GlobeNewswire
2010-02-08
Fiscal 2009 Net Sales Exceed $1 Billion
VENLO, Netherlands, Feb. 8, 2010 (GLOBE NEWSWIRE) -- QIAGEN N.V.
(Nasdaq:QGEN) (Frankfurt: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 Q4 Q4
information 2009 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 12M 12M
information 2009 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 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:
-- 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.
-- 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:
-- 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.
-- 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.
-- 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.
-- 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/.
The QIAGEN N.V. logo is available at
http://www.globenewswire.com/newsroom/prs/?pkgid=3692
Certain of the statements contained in this news release may be
considered 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 December December
value) 31, 31,
2009 2008
----------- ----------
Assets (unaudited)
Current Assets:
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)
Net Gross Operating Pre-tax Income Net Diluted
Sales Profit Income Income Tax Income EPS*
------- ------- --------- ------- ------- ------- -------
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
CONTACT: QIAGEN N.V.
Roland Sackers, Chief Financial Officer
roland.sackers@qiagen.com
Dr. Solveigh Mahler, Director Investor Relations
+49 2103 29 11710
solveigh.maehler@qiagen.com
Albert F. Fleury, Associate Director Investor Relations
North America
+1 301 944 7028
albert.fleury@qiagen.com
