Qiagen Posts Q2 Loss

(RTTNews) - Qiagen NV (QGEN) Tuesday reported second-quarter net loss of $51.8 million or $0.22 per share, compared to net income of $33.3 million or $0.14 per share last year.

Adjusted net income for the quarter was $64.2 million or $0.27 per share, up from $60.8 million or $0.25 per share last year.

Net sales for the quarter grew to $315.2 million from $307.2 million last year. Adjusted net sales for the quarter of $316.4 million compared to $307.2 million last year.

Analysts polled by Thomson Reuters estimated earnings of $0.23 per share on revenues of $312.3 million for the quarter. Analysts' estimates typically exclude special items.

Qiagen said it intends to exercise the authorization granted by the Annual General Meeting of Shareholders on June 26, 2013, to purchase up to $100 million shares.

Looking forward, Qiagen expects adjusted net sales to grow about 5 percent on a constant currency basis and adjusted earnings of about $1.13 per share for the full year 2013.

Analysts currently estimate earnings of $1.05 per share on revenues of $1.30 billion for the year.

For the third quarter of 2013, Qiagen expects adjusted net sales to grow about 6 percent on a constant currency basis with adjusted earnings of about $0.27.

Analysts currently estimate earnings of $0.26 per share on revenues of $321.96 million for the quarter.