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ots Ad hoc-Service: Qiagen N.V.
QIAGEN REPORTS STRONG GROWTH IN THE FIRS QUARTER 2000
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Venlo, The Netherlands, May 8, 2000- QIAGEN N.V. (Nasdaq: QGENF, Neuer Markt: QIA, 901626, Easdaq: QGEN) today announced financial results for its first quarter ended March 31, 2000.
The Company reported that consolidated net sales for its first quarter 2000 increased 24% to $42.2 million, from $34.0 million for the same period in 1999. Operating income for the first quarter 2000 increased 32% to $7.4 million from $5.6 million in the comparable period in 1999 and net income for the first quarter ended March 31, 2000 increased 38% to $5.2 million from $3.8 million in the same quarter of 1999. Diluted earnings per share increased to $0.15 (based on 35.3 million average shares outstanding) from $0.11 (based on 34.6 million average shares outstanding) in the comparable quarter of 1999.
Management of QIAGEN reported that the first quarter of 2000 was successful for the Company. Nucleic acid-based technologies in research, genomics, diagnostics and gene therapy showed exciting momentum. QIAGEN's technologies play a key role in these industries as applications of nucleic acids rely on the availability of tools for their separation and purification - tools for which QIAGEN is the recognized market and technology leader.
During the first quarter 2000, QIAGEN experienced growth in all of its product segments, added significant new technologies and introduced further new products addressing nucleic acid (DNA and RNA) extraction, purification, handling and amplification needs. One significant new product introduction was the launch of the QIAGEN BioRobot 8000 instrumentation product line. This product line offers a new dimension in high-end liquid handling needs and the automation of QIAGEN consumable technologies. Features of the instrument include an up to 5,000 samples a day unattended throughput and unique attributes targeting needs of customers in diagnostics and genomics industries.
In the first quarter of 2000, QIAGEN formed the wholly owned subsidiary QIAGEN Genomics, Inc. which focuses on developing and marketing genetic analysis tools for QIAGEN's customers in the genomics industry. A significant product development and marketing effort at QIAGEN Genomics, Inc. is based on the Rapigene technology portfolio which QIAGEN acquired in December 1999.
QIAGEN N.V., a Netherlands holding company with subsidiaries in Germany, the United States, Japan, the United Kingdom, Switzerland, France, Australia and Canada, believes it is the world's leading provider of innovative enabling technologies and products for the separation, purification and handling of nucleic acids. The Company has developed a comprehensive portfolio of more than 280 proprietary, consumable products for nucleic acid separation, purification and handling, nucleic acid amplification, as well as automated instrumentation and related services. QIAGEN's products are sold in more than 40 countries throughout the world to academic research markets and to leading pharmaceutical and biotechnology companies. In addition, the Company is positioning its products for sale into developing commercial markets, including DNA sequencing and genomics, nucleic acid-based molecular diagnostics, and genetic vaccination and gene therapy. QIAGEN employs approximately 1,000 people worldwide. Further information on QIAGEN can be found at www.qiagen.com.
Certain of the statements contained in this news release may be considered forward-looking statements within the meaning of Section 27A of the U.S. Securities Act of 1933, as amended, and Section 21E of the U.S. Securities Exchange Act of 1934, as amended. To the extent that any of the statements contained herein relating to QIAGEN's products and markets and operating results are forward-looking, such statements are based on current expectations that involve a number of uncertainties and risks. Such uncertainties and risks include, but are not limited to, risks associated with management of growth and international operations (including the effects of currency fluctuations), variability of operating results, the commercial development of the DNA sequencing and genomics market, nucleic acid-based moleculardiagnostics market, and genetic vaccination and gene therapy markets, competition, rapid or unexpected changes in technologies, fluctuations in demand for QIAGEN's products (including seasonal fluctuations), difficulties in successfully adapting the Company's products to integrated solutions and producing such products, and the Company's ability to identify and develop new products and to differentiate its products from competitors. For further information, refer to the discussion in reports that the Company has filed with the U.S. Securities and Exchange Commission (SEC).
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082213 Mai 00
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