QIAGEN N.V. (QGEN) has reported a marginal fall of a 0.50 percent in profit for the quarter ended Sep. 30, 2016. The company has earned $33.76 million, or $0.14 a share, compared with $33.93 million or $0.14 a share, a year ago. On the other hand, adjusted net income for the quarter stood at $68.20 million, or $0.29 a share compared with $63.20 million or $0.27 a share, a year ago.
Revenue during the quarter grew 7.67 percent to $338.68 million from $314.56 million in the previous year period. Gross margin for the quarter expanded 14 basis points over the previous year period to 65.20 percent. Total expenses were 86.13 percent of quarterly revenues, up from 85.32 percent for the same period last year. That has resulted in a contraction of 81 basis points in operating margin to 13.87 percent.
Operating income for the quarter was $46.97 million, compared with $46.17 million in the previous year period.
However, the adjusted operating income for the quarter stood at $86.80 million compared to $78.30 million in the prior year period. At the same time, adjusted operating margin improved 74 basis points in the quarter to 25.63 percent from 24.89 percent in the last year period.
“We are pleased with the strong results for the third quarter, and the first nine months of 2016. These show QIAGEN’s transformation is building momentum and a new sales growth trajectory is materializing. We are convinced these efforts to expand our leadership in molecular testing with a differentiated portfolio serving customers across the continuum from basic research to clinical healthcare will create significant value,” said Peer M. Schatz, Chief Executive Officer of QIAGEN N.V.
Operating cash flow improves marginally
QIAGEN N.V. has generated cash of $241.58 million from operating activities during the nine month period, up 4.70 percent or $10.84 million, when compared with the last year period.
The company has spent $163.25 million cash to meet investing activities during the nine month period as against cash outgo of $17.14 million in the last year period. It has incurred net capital expenditure of $67.52 million on net basis during the nine month period, down 17.67 percent or $14.49 million from year ago period.
The company has spent $15.83 million cash to carry out financing activities during the nine month period as against cash outgo of $262.22 million in the last year period.
Cash and cash equivalents stood at $354.65 million as on Sep. 30, 2016, up 7.16 percent or $23.69 million from $330.95 million on Sep. 30, 2015.
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