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Qiagen reports net sales up at $13 million for the second quarter
By Lisa Kerner
Charlotte, N.C., Aug. 7 - Qiagen NV said for the second quarter ended June 30, the company had net sales of $113 million, up from $100.3 million for the second quarter ended June 30, 2005. Operating income for the quarter increased 1% to $21.7 million, from $21.6 million in the same quarter of 2005.
Qiagen's net income for the quarter increased 3% to $14.2 million, from $13.8 million in the prior year period.
Diluted earnings per share for the second quarter remained unchanged at $0.09 in 2006.
"Qiagen experienced a successful second quarter 2006," chief executive officer Peer Schatz said in a company news release.
"Our organic growth rate of more than 11% in our consumables business and 10% overall once again was one of the fastest in our industry and the result of a focused, innovation-driven strategy."
For the six-month period ended June 30, net sales were up 14% at $ 221.9 million, from $195.3 million for the same period in 2005.
Operating income for the first half of 2006 rose 9% to $47 million, from $43 million for the first half of 2005.
Qiagen's net income for the six-month period was up 14% at $31.7 million, from $27.7 million for the prior-year period.
Diluted earnings per share for the six months ended June 30 increased 11% to $0.21, from $0.19 in the year-ago period.
Company highlights for the six-month period include launching more than 39 new products in the areas of preanalytical sample processing, assay technologies and molecular diagnostic assays and the acquisition of Gentra Systems, Inc.
The company also relocated various activities from its Norwegian facility to its European operational headquarters location in Hilden, Germany, and sold $300 million of 3.25% senior convertible notes due 2026.
Qiagen is a Venlo, Netherlands-based maker of research equipment and instruments for the biotech sector.
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