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Qiagen s Q2 Revenues Jump 24 Percent; Announces Deals With Bayer, Genicon

NEW YORK, Aug. 6 – Qiagen on Monday reported a 24 percent surge in second-quarter revenues from the same period one year ago as demand for the company’s nucleic acid reagents and research tools continued to climb.

Revenue for the quarter ended June 30 totaled $66.0 million, up from $53.3 million during the second quarter 2000. Net earning for the recent period came in at $11.3 million, or 8 cents per share, compared with $1.8 million, or 1 cent er share, year over year.

A poll of seven analysts conducted by Thomson Financial/First Call indicated a consensus estimate of 6 cents per share.

The Venlo, Netherlands-based company spent $7.0 million on research and development during the second quarter 2001 compared with the $6.4 million it spent one year ago. Total expenses were greater in the second quarter 2000 reflecting Qiagen's $5.4 million acquisition of microarray developer Operon Technologies.

As of June 30, Qiagen had $17.8 million in cash, compared to $20.3 million at the end of March, and $24.0 million at the end of December. The company employs about 1,400 people worldwide.

Separately on Monday, Qiagen announced that Bayer has signed an early access agreement to use Qiagen’s Zeptogene technology workstation to perform gene-expression experiments using DNA microarrays. In June, Aventis Pharma agreed to use the PCR-free technology via an early-access agreement.

In another statement, Qiagen said that it had acquired the rights to exclusively distribute self-spotted microarray toolkit products that use Genicon’s Resonance Light Scattering (RLS) technology for analyzing self-spotted DNA microarrays. The companies did not disclose financial details.

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