QIAGEN (QGEN) Beats On Earnings & Sales In Q2, Raises View
Zacks Investment Research | Jul 27, 2017 09:46PM ET
QIAGEN N.V. (NASDAQ:QGEN) reported second-quarter 2017 adjusted earnings per share (considering restructuring expenses as one time item) of 30 cents, up 25% year over year. The reported figure beat the Zacks Consensus Estimate by a penny.
At constant exchange rate or CER, the company reported adjusted earnings per share (EPS) of 25 cents, which failed to meet the company’s guidance of 27–28 cents at CER.
Considering one-time items, QIAGEN’s reported EPS in the quarter was 6 cents, down 33.3% year over year.
Revenues in Detail
Net sales at actual rates in the first quarter grew 4% on a year-over-year basis to $349.0 million (up 6% at CER). The top line surpassed the Zacks Consensus Estimate of $347.0 million. Adverse currency translation impacted the top line by 2%.
Meanwhile, considering the acquisitions of OmicSoft in January, revenues increased 5%. Adverse currency translation impacted the top line by 2%.
Organic expansion drove 4% of total CER growth. Also, the company faced no headwinds from U.S. HPV test sales in the reported quarter. Moreover, 3% of the total CER growth came from the Jun 2016 acquisition of Exiqon A/S and to a lesser extent from the OmicSoft buyout.
Region-wise, sales from the Americas (47% of revenues) grew 4% at CER, while revenues from Europe-Middle East-Africa (32%) and Asia-Pacific/Japan (21%) increased 8% and 12%, respectively, at CER. Sales in the top seven emerging markets (17%) exhibited growth of 12% year over year at CER in the quarter.
Qiagen N.V. Price, Consensus and EPS Surprise
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