PRESS RELEASE: QIAGEN Reports Strong Fourth Quarter and Fiscal 2009 Results
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AS. The issuer is solely responsible for the content of this announcement.
Fiscal 2009 Net Sales Exceed $1 Billion
Venlo, The Netherlands, February 8, 2010 - QIAGEN N.V. (Nasdaq: QGEN; Frankfurt,
Prime Standard: QIA) today announced the results of operations for the fourth
quarter and the fiscal year ended December 31, 2009.
The reported net sales for the fourth quarter 2009 exceeded the guidance and
reported net sales and adjusted earnings per share for fiscal year 2009 were at
the high end of company's expectations provided by the Company on November
9, 2009. Reported net sales for fiscal 2009 exceeded US$1 billion for the first
time in the Company's history.
Fourth Quarter 2009 Results
+----------------------------------------------------------------------------+
|QIAGEN's Fourth Quarter 2009 |
+----------------------------------------------------------------------------+
|in US$ millions, except per share information Q4 2009 Q4 2008 Growth|
+----------------------------------------------------------------------------+
| |
| |
|Net sales 289.1 237.2 22%|
| |
|Net sales at constant exchange rates 272.1 237.2 15%|
| |
|Operating income, adjusted 83.4 66.6 25%|
| |
|Net income, adjusted 57.6 43.7 32%|
| |
|EPS, adjusted( )(US$) 0.24 0.22 9%|
| |
| |
+----------------------------------------------------------------------------+
For information on the adjusted figures, please refer to the reconciliation
table
accompanying this release.
The Company reported that consolidated net sales for its fourth quarter 2009
increased 22% to $289.1 million from $237.2 million in the same quarter of
2008. Excluding the favorable impact from foreign currency exchange rates, net
sales for the fourth quarter 2009 would have increased 15% from the fourth
quarter 2008. Reported operating income for the quarter increased 6% to $42.9
million from $40.4 million in the same quarter of 2008, and net income for the
quarter increased 80% to $44.5 million from $24.7 million in the same quarter of
2008. Diluted earnings per share for the fourth quarter increased 50% to $0.18
in 2009 (based on 241.0 million weighted average shares and share equivalents
outstanding) from $0.12 in 2008 (based on 202.0 million weighted average shares
and share equivalents outstanding).
On an adjusted basis, fourth quarter operating income increased 25% to $83.4
million in 2009 from $66.6 million in 2008, and fourth quarter 2009 adjusted net
income increased 32% to $57.6 million from $43.7 million in 2008. Adjusted
diluted earnings per share increased to $0.24 in the fourth quarter 2009 from
$0.22 in 2008.
Fiscal Year 2009 Results
+----------------------------------------------------------------------------+
|QIAGEN's Fiscal Year 2009 |
+----------------------------------------------------------------------------+
|in US$ millions, except per share information 12M 2009 12M 2008 Growth|
+----------------------------------------------------------------------------+
| |
| |
|Net sales 1,009.8 893.0 13%|
| |
|Net sales at constant exchange rates 1,038.6 893.0 16%|
| |
|Operating income, adj. 296.1 252.7 17%|
| |
|Net income, adj. 199.6 163.3 22%|
| |
|EPS, adj.( )(US$) 0.93 0.80 16%|
| |
| |
+----------------------------------------------------------------------------+
For information on the adjusted figures, please refer to the reconciliation
table
accompanying this release.
For the year ended December 31, 2009, net sales increased 13% to $1,009.8
million compared to $893.0 million in 2008. Excluding the unfavorable impact
from foreign currency exchange rates, net sales for the fiscal year 2009 would
have increased 16%. Operating income as reported for fiscal 2009 increased 24%
to $180.2 million from $145.7 million in 2008. Net income increased 55% to
$137.8 million from $89.0 million in 2008, and diluted earnings per share
increased 45% to $0.64 in 2009 (based on 213.6 million weighted average shares
and share equivalents outstanding) from $0.44 in 2008 (based on 204.3 million
weighted average shares and share equivalents outstanding).
On an adjusted basis, operating income for the year ended December 31, 2009
increased 17% to $296.1 million in 2009 from $252.7 million in 2008, and
adjusted net income increased 22% to $199.6 million from $163.3 million.
Adjusted diluted earnings per share in fiscal 2009 increased 16% to $0.93 per
share from $0.80 per share in 2008.
QIAGEN's fourth quarter and fiscal year 2009 results include the results of
operations from the Company's recent acquisitions, the most significant of which
were SABiosciences Corporation, acquired in December 2009, DxS Ltd., acquired in
September 2009, and Corbett Life Sciences, acquired in July 2008.
Reconciliations of reported results determined in accordance with generally
accepted accounting principles (GAAP) to adjusted results are included in the
tables accompanying this release.
"2009 was a very successful year for QIAGEN," said Peer Schatz, QIAGEN's Chief
Executive Officer. "Net sales and adjusted net income demonstrated significant
growth. Net sales grew 22% - significantly faster than the overall market
growth. Strong growth in net sales and adjusted net income as well as an organic
growth rate of 13% define the most successful year in the company's history and
drove revenues to surpass the $1 billion mark. The solid foundation of
innovation-driven, organic growth also allows us to plan for strong growth in
2010 and beyond.
The largest revenue share we recorded for fiscal 2009 was in sales to customers
in molecular diagnostics (approximately 47% of total revenues) followed by sales
to customers in academia (approximately 26% of total revenues), in pharma
(approximately 21% of total revenues) and in applied testing (approximately 6%
of total revenues). Growth of our sales to customers in molecular diagnostics
was fueled by strong sales of our profiling solutions (including our influenza
and other infectious disease assays) as well as products addressing prevention
(such as HPV screening and genotyping) and personalized healthcare testing.
Sales to customers in the pharmaceutical and biotech industry conducting
clinical development continued to experience solid growth during the fourth
quarter, academic research markets continued to perform solidly and we are
looking forward to the effect of the stimulus programs which are expected for
2010 and into 2011.
Our acquisition strategy remains focused, consistent and value-creating,
providing complementary technologies, new commercial capabilities and geographic
reach. For example, during 2009 we further strengthened our strong content
engine for research and molecular diagnostics assays. In December 2009 we
acquired SABiosciences and added a portfolio of PCR-based, pathway-focused
panels that represent highly efficient solutions for pathway- and
disease-biomarker discovery and development and diagnostics development. The
acquisition of DxS Ltd. in September 2009 combined two leadership positions in
companion diagnostics to create a very powerful leader in a transformational
area of healthcare: personalized healthcare.
In addition we formed a very promising position in point of need testing. The
acquisition of ESE GmbH in January 2010 added to QIAGEN's instrumentation
platform a portable, battery operated, "ultra-fast time to result", analysis
system. This platform can run QIAGEN assay technologies in formats suitable for
point of need testing in healthcare and applied testing (e.g. veterinary, food,
environmental, biodefense testing), and in all other settings, where a
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(MORE TO FOLLOW) Dow Jones Newswires
February 08, 2010 16:02 ET (21:02 GMT)
PRESS RELEASE: QIAGEN Reports Strong Fourth -2-
laboratory infrastructure is not accessible and low-throughput molecular testing
and fast turnaround is required.
All three transactions contribute to key elements of our strategy to lead in
molecular diagnostics-based prevention, profiling, personalized healthcare and
point of need testing. With different platform technologies that address all
needs in terms of throughput, flexibility in assay technologies, convenience in
handling and efficiency in performance, an industry leading assays portfolio and
a pipeline that provides us with an ongoing stream of new assays to launch, we
are excellently positioned not only to participate from but also to shape
current and future trends in molecular based testing and life science research."
"QIAGEN experienced a successful fiscal year 2009 with reported revenues and
adjusted earnings per share at the high end of our expectations," said Roland
Sackers, QIAGEN's Chief Financial Officer. "Assuming constant exchange rates for
both fiscal years revenue growth was 16% and was fueled by a strong organic
growth of 13%, adjusted for the divesture of certain assets related to our
activities in HLA diagnostics (transplantation diagnostics) in July 2009.
Our consumable products portfolio contributed 10% growth (13% at constant
exchange rates) in fiscal year 2009 and our sales of instrumentation products
recorded a growth rate of 37% (42% at constant exchange rates). Net sales in the
Americas for fiscal year 2009 represented approximately 49% of our overall
business and recorded a growth rate of 10% (12% at constant exchange rates) and
European sales, which represent approximately 36% of our revenues, showed a
growth rate of 11% (19% at constant exchange rates). Net sales in Asia remained
strong, showing a growth rate of 39% (36% at constant exchange rates)."
Fiscal Year 2010 Guidance
Based on foreign currency exchange rates as of January 31, 2010, QIAGEN expects
revenues between $1,120 and $1,170 million in 2010 with a growth rate of 11% to
16% when compared to 2009 and adjusted diluted earnings per share between $0.90
and $0.96 including a diluting effect of $0.02 following the DxS acquisition in
September 2009. Based on foreign currency exchange rates as of November 9, 2009
(the date of the Company's third quarter 2009 earnings conference call), revenue
guidance for 2010 would have been approximately $35 million higher.
QIAGEN - Sample and Assay Technologies Highlights
* QIAGEN established the QIAGENcares program to support regions in need
for effective diagnostic testing solutions and announced the first two programs
under this Corporate Social Responsibility program:
o QIAGEN and the Chittaranjan National Cancer Institute (CNCI) formed a
collaboration to establish the first large-scale cervical cancer screening
program for women in Kolkata, India. The initiative will
be conducted over 5
years and is expected to reach 50,000 women.
o QIAGEN agreed to donate one million HPV tests over the run of this cancer
screening program.
* QIAGEN entered into an agreement to supply molecular sample and assay
technologies for a new national, PCR-based blood screening program for HIV and
Hepatitis C (HCV) in Brazil. QIAGEN will provide Bio-Manguinhos, the main
provider of vaccines and diagnostics to the Brazilian Ministry of Health, with a
significant volume of molecular testing solutions - sample and assay
technologies, related instrumentation, operational know-how and training. The
agreement is expected to run for five years and contains options for subsequent
extensions.
* QIAGEN significantly expanded its strategic position in molecular
diagnostics:
o QIAGEN acquired Explera s.r.l., a leading supplier in molecular diagnostics
and personalized medicine in Italy. With this acquisition QIAGEN is doubling the
size of its molecular diagnostics sales channel in Italy and is adding several
activities in the area of personalized medicine and access to a suite of CE-IVD
pyrosequencing assays.
o QIAGEN acquired DxS Ltd., a developer and manufacturer of companion
diagnostic products (CDx) for Personalized Healthcare (PHC). With this
acquisition, QIAGEN has added to its own activities in CDx and taken a strong
leadership position in the new era of PHC.
o QIAGEN acquired SABiosciences. This transaction added to QIAGEN's product
offering a leading portfolio of PCR-based, disease and pathway-based panels that
play key roles in biomedical research and the development of future drugs and
diagnostics.
o QIAGEN acquired ESE GmbH, a developer and manufacturer of portable, battery
operated, "ultra-fast time to result", multiplex UV and fluorescence optical
measurement devices which enable low-throughput molecular testing in practices,
emergency rooms, remote field areas, and other settings where a laboratory
infrastructure is not accessible and fast turnaround is required.
* QIAGEN launched 79 new products in the area of Sample & Assay
Technologies including the PAXgene Blood miRNA kit for use in cancer, biomarker
and miRNA research and the QIAamp Circulating Nucleic Acid kit for sample
preparation in prenatal or other circulating nucleic acid research. In addition
QIAGEN launched a number of assay technologies including two multiplexed,
PCR-based CE-marked digene HPV Genotyping Tests, a next generation CE marked
mutation profiling KRAS test as well as a BRAF test for use in cancer treatments
and assay technologies for epigenetic methylation analysis based on
pyrosequencing technology.
* QIAGEN and Pfizer entered into an agreement to develop a companion
diagnostic assay for PF-04948568 (CDX-110), an immunotherapy vaccine in
development for the treatment of glioblastoma multiforme (GBM). Glioblastoma
multiforme is the most common malignant primary brain tumor in adults and occurs
in around 25,000 patients worldwide each year. Pfizer's investigational drug
PF-04948568 (CDX-110) is a peptide vaccine which targets the tumor-specific
Epidermal Growth Factor Receptor variant III (EGFRvIII), a mutated form of the
epidermal growth factor receptor that is only present in cancer cells and occurs
in 25-40 percent of GBM tumors. The QIAGEN assay is designed to identify those
patients whose tumors express the EGFRvIII mutation, allowing for the
possibility of more targeted and personalized treatment.
* QIAGEN acquired a global and exclusive license for biomarker PI3K from
John Hopkins University and intends to develop PCR and real time-PCR assays for
companion diagnostic use with certain cancer treatments. A number of studies
suggest that mutations in the PI3K oncogene are indicative for successful
antibody treatment of patients suffering from lung, breast and other cancers.
The license includes all countries and allows QIAGEN to enter partnerships with
pharmaceutical companies to develop and market tests for new cancer drug
candidates.
Conference
Call and Webcast Details
Detailed information on QIAGEN's business and financial performance will
be presented during its conference call on February 9, 2010 at 9:30am ET. The
corresponding presentation slides will
be available for download on the
Company's website at www.qiagen.com/goto/ConferenceCall
. A webcast of the conference call
will also be available at www.qiagen.com/goto/ConferenceCall
.
Use of Adjusted Results
QIAGEN has regularly reported adjusted results to give additional insight into
its financial performance as well as considered results on a constant currencies
basis. Adjusted results should be considered in addition to the reported results
prepared in accordance with generally accepted accounting principles, but should
not be considered as a substitute. The Company believes certain items should be
excluded from adjusted results when they are outside of its ongoing core
operations, vary significantly from period to period, or affect the
comparability of results with the Company's competitors and its own prior
periods. Reconciliations of reported results to adjusted results are included in
the tables accompanying this release.
About QIAGEN
QIAGEN N.V., a Netherlands holding company, is the leading global provider of
sample and assay technologies. Sample technologies are used to isolate and
process DNA, RNA and proteins from biological samples such as blood or tissue.
Assay technologies are used to make these isolated biomolecules visible. QIAGEN
has developed and markets more than 500 sample and assay products as well as
automated solutions for such consumables. The Company provides its products to
molecular diagnostics laboratories, academic researchers, pharmaceutical and
biotechnology companies, and applied testing customers for purposes such as
forensics, animal or food testing and pharmaceutical process control. QIAGEN's
assay technologies include one of the broadest panels of molecular diagnostic
tests available worldwide. This panel includes the first FDA-approved test for
human papillomavirus (HPV), the primary cause of cervical cancer. QIAGEN employs
nearly 3,500 people in over 30 locations worldwide. Further information about
QIAGEN can be found at http://www.qiagen.com/.
Certain of the statements contained in this news release may be considered
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(MORE TO FOLLOW) Dow Jones Newswires
February 08, 2010 16:02 ET (21:02 GMT)
PRESS RELEASE: QIAGEN Reports Strong Fourth -3-
forward-looking statements within the meaning of Section 27A of the U.S.
Securities Act of 1933, as amended, and Section 21E of the U.S. Securities
Exchange Act of 1934, as amended. To the extent that any of the statements
contained herein relating to QIAGEN's products, markets, strategy or operating
results, including without limitation expected operating results, are
forward-looking, such statements are based on current expectations and
assumptions that involve a number of uncertainties and risks. Such uncertainties
and risks include, but are not limited to, risks associated with management of
growth and international operations (including the effects of currency
fluctuations, regulatory processes and dependence on logistics), variability of
operating results and allocations between business segments, the commercial
development of the applied testing markets, personal healthcare markets,
clinical research markets and proteomics markets, women's health/HPV testing
markets, nucleic acid-based molecular diagnostics market, and genetic
vaccination and gene therapy markets, changing relationships with customers,
suppliers and strategic partners, competition, rapid or unexpected changes in
technologies, fluctuations in demand for QIAGEN's products (including
fluctuations due to general economic conditions, the level and timing of
customers' funding, budgets, and other factors), our ability to obtain
regulatory approval of our infectious disease panels, difficulties in
successfully adapting QIAGEN's products to integrated solutions and producing
such products, the ability of QIAGEN to identify and develop new products and to
differentiate and protect its products from competitors' products, market
acceptance of QIAGEN's new products and the integration of acquired technologies
and businesses. For further information, refer to the discussions in reports
that QIAGEN has filed with, or furnished to, the U.S. Securities and Exchange
Commission (SEC).
###
QIAGEN N.V.
CONDENSED CONSOLIDATED STATEMENTS OF INCOME
(unaudited)
Three months
(in thousands,
except per share
data) ended December 31,
----------------------------------
2009 2008
----------------------------------
Net sales $ 289,077 $ 237,182
Cost of sales 100,965 79,731
----------------------------------
Gross profit 188,112 157,451
----------------------------------
Operating expenses:
Research and development 30,560 28,049
Sales and marketing 68,957 59,662
General and
administrative,
integration and other 39,723 25,265
Acquisition-related
intangible amortization 5,933 3,884
Purchased in-process
research and development - 155
----------------------------------
Total operating expenses 145,173 117,015
----------------------------------
Income from operations 42,939 40,436
----------------------------------
Other income (expense):
Interest income 980 2,121
Interest expense (7,504) (8,695)
Other income, net 12,996 2,311
----------------------------------
Total other income (expense) 6,472 (4,263)
----------------------------------
Income before provision for income taxes 49,411 36,173
Provision for income taxes 4,947 11,490
----------------------------------
$ $
Net income attributable to QIAGEN N.V. 44,464 24,683
Weighted average number of
diluted common shares 241,018 202,039
Diluted net income
attributable to QIAGEN N.V.
per common share $ 0.18 $ 0.12
Diluted net income
attributable to QIAGEN
N.V. per common share,
adjusted $ 0.24 $ 0.22
QIAGEN N.V.
CONDENSED CONSOLIDATED STATEMENTS OF INCOME
(unaudited)
Twelve months
(in thousands,
except per share
data) ended December 31,
-----------------------------
2009 2008
-----------------------------
Net sales $ 1,009,825 $ 892,975
Cost of sales 342,752 293,285
-----------------------------
Gross profit 667,073 599,690
-----------------------------
Operating expenses:
Research and development 107,900 97,331
Sales and marketing 244,814 227,408
General and administrative,
integration and other 115,933 113,936
Acquisition-related
intangible amortization 18,221 14,368
Purchased in-process
research and development - 985
-----------------------------
Total operating expenses 486,868 454,028
-----------------------------
Income from operations 180,205 145,662
-----------------------------
Other income (expense):
Interest income 3,522 9,511
Interest expense (29,641) (37,527)
Other income, net 18,244 1,640
-----------------------------
Total other expense (7,875) (26,376)
-----------------------------
Income before provision for income taxes and
noncontrolling interest 172,330 119,286
Provision for income taxes 34,563 29,762
-----------------------------
Net income 137,767 89,524
-----------------------------
Less: Noncontrolling interest 491
-----------------------------
Net income attributable to QIAGEN N.V. $ 137,767 $ 89,033
Weighted average number of
diluted common shares 213,612 204,259
Diluted net income
attributable to QIAGEN N.V.
per common share $ 0.64 $ 0.44
Diluted net income
attributable to QIAGEN N.V.
per common share, adjusted $ 0.93 $ 0.80
QIAGEN N.V.
CONDENSED CONSOLIDATED BALANCE SHEETS
(in thousands,
except par
value) December 31, December 31,
2009 2008
---------------------------------------
Assets (unaudited)
Current Assets:
$
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(MORE TO FOLLOW) Dow Jones Newswires
February 08, 2010 16:02 ET (21:02 GMT)
PRESS RELEASE: QIAGEN Reports Strong Fourth -4-
Cash and cash equivalents 825,557 $ 333,313
Short-term investments 40,000 -
Accounts receivable, net 193,737 158,440
Income taxes receivable 12,907 14,441
Inventories, net 130,851 108,563
Prepaid expenses and other 96,893 61,424
Deferred income taxes 33,525 27,374
---------------------------------------
Total current assets 1,333,470 703,555
---------------------------------------
Long-Term Assets:
Property, plant and equipment, net 317,467 289,672
Goodwill 1,337,064 1,152,105
Intangible assets, net 752,296 640,309
Deferred income taxes 26,387 73,766
Other assets 29,780 25,916
---------------------------------------
Total long-term assets 2,462,994 2,181,768
---------------------------------------
---------------------------------------
$
Total assets 3,796,464 $ 2,885,323
Liabilities and Shareholders' Equity
Current Liabilities:
$
Accounts payable 43,775 $ 48,836
Accrued and other liabilities 248,699 163,513
Income taxes payable 10,727 14,288
Current portion of long-term debt 50,000 25,000
Current portion of capital lease
obligations 3,417 2,984
Deferred income taxes 18,912 7,754
---------------------------------------
Total current
liabilities 375,530 262,375
---------------------------------------
Long-Term Liabilities:
Long-term debt, net of current portion 870,000 920,000
Capital lease obligations, net of
current portion 27,554 29,718
Deferred income taxes 212,690 212,589
Other 19,521 6,797
---------------------------------------
Total long-term
liabilities 1,129,765 1,169,104
---------------------------------------
Shareholders' Equity:
Common shares, EUR .01 par value:
Authorized--410,000
shares
Issued and
outstanding--232,074
shares
in 2009 and 197,839
shares in 2008 2,711 2,212
Additional
paid-in-capital 1,622,733 958,665
Retained earnings 615,579 477,812
Accumulated other
comprehensive income 50,146 15,155
---------------------------------------
Total QIAGEN N.V.
shareholders' equity 2,291,169 1,453,844
---------------------------------------
---------------------------------------
Total liabilities and $
shareholders' equity 3,796,464 $ 2,885,323
QIAGEN N.V.
RECONCILIATION OF REPORTED TO ADJUSTED FIGURES
(unaudited)
Three months ended December 31, 2009
(in millions, except EPS data)
Net Gross Operating Pre-tax Income Net Diluted
Sales Profit Income Income Tax Income EPS*
----------------------------------------------------------------
Reported $ $ $ $ $ $
results 289.1 188.1 $ 42.9 49.4 (4.9) 44.5 0.18
Adjustments:
Business
integration,
acquisition
related and
restructuring
costs - 4.2 17.9 17.9 (6.3) 11.6 0.05
Purchased
intangibles
amortization - 14.3 20.2 20.2 (7.5) 12.7 0.05
Share-based
compensation - 0.1 2.4 2.4 (0.7) 1.7 0.01
Income from
Divestitures
and other
acquisition
related income - - - (10.5) (2.4) (12.9) (0.05)
----------------------------------------------------------------
Total
adjustments - 18.6 40.5 30.0 (16.9) 13.1 0.06
----------------------------------------------------------------
Adjusted $ $ $ $ $ $
results 289.1 206.7 $ 83.4 79.4 (21.8) 57.6 0.24
* Using 241 Mio. diluted
shares
Three months ended December 31, 2008
(in millions, except EPS data)
Net Gross Operating Pre-tax Income Net Diluted
Sales Profit Income Income Tax Income EPS*
----------------------------------------------------------------
Reported $ $ $ $ $ $
results 237.2 157.5 $ 40.4 36.2 (11.5) 24.7 0.12
Adjustments:
Business
integration,
acquisition
related and
restructuring
costs - 1.0 5.8 5.8 (1.4) 4.4 0.03
Purchased
in-process R&D - - 0.2 0.2 - 0.2 -
Purchased
intangibles
amortization - 13.2 17.1 17.1 (4.9) 12.2 0.06
Share-based
compensation - 0.2 3.1 3.1 (0.9) 2.2 0.01
----------------------------------------------------------------
Total
adjustments - 14.4 26.2 26.2 (7.2) 19.0 0.10
----------------------------------------------------------------
Adjusted $ $ $ $ $ $
results 237.2 171.9 $ 66.6 62.4 (18.7) 43.7 0.22
* Using 202 Mio. diluted
shares
QIAGEN N.V.
RECONCILIATION OF REPORTED TO ADJUSTED FIGURES
(unaudited)
Twelve months ended December 31, 2009
(in millions, except EPS data)
Gross Operating Pre-tax Income Net Diluted
Net Sales Profit Income Income Tax Income EPS*
----------------------------------------------------------------
Reported $ $ $ $ $ $
results 1,009.8 667.1 $ 180.2 172.3 (34.5) 137.8 0.64
Adjustments:
Business
integration,
acquisition
related and
restructuring
costs - 7.4 34.4 34.4 (11.3) 23.1 0.11
Purchased
intangibles
amortization - 53.6 71.8 71.8 (25.6) 46.2 0.22
Share-based
compensation - 0.8 9.7 9.7 (2.9) 6.8 0.03
Income from
Divestitures
and other
acquisition
related income - - - (12.9) (3.2) (16.1) (0.08)
Acquisition
related
write-off of
prepaid
expenses and
other asset
impairment - - - 2.7 (0.9) 1.8 0.01
----------------------------------------------------------------
Total
adjustments - 61.8 115.9 105.7 (43.9) 61.8 0.29
----------------------------------------------------------------
Adjusted $ $ $ $ $ $
results 1,009.8 728.9 $ 296.1 278.0 (78.4) 199.6 0.93
* Using 214 Mio. diluted shares
Twelve months ended December 31, 2008
(in millions, except EPS data)
Gross Operating Pre-tax Income Net Diluted
Net Sales Profit Income Income Tax Income EPS*
----------------------------------------------------------------
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(MORE TO FOLLOW) Dow Jones Newswires
February 08, 2010 16:02 ET (21:02 GMT)
PRESS RELEASE: QIAGEN Reports Strong Fourth -5-
Reported $ $ $ $ $ $
results 893.0 599.7 $ 145.7 119.3 (29.8) 89.0 0.44
Adjustments:
Business
integration,
acquisition
related and
restructuring
costs - 1.4 33.5 33.5 (11.2) 22.3 0.11
Purchased
in-process R&D - - 1.0 1.0 - 1.0 0.01
Purchased
intangibles
amortization - 48.7 63.1 63.1 (21.1) 42.0 0.20
Share-based
compensation - 1.0 9.4 9.4 (2.9) 6.5 0.03
Acquisition
related
impairment - - - 4.0 (1.5) 2.5 0.01
----------------------------------------------------------------
Total
adjustments - 51.1 107.0 111.0 (36.7) 74.3 0.36
----------------------------------------------------------------
Adjusted $ $ $ $ $ $
results 893.0 650.8 $ 252.7 230.3 (66.5) 163.3 0.80
* Using 205 Mio. diluted shares
Contacts:
Roland Sackers Dr. Solveigh Mähler
Chief Financial Officer Director Investor Relations
QIAGEN N.V. QIAGEN N.V.
e-mail: roland.sackers@qiagen.com +49 2103 29 11710
e-mail: solveigh.maehler@qiagen.com
Albert F. Fleury
Associate Director Investor Relations
North America
QIAGEN N.V.
+1 301 944 7028
e-mail: albert.fleury@qiagen.com
[HUG#1381805]
--- End of Message ---
Qiagen N.V.
Spoorstraat 50 KJ Venlo Netherlands
WKN: 901626;ISIN: NL0000240000;Index:TecDAX,HDAX,TECH All Share,MIDCAP;Prime All Share;
http://www.qiagen.com
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(END) Dow Jones Newswires
February 08, 2010 16:02 ET (21:02 GMT)
