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Qiagen Reports Increase in Q3 Revenue, R&D Spending, Net Income

Oct 28, 2002

NEW YORK, Oct. 28 - Qiagen today reported strong third-quarter revenue growth, an in increase in R&D spending, and a slight jump in net income.

 

For the period ended Sept. 30, Qiagen said net sales were $76.9 million compared with $63.3 million during the same quarter one year ago.

 

R&D spending in the third quarter increased to $7.3 million from $6.1 million year over year.

 

Net income for the quarter increased $7.3 million, or $.05 per share, from $6.2 million, or $.04 in the year-ago quarter, the company said.

 

Qiagen said it has roughly $51.8 million in cash and cash equivalents as of Sept. 30.

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