QIAGEN Expects Higher Results for Q2 2020 Based on Trends to Date and Suspends Outlook for Full-Year 2020

The possible consequences on QIAGENs production, supply chains and long-term demand cannot be reliably gauged.

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Provider: 
Business Wire, Inc.Business Wire, Inc.
Retrieved on: 
Tuesday, May 5, 2020
Information
Tags: 
Research, Technology, Genetics, Cardiology, Software, Biotechnology, Pharmaceutical, Health, Data management, Science, Medical software, Qiagen, QIA
Geotags: 
Netherlands, SWITZERLAND, Europe, Germany, Austria
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Organisation: 
QIAGEN
Summary
Key Points: 
  • The possible consequences on QIAGENs production, supply chains and long-term demand cannot be reliably gauged.
  • Consequently, QIAGEN has decided to suspend its outlook for the full-year 2020 at this time.
  • QIAGEN provides solutions to more than 500,000 customers around the world in Molecular Diagnostics (human healthcare) and Life Sciences (academia, pharma R&D and industrial applications, primarily forensics).
  • As of March 31, 2020, QIAGEN employed approximately 5,100 people in over 35 locations worldwide.


QIAGEN N.V. (NYSE:QGEN; Frankfurt Prime Standard:QIA) announces that, based on trends to date, it currently expects net sales growth of at least 12% at constant exchange rates (CER) and adjusted earnings per share (EPS) of at least $0.40 CER for the second quarter of 2020 compared to the same period in 2019.

Sales growth for the second quarter of 2020 is expected to be largely driven by the ongoing significant demand for various products and solutions used in coronavirus pandemic testing, and to more than offset lower sales in other areas of the portfolio affected by widespread quarantine and lockdown actions in several countries.

QIAGEN currently anticipates the growth trends from the first half of 2020 to continue for the full year, but cannot reliably predict to what extent this will occur due to uncertainties regarding the length and further spread of the coronavirus pandemic, as well as future measures being undertaken in various parts of the world to contain it. The possible consequences on QIAGEN’s production, supply chains and long-term demand cannot be reliably gauged. Consequently, QIAGEN has decided to suspend its outlook for the full-year 2020 at this time.

The full press release can be found here.

About QIAGEN

QIAGEN N.V., a Netherlands-based holding company, is the leading global provider of Sample to Insight solutions that enable customers to gain valuable molecular insights from samples containing the building blocks of life. Our sample technologies isolate and process DNA, RNA and proteins from blood, tissue and other materials. Assay technologies make these biomolecules visible and ready for analysis. Bioinformatics software and knowledge bases interpret data to report relevant, actionable insights. Automation solutions tie these together in seamless and cost-effective workflows. QIAGEN provides solutions to more than 500,000 customers around the world in Molecular Diagnostics (human healthcare) and Life Sciences (academia, pharma R&D and industrial applications, primarily forensics). As of March 31, 2020, QIAGEN employed approximately 5,100 people in over 35 locations worldwide. Further information can be found at http://www.qiagen.com.

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