Key Developments For Qiagen N.V.
Qiagen N.V. (QGEN.O) (Nasdaq)
Qiagen N.V. Issues Q4 2009 Outlook; EPS Outlook Below Analysts' Estimates; Issues FY 2009 Revenue Outlook Above Analysts' Estimates-Conference Call
Qiagen N.V. announced that for the fourth quarter of 2009, it expects revenues between $250 and $260 million at guidance rate, which translates to $265 to $275 million using actual currency rates and adjusted earnings per share (EPS) to be between $0.21 and $0.22 based on January 31, 2009, exchange rates. For fiscal 2009, the Company expect to come in well above $1 billion in revenues under constant exchange rates. According to Reuters Estimates, analysts on an average were expecting the Company to report EPS of $0.24 on revenue of $270 million for the fourth quarter of 2009; revenue of $982 million for fiscal 2009.
Qiagen NV to Acquire SABiosciences
QIAGEN NV announced that it has signed a definite agreement to acquire SABiosciences Corporation, a privately-held developer and manufacturer of disease- and pathway-focused PCR assay panels. SABiosciences is based in Frederick, Maryland (USA), and employs a staff of around 100. The transaction is valued at USD 90 million in cash (subject to customary purchase price adjustments) and is expected to close in late December 2009, following approval of SABiosciences' stockholders and the expiration of the statutory waiting period under the Hart-Scott-Rodino Antitrust Improvements Act of 1976.
Qiagen N.V. Raises Lower End Of Prior FY 2009 EPS Outlook To A Range In Line With Analysts' Estimates
Qiagen N.V. announced that based on the first nine months and a positive outlook for the rest of 2009, the Company increased its expectations for adjusted diluted earnings per share (EPS) for the fiscal 2009 from the previous range of $0.86 to $0.90 to now between $0.88 and $0.90 based on foreign currency exchange rates as of January 31, 2009. According to Reuters Estimates, analysts were expecting the Company to report EPS of $0.90 for fiscal 2009.
Qiagen NV And British Veterinary Laboratories Agency Expand Partnership In Veterinary Testing
Qiagen NV announced an expansion of its strategic partnership with the United Kingdom`s Veterinary Laboratories Agency (VLA). Under the terms of the agreement, QIAGEN has received the exclusive rights to commercialize three new PCR-based tests for the detection of widespread bacterial diseases in horses. Financial details have not been disclosed. The new tests developed with and validated by the VLA target three different common bacterial infections: Streptococcus equi, Klebsiella pneumoniae and Pseudomonas aeruginosa.
Qiagen N.V. Announces Exercise In Full of Over-Allotment Option By Underwriters In Offering Of New Common Shares
Qiagen N.V. announced that the underwriters for its offering of 27.5 million newly issued common shares have exercised in full their over-allotment option to purchase 4,125,000 common shares and the Company will issue the additional shares at the price for the offering, as previously announced, of USD20.25 per share (EUR13.82). The exercise of the over-allotment option brings the total number of common shares to be sold by QIAGEN in the offering to 31,625,000. Gross proceeds of the offering are expected to be approximately USD640 million (EUR437 million). The Company plans to use the net proceeds of the Offering to fund the acquisition of DxS Ltd. announced on September 22, 2009 and potential future acquisitions, to strengthen its balance sheet and for general corporate purposes. Deutsche Bank, Goldman Sachs International and J.P. Morgan acted as Joint Global Coordinators and Joint Bookrunners of the offering.
