(RTTNews) - Monday, sample and assay technologies provider Qiagen NV (QGEN: News ) reported a 81% rise in profit for the third quarter, on a 13% growth in sales and strong operating margins. Earnings for the quarter, as well as revenues came in above analysts' expectations. The company narrowed its full year adjusted earnings view towards higher end of its prior estimate.

The Venlo, the Netherlands-based company's net income attributable to its shareholders surged 81% to US$37.69 million from US$20.79 million in the same quarter last year. Earnings per share for the third quarter increased 80% to US$0.18 in 2009 from US$0.10 in the year earlier period.

Excluding total adjustments of $15.82 million or $0.08 per share for the recent quarter, adjusted net income increased 26% to US$53.51 million from US$42.36 million for the year earlier period. Adjusted earnings per share rose 24% to US$0.26 from US$0.21 a year-ago.

Analysts polled by Thomson Reuters expected the company to report earnings of US$0.23 per share for the quarter. Analysts' estimates typically exclude special items.

The adjustments for the recent quarter include, purchased intangibles amortization expense of US$11.42 million or US$0.06 per share and costs related to acquisition of DxS Ltd. of US$4.12 million or US$0.02 per share.
Quarterly net sales for the quarter was US$259.66 million, up 13% from US$230.80 million in the same quarter a year-ago. Excluding the unfavorable impact from foreign currency exchange rates, net sales for the third quarter 2009 would have increased 16%. Analyst estimated revenues of US$256.88 million for the quarter.

In the sequentially preceding second quarter, the company's net income attributable to the company increased to US$30.93 million or US$0.15 per share from US$23.22 million or US$0.11 per share in the previous year second quarter. On an adjusted basis, second quarter net income was US$48.26 million or US$0.24 per share, compared to US$40.40 million or US$0.20 per share in the prior year second quarter. Net sales for the second quarter had increased to US$240.16 million from US$217.89 million for the same quarter last year.

Commenting on the third quarter performance, Peer Schatz, QIAGEN's Chief Executive Officer said, "We saw strong growth in revenues, operating margins and adjusted net income -- all of which exceeded our guidance. In addition, our organic revenue growth came in very strong at 15%."

"Revenue growth was highest in sales to customers in molecular diagnostics (approximately 50% of total revenues) followed by sales to customers in pharma (approximately 21% of total revenues), in applied testing (approximately 6% of total revenues) and in academia (approximately 23% of total revenues)," Schatz added.

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