Operating income up 37% at Qiagen

Qiagen of the Netherlands says that consolidated net sales forsecond-quarter 2001 increased 24% to $66 million, while operating income, excluding the effect of one-time charges related to the the firm's acquisition of Operon Technologies (Marketletter July 10, 2000), rose 37% to $14.8 million. Net income climbed some 57% to $11.3 million and diluted earnings per share were up 60% to $0.08. For the six-month period ended June 30, net sales increased 25% to $129.2 million, while net income rose 51% to $19.3 million.

The results "emphasize Qiagen's exciting growth path," according to chief executive Metin Colpan, fueled by the broadening knowledge and databases of genetic information "which is leading to expanding use of this knowledge for research, drug development and diagnostic applications." Demand for Qiagen's portfolio of products has increased, Dr Colpan added, noting that the latter is built on over 400 applied-for and issued patents as well as a similar number under license.

He concluded by saying that the firm's pipeline and significant resources in R&D, "coupled with the power of one of the largest and most focused sales and marketing forces in our industry," uniquely positions Qiagen to identify and address new applications for nucleic acid separation, purification and handling.