Qiagen NV (QGEN) Monday reported first-quarter net income of $20 million or $0.08 per share, compared to $28.6 million or $0.12 per share last year.
The company said results were impacted by higher amortization and business integration expenses.
Excluding items, adjusted earnings for the quarter were $54.7 million or $0.23 per share, compared to $54.8 million or $0.23 per share a year ago.
Qiagen povides sample and assay technologies. The Netherlands-based company posted quarterly revenues of $303.6 million, compared to $296.4 million a year ago.
Analysts polled by Thomson Reuters estimated earnings of $0.22 per share on revenues of $305.50 million for the quarter. Analysts' estimates typically exclude special items.
Looking ahead to fiscal year 2013, Qiagen expects reduced government funding to have an adverse impact of at least 1 percentage point on adjusted net sales growth, while the acquisition of Ingenuity is to provide adjusted net sales of about $15 million. The company now expects adjusted earnings of about $1.13 per share for 2013, which includes dilution of $0.03 per share from the Ingenuity acquisition. It expects adjusted net sales to grow about 5% at constant exchange rates (CER).
Earlier, Qiagen expected adjusted earnings of $1.16 to $1.18 per share and net sales to grow 5% to 6% CER in 2013
Analysts currently expect earnings of $1.10 per share on revenues of $1.32 billion for 2013.
For the second quarter, Qiagen expects adjusted earnings of about $0.25 per share and net sales to grow about 1% to 2% CER. Analysts currently expect earnings of $0.26 per share on revenues of $322.57 million.
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