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QIAGEN Reports Results for First Quarter of 2019 and Announces Plans for New $100 Million Share Repurchase Program

VENLO, Netherlands--(BUSINESS WIRE)--

  • QIAGEN delivers on Q1 2019 outlook
    • Net sales of $348.7 million (+1.5% actual, +6.1% at constant exchange rates, or CER vs. ~5-6% CER outlook)
    • Diluted EPS of $0.13; adj. EPS of $0.27 ($0.28 CER vs. ~$0.26-0.27 CER outlook)
  • Sample to Insight portfolio fueled by dynamic innovation and disruptive solutions
    • FDA approval of new therascreen companion diagnostic for FGFR biomarker
    • QuantiFERON-TB grows 15% CER, benefits of new automation options
    • European rollout progressing for QIAstat-Dx and NeuMoDx automation systems
    • Strong QIAsymphony placements in line with 2019 goal and consumables growth
    • New cancer research products in liquid biopsy, NGS panels with bioinformatics
  • New $100 million share repurchase program planned
  • QIAGEN reaffirms 2019 outlook for growth in net sales and adjusted EPS (at CER)

QIAGEN N.V. (NYSE: QGEN; Frankfurt Prime Standard: QIA) announced results of operations for the first quarter of 2019, meeting its outlook for net sales growth at constant exchange rates, or CER, and exceeding the outlook for adjusted earnings per share at CER while driving global expansion of its Sample to Insight portfolio of molecular testing solutions.

“Our performance for the first quarter of 2019 was in line with our outlook for solid sales growth and continued improvements in profitability. QIAGEN is reaffirming the full-year outlook set for this year,” said Peer M. Schatz, Chief Executive Officer of QIAGEN. “We have made significant progress in 2019 on advancing our portfolio of differentiated Sample to Insight solutions and are looking forward to delivering on its value.”

“We are well positioned to achieve our goals for full-year sales growth, and to deliver faster growth particularly in the second half of 2019 given the success of our growth initiatives as well as the soon anticipated U.S. approval of the QIAstat-Dx system for multiplex syndromic testing. Our QuantiFERON latent TB test grew in line with the 2019 sales target range in the first quarter of 2019, and we announced additional automation options for this important contributor in the global fight against tuberculosis. We also expanded our portfolio of solutions for next-generation sequencing, which remains on track to achieve $190 million of sales in 2019 compared to $140 million in 2018, with the launch of new liquid biopsy and gene panels integrated with QIAGEN bioinformatics solutions. The launch of two new fully integrated molecular testing solutions – QIAstat-Dx and NeuMoDx for integrated molecular laboratory testing – are progressing well in Europe, are receiving a very positive acceptance and we are ready to capture share gains and growth opportunities in their very large target markets. Our teams are developing a broad range of tests to further expand the utility of these novel systems. In Precision Medicine, we are pleased by the breakthrough U.S. regulatory approval for a new therascreen companion diagnostic that tests for variants of the biomarker FGFR to help guide treatment decisions for patients with urothelial cancer. We are moving ahead with the transformation of QIAGEN and are continuing to execute on a strategy to maximize the value of this differentiated portfolio of molecular testing solutions along the continuum from Life Sciences research to Molecular Diagnostics.”

Download the full press release incl. financial tables here (PDF)

View source version on businesswire.com: https://www.businesswire.com/news/home/20190506005706/en/