Qiagen Q4 Results Top Estimates; Backs FY Outlook

(RTTNews) - Qiagen N.V. (QGEN) reported that its fourth-quarter net income surged to $212.69 million or $0.91 per share from $44.93 million or $0.19 per share in the prior year.

Adjusted earnings per share grew 42% year-over-year to $0.68.

Net sales in the fourth quarter rose 38% or 36% at constant exchange rates to $571.2 million from last year.

Analysts polled by Thomson Reuters expected the company to report earnings of $0.65 per share and revenues of $548.86 million for the fourth quarter. Analysts' estimates typically exclude special items.

The company reaffirmed its outlook for net sales growth of about 18-20% at CER and for adjusted earnings per share of about $2.42- $2.46 at CER for full-year 2021. Wall Street currently is looking for fiscal year 2021 earnings of $2.40 per share on annual revenues of $2.18 billion.