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QIAGEN Reports First Quarter 2013 Results

Stocks in this article: QGEN

VENLO, The Netherlands, April 29, 2013 /PRNewswire/ --

  • Achieves Q1 2013 targets: Net sales of $303.6 million grow 3% CER on expansion in all regions; adjusted diluted EPS at $0.23 per share; free cash flow of $30 million
  • Progress  to ward accelerating innovation and growth in 2013:
  • Molecular Diagnostics (+11% CER) and Applied Testing (+5% CER) deliver solid results, more than offset weak market conditions in Pharma and Academia
  • QIAsymphony au to mation platform well on track  to  surpass 1,000 cumulative placements during 2013; new QIAlink software provides interface  to  labora to ry information management systems
  • Acquisition of Ingenuity Systems, global leader in analysis and interpretation of complex biological data, adds  to  QIAGEN's ecosystem for molecular testing
  • Advancing more than 35 diagnostic development projects, expanding leadership in Personalized Healthcare with Eli Lilly master framework collaboration
  • QIAGEN adjusts full-year 2013 guidance for Ingenuity acquisition and Academia market trends, continues  to  expect higher sales and adjusted earnings

QIAGEN N.V. (NASDAQ: QGEN; Frankfurt Prime Standard: QIA) announced results of operations for the first quarter of 2013, delivering innovation and growth in a challenging business environment.

"Our results for the first quarter of 2013 show the ability of QIAGEN to grow amid challenging conditions. Our sales to customers in Molecular Diagnostics showed solid growth, and the improved performance was supported by Applied Testing and all regions delivering growth that more than compensated for soft conditions in Academia given government funding concerns in various markets and in particular sequestration in the United States," said Peer M. Schatz, Chief Executive Officer of QIAGEN N.V. "Our portfolio of growth drivers - which include the QIAsymphony automation platform, the QuantiFERON-TB latent tuberculosis test and our Personalized Healthcare franchise - is building momentum and showed significant gains as Molecular Diagnostics delivered double-digit growth.

"QIAGEN's commitment to growing through innovation is strong. We are preparing QIAGEN's next-generation sequencing solutions for clinical research and diagnostics, and Ingenuity Systems adds a leading solution for the analysis and interpretation of complex biological data to our ecosystem for molecular testing. Our development pipeline of more than 35 diagnostic assays is advancing, and key submissions are planned for 2013 and 2014, especially for infectious disease tests in Profiling and companion diagnostics in Personalized Healthcare. As we seek new ways to improve efficiency and effectiveness, QIAGEN is well-positioned to achieve its goals for 2013 and advance our mission of making improvements in life possible."

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