Qiagen's income up 14.4% to $19.5M

Dutch molecular diagnostics company Qiagen NV says that, for the fourth quarter of 2006, its net income was $19.5 million, up 15.4% on the $16.9 million it earned in the comparable period in 2005.

Qiagen explained that the rise in profits had been driven by an increase in its revenue, up 21% to $125.9 million, adding that this was a result of the improved performance of its consumable and instrumentation businesses, which grew 17% and 19%, respectively.

Analysts at Lehman Brothers said that, despite the improved fourth quarter, Qiagen's 2007 revenue guidance in the $518.0 million to $535.0 million range and predicted earnings per share of between $0.60 and $0.63, was subdued reflecting of higher anticipated R&D costs following the acquisition of Genaco (Marketletter November 6, 2006).