Qiagen Q4 Profit Down

(RTTNews) - Qiagen N.V. (QGEN) Tuesday reported fourth-quarter net income of $44.9 million or $0.19 per share, down from $60.9 million or $0.26 per share last year.

Adjusted earnings for the quarter were $0.48 per share, up from $0.40 per share last year. Analysts polled by Thomson Reuters expected earnings of $0.44 per share for the quarter.

Fourth-quarter sales rose 3% to $413.5 million from $403.2 million last year. Analysts had a consensus revenue estimate of $408.58 million for the quarter.

"QIAGEN's performance for the fourth quarter and full-year 2019 delivered on the updated outlook we had set for sales growth, and exceeded the targets set for adjusted earnings," said Interim CEO Thierry Bernard.

Looking forward to full-year 2020, Qiagen expects net sales to grow about 3-4% and adjusted earnings of $1.52-1.54 per share. Analysts currently estimate earnings of $1.49 per share and revenues to grow 5.10%.

For the first quarter, net sales are expected to grow about 2-3% and adjusted earnings of $0.28-0.29 per share. Analysts currently estimate earnings of $0.28 per share and revenues growth of 2.60%.

"We are currently seeing an increase in global demand for instruments and consumables that can be used for infectious disease testing for the coronavirus, we remain cautious and have not included it in our outlook for 2020 given the uncertainties and disruptions to macro business trends in China at this time," Bernard said.