Qiagen forecasts 40% growth in 2008
Netherlands-based diagnostics firm Qiagen NV says that, for the quarter ended December 31, 2007, operating income fell 7% to $25.0 million. However, on an adjusted basis, excluding costs associated with the purchase of Digene and eGene (Marketletter April 23 and August 6, 2007), operating earnings for the period were $51.8 million, up 55%.
Qiagen's full-year 2007 operating income, also on an adjusted basis, increased 36% to $164.3 million, on revenue of $649.8 million, up 40% on 2006. For 2008, the firm expects sales in the $875.0 million to $905.0 million range, and earnings per share of between $0.76 and $0.80.
Analysts surveyed by Thomson Financial were more optimistic, predicting sales of $879.0 million, on EPS of $0.78. The price was up 2.7% to $21.49 on the day of the news.
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