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Qiagen s Q1 Revenues Slide 1 Percent as Earnings Grow ...

NEW YORK, May 3 (GenomeWeb News) - Qiagen yesterday reported a slight dip in revenues and increased earnings for the first quarter of 2005.


Revenues for the quarter were inched down to $95 million from $96.1 million during the same period in 2004. Some of this decrease was related to the sale of Qiagen's synthetic DNA business unit in the second quarter of last year, which contributed $10.4 million in revenues during the first quarter of 2004.


Research and development costs were slightly up this quarter, at $10.1 million from $9.4 million during the year-ago period.


Qiagen's net income totaled $13.9 million, or $.09 per share, during the quarter, up from $11.4 million, or $.08 per share, in last year's quarter.


As of March 31, Qiagen had $210.3 million in cash and cash equivalents, and $34.7 million in marketable securities.

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