Skip to main content
Premium Trial:

Request an Annual Quote

Qiagen's Q4 Sales Increase 13 Percent

NEW YORK (GenomeWeb News) – Qiagen reported after the close of the market on Monday that its fourth-quarter 2008 sales rose 13 percent and its net income soared 65 percent year over year.

The maker of sample prep and assay technologies brought in total sales of $237.2 million for the three-month period ended Dec. 31, compared to $210.2 million for the fourth quarter of 2007. The Q4 2008 results include revenues from Corbett Life Science, an Australian developer of a rotary real-time PCR cycler system called Rotor-Gene, which Qiagen acquired for up to $135 million in mid-2008.

Qiagen's net income for the period rose to $24.7 million, or $.12 per share, from $15 million, or $.07 per share, the year before.

The firm's R&D costs increased 23 percent to $28 million from $22.8 million year over year, while its SG&A spending inched up less than 1 percent to $80.1 million from $79.4 million.

For full-year 2008, Qiagen's revenues were $893 million versus $649.8 million for FY 2007.

Qiagen CEO Peer Schatz said in a statement that the firm launched more than 80 new products during the year that contributed 5 percent to net sales growth for 2008. He added that the 2008 revenues exceeded the firm's expectations.

Qiagen's profit for the year was $89 million, or $.44 per share, compared to net income of $50.1 million, or $.28 per share, for 2007.

Its R&D costs for the year were $97.3 million, up 50 percent from $64.9 million in 2007. Qiagen's SG&A spending increased 31 percent to $309.2 million from $236.6 million.

Based on currency rates as of Jan. 31, Qiagen said that it expects to report 2009 revenues of between $920 million and $970 million and EPS of between $.88 and $.94.

The Scan

UK Pilot Study Suggests Digital Pathway May Expand BRCA Testing in Breast Cancer

A randomized pilot study in the Journal of Medical Genetics points to similar outcomes for breast cancer patients receiving germline BRCA testing through fully digital or partially digital testing pathways.

Survey Sees Genetic Literacy on the Rise, Though Further Education Needed

Survey participants appear to have higher genetic familiarity, knowledge, and skills compared to 2013, though 'room for improvement' remains, an AJHG paper finds.

Study Reveals Molecular, Clinical Features in Colorectal Cancer Cases Involving Multiple Primary Tumors

Researchers compare mismatch repair, microsatellite instability, and tumor mutation burden patterns in synchronous multiple- or single primary colorectal cancers.

FarGen Phase One Sequences Exomes of Nearly 500 From Faroe Islands

The analysis in the European Journal of Human Genetics finds few rare variants and limited geographic structure among Faroese individuals.