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Qiagen reports third quarter net sales increased 21%.

Vaccine Weekly

| December 18, 2002 | COPYRIGHT 2002 NewsRX. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan.  All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)Copyright

2002 DEC 18 - (NewsRx.com & NewsRx.net) -- Qiagen, N.V., (QGENF) announced the results of operations for its third quarter and 9-month period ended September 30, 2002.

The company reported that consolidated net sales for its third quarter increased 21% to $76.9 million, from $63.3 million for the same period in 2001.

Operating income increased 28% to $12.9 million from $10.1 million in the comparable period in 2001, net income increased 18% to $7.3 million from $6.2 million in the same quarter of 2001 and diluted earnings per share increased 25% to $0.05 (based on 146.0 million average shares and share equivalents outstanding) from $0.04 (based on 144.9 million average shares and share equivalents outstanding).

The reported consolidated net sales were higher than, and diluted earnings per share were in line with, the company's guidance for the third quarter as communicated on July 3, 2002.

For the 9-month period ended September 30, 2002, total reported net sales increased 14% to $220.2 million from $192.5 million in the comparable period of 2001. Excluding the effect of 1-time charges related to the acquisition of GenoVision, AS, during the second quarter 2002 as well as related to the acquisition of the SAWADY group during the first quarter of 2001 and a gain on the sale of a financial ...

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