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Qiagen Reports Rise in Sales, Decreased Income

SAN FRANCISCO, Aug. 5 - Qiagen today reported a 10 percent increase in sales.


Net sales for the second quarter ended June 30 were $72.7 million compared with $66 million one year ago.


Net income for the quarter, excluding the one-time charges from the acquisition of GenoVision in the second quarter 2002, decreased to $4.6 million, or $ .05 per diluted earnings per share, from $11.3 million, or $.08 per diluted earnings per share, for the year-ago period.


R&D spending dropped to approximately $6.7 million compared to $7 million for the second quarter in 2001.


Qiagen said it had roughly $39.5 million in cash and cash equivalents as of June 30.

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