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QIAGEN Q2 Profit Tops Estimates; Sales Up 16%

QIAGEN N.V. (QGEN) reported that its second quarter adjusted earnings per share increased to $0.55 ($0.56 CER), from $0.33, last year. On average, ten analysts polled by Thomson Reuters expected the company to report profit per share of $0.46, for the quarter. Analysts' estimates typically exclude special items.

Second quarter total net sales rose 16% to $443.3 million from $381.6 million, last year. Growth was 19% at constant exchange rates (CER). Analysts expected revenue of $425.82 million for the quarter.

"The unprecedented demand for products used in coronavirus testing is driving QIAGEN's performance in 2020," said Thierry Bernard, CEO of QIAGEN N.V.

QIAGEN Boards have reaffirmed unanimous recommendation that the company's shareholders accept Thermo Fisher Offer and tender their shares on or before August 10.

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