Qiagen beats Street, launches $100M repurchase plan
Qiagen N.V. (Xetra:QIA; NASDAQ:QGEN) reported 2Q14 financial results late Tuesday that beat the Street and launched a new $100 million share repurchase program. The sample and assay technology supplier reported 2Q14 adjusted diluted EPS of $0.26, above the Street's $0.25 estimate and up from $0.24 in 2Q13. Adjusted net sales in the quarter grew 4% at constant exchange rates to $331.2 million from $316.4 million in 2Q13 and beat the Street's $330.8 million expectation.
Qiagen reiterated its 2014 guidance of net sales growth of 4-5% at constant exchange rates over 2013 and adjusted diluted EPS of $1.07-$1.09. The company reported 2013 adjusted net sales of $1.3 billion. Qiagen also launched its third $100 million repurchase program after finishing its second $100 million program in June. The company announced the third program during its 1Q14 financial results in May (see BioCentury Extra, May 6). ...