NEW YORK, May 4 (GenomeWeb News) - Qiagen yesterday reported increased revenues and slightly higher earnings for the first quarter of 2004.
The company booked $96.1 million in revenues, up from $79.6 million during the same quarter last year. Almost 80 percent of revenues resulted from consumables, and about 10 percent each from instruments and oligos.
Research and development costs climbed to $9.4 million, from $7.5 million during the same quarter in 2003.
Qiagen's net income increased slightly to $11.4 million, or $.08 per share, from $11 million, or $.08 per share, during the year-ago period.
As of March 31, Qiagen had $108.8 million in cash and cash equivalents.