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Netherlands holding company reports increase in first quarter net sales.
2004 JUN 2 - (NewsRx.com & NewsRx.net) -- Qiagen N.V. (QGENF) announced the results of operations for its first quarter and three-month period ended March 31, 2004.
The company reported that consolidated net sales for its first quarter 2004 increased 21% to $96.1 million, from $79.6 million for the same period in 2003.
Operating income for the quarter, including restructuring and relocation charges increased 12% to $18.1 million from $16.1 million in the comparable period in 2003, and net income for the quarter increased 4% to $11.4 million from $11.0 million in the same quarter of 2003.
Diluted earnings per share remained unchanged at $0.08, based on 148.8 million average shares and share equivalents outstanding in 2004 and 146.1 million average shares and share equivalents outstanding in 2003.
Excluding the effect of restructuring and relocation charges, operating income increased 8% to $19.0 million from $17.7 million in the comparable period in 2003. Net income excluding these items increased 14% to $12.0 million from $10.5 million and diluted earnings per share increased 14% to $0.08 compared to $0.07 in 2003.
The reported consolidated net sales exceeded the company's projections and diluted earnings per share were in line with the company's guidance for the first ...
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