Qiagen Earnings: Here’s Why Investors Don’t Like These Results

Qiagen NV (NASDAQ:QGEN) delivered a profit and beat Wall Street’s expectations, BUT came up short on beating the revenue expectation. The revenue miss is a negative sign to shareholders seeking high growth out of the company. Shares are down 0.48%.

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Qiagen NV Earnings Cheat Sheet

Results: Adjusted Earnings Per Share increased 4.55% to $0.23 in the quarter versus EPS of $0.22 in the year-earlier quarter.

Revenue: Rose 2.42% to $303.6 million from the year-earlier quarter.

Actual vs. Wall St. Expectations: Qiagen NV reported adjusted EPS income of $0.23 per share. By that measure, the company beat the mean analyst estimate of $0.22. It missed the average revenue estimate of $305.5 million.

Quoting Management: “Our results for the first quarter of 2013 show the ability of QIAGEN to grow amid challenging conditions. Our sales to customers in Molecular Diagnostics showed solid growth, and the improved performance was supported by Applied Testing and all regions delivering growth that more than compensated for soft conditions in Academia given government funding concerns in various markets and in particular sequestration in the United States,” said Peer M. Schatz, Chief Executive Officer of QIAGEN N.V. “Our portfolio of growth drivers – which include the QIAsymphony automation platform, the QuantiFERON-TB latent tuberculosis test and our Personalized Healthcare franchise – is building momentum and showed significant gains as Molecular Diagnostics delivered double-digit growth.”

Key Stats (on next page)…

Revenue decreased 12.39% from $346.53 million in the previous quarter. EPS decreased 28.13% from $0.32 in the previous quarter.

Looking Forward: Analysts have a neutral outlook for the company’s next-quarter performance. Over the past three months, the average estimate for next quarter’s earnings is a profit of $0.26 and has not changed. For the current year, the average estimate is a profit of $1.1, which is the same with that ninety days ago.

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(Company fundamentals provided by Xignite Financials. Email any earnings discrepancies to earnings [at] wallstcheatsheet.com)