- Solid performance in second quarter of 2012: Net sales rise 9% (+14% CER) to $307.2 million on growth in all customer classes; adjusted diluted EPS grow to $0.25 per share
- QIAGEN raises full-year outlook for net sales and adjusted earnings growth in 2012
- Accelerating growth while making significant progress on strategic initiatives
- Driving platform success with QIAsymphony placements on track for 2012 target
- Adding content with U.S. approval of therascreen KRAS companion diagnostic
- Preparing new growth driver with initiative to provide next-generation sequencing workflow to meet clinical needs
- Program authorized to repurchase up to $100 million in QIAGEN shares
Second quarter Change In $ millions, except per share information Q2 2012 Q2 2011 $ CER Net sales 307.2 282.2 9% 14% Operating income, adjusted 86.4 78.7 10% Net income, adjusted 60.8 55.0 11% Diluted EPS, adjusted $ 0.25 $ 0.23 For information on the adjusted figures, please refer to the reconciliation table accompanying this release. Adjusted net income and adjusted diluted EPS results represent amounts attributable to the owners of QIAGEN N.V.Growth in all geographic regions and customer classes drove the strong performance (+14% CER) in the second quarter of 2012. Sales of consumables and related revenues (+12% CER) and instruments (+28% CER) both advanced at double-digit rates. Contributions from recent acquisitions - Cellestis (as of August 29, 2011), Ipsogen (as of July 12, 2011) and AmniSure (as of May 3, 2012) - provided nine percentage points to growth, while the rest of the QIAGEN portfolio added five percentage points. Currency movements had a negative impact of five percentage points on reported sales growth. Operating income declined 2% to $45.4 million in the second quarter of 2012 from $46.5 million in the 2011 quarter. Adjusted operating income, which excludes items such as restructuring and acquisition-related costs, equity-based compensation and amortization of intangible assets, rose 10% to $86.4 million from $78.7 million in the second quarter of 2011, with the adjusted operating income margin steady at 28% of net sales. The adjusted gross margin was 71% of net sales in the second quarter of 2012 compared to 73% in the same period of 2011. Net income attributable to owners of QIAGEN N.V. was steady at $33.3 million compared to the second quarter of 2011. Diluted EPS in the second quarter of 2012 was unchanged at $0.14 (based on 240.2 million diluted shares) compared to the year-earlier period (based on 241.0 million diluted shares). Adjusted net income attributable to owners of QIAGEN N.V. rose 11% to $60.8 million from $55.0 million in the 2011 quarter, as adjusted diluted EPS rose to $0.25 in the second quarter of 2012 from $0.23 in the same period of 2011. Reconciliations of reported results in accordance with U.S. generally accepted accounting principles (GAAP) to adjusted results are included in the tables accompanying this release.