic revenue growth.
  
• Generated strong growth through our Bioprocess Division in the Process Monitoring Tools Business Unit, particularly for its NovaSeptum product line, a sterile sampling system used in biopharmaceutical manufacturing processes. The division also significantly expanded its presence in the disposable manufacturing market.
  
• Accelerated product innovation with the successful launch of several key products, including Snap i.d. for protein detection, Milli-Q Integral for laboratory water purification, MILLIPLEX MAP for multiplex immunoassays, Guava Flow Cytometry System for cell analysis, and Viresolve Pro for virus clearance.
• Generated $193 million of free cash flow and repaid $85 million of debt.

Product Portfolio

Global operations