QIAGEN Reports Full Results for Second Quarter and First Half Of 2020

QIAGEN N.V. (NYSE: QGEN; Frankfurt Prime Standard: QIA) announced full results of operations for the second quarter and first half of 2020, with net sales and adjusted earnings per share (EPS) in line with the preliminary results announced on July 9, 2020, and July 13, 2020. Net sales for the second quarter of 2020 grew 16% over the second quarter of 2019 (+19% at constant exchange rates, or CER), and adjusted earnings per share were $0.56 CER (+70% CER) for the quarter.

"The unprecedented demand for products used in coronavirus testing is driving QIAGEN's performance in 2020. Our employees around the world are fully mobilized to serve all of our customers in the public health response to the pandemic throughout the world," said Thierry Bernard, Chief Executive Officer of QIAGEN N.V. "Sales of testing solutions for the novel coronavirus were strong across all regions in the first half of 2020, for research in the Life Sciences and among Molecular Diagnostics customers for use in identifying patients with COVID-19. Demand for QuantiFERON-TB and other applications was reduced as the pandemic continues to curtail demand for non-COVID-19 healthcare and research activity."

Mr. Bernard continued: "We recently reached an amended business combination agreement with Thermo Fisher Scientific Inc., increasing the tender offer price for QIAGEN shares to ?43.00. QIAGEN's Supervisory Board and Managing Board reaffirmed their unanimous support for the offer and their unanimous recommendation that QIAGEN shareholders accept and tender all of their QIAGEN shares in the offer prior to the end of the acceptance period, which has been extended to August 10, 2020. We look forward to working closely with Thermo Fisher to successfully complete this transaction."

Roland Sackers, Chief Financial Officer of QIAGEN N.V., added: "QIAGEN's swift response in scaling up production capacity for testing solutions to help fight the pandemic supported the double-digit sales growth in the second quarter. The coronavirus pandemic also had an impact on our business environment, reducing operating costs such as marketing and travel, and therefore resulting in an improvement of adjusted operating income margin and free cash flow."

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