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Strong Q2 prompts Qiagen guidance hike

This article was originally published in Clinica

Executive Summary

Dutch diagnostics firm Qiagen has raised its revenue and EPS guidance for fiscal 2009 after posting healthy second-quarter results. The company upped revenue expectations for the full year from $920-970m to $930-970m and EPS forecasts from $0.88-0.94 to $0.90-$0.94 per share. Venlo-based Qiagen said that robust market demand and solid economic trends within the diagnostic sector helped to boost sales. Revenue for the period was $240.2m, up 10% from Q2 2008. Increased sales of the firm’s HPV screening products, KRAS diagnostics and H1N1 tests helped grow the top line. Qiagen’s net income also benefited from the stronger sales and reached $48.3m compared to $40.4m in the same period last year.

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