Diagnostics firm Qiagen reports rise in third-quarter revenue
06/11/2024 21:32
Nov 6 (Reuters) - Qiagen QIA.DE reported a rise in
third-quarter revenue on Wednesday, owing to strong sales of its
diagnostic devices.
The company's third-quarter net sales rose 6% to $502
million at constant exchanges rates (CER), which was above its
forecast of at least $495 million CER.
Diagnostics firm Qiagen said the sales growth was driven in
part by its diagnostic testing devices QuantiFERON and
QIAstat-Dx.
The company also said it is reaffirming its 2024 sales
forecast of at least $1.99 billion CER, "based on the solid core
business performance in the first nine months of the year."
It also raised its annual adjusted profit forecast to at
least $2.19 CER from $2.10 CER.
"We are implementing initiatives to simplify Qiagen and
increase efficiency, and these initiatives are putting us on
track to increase our adjusted operating income margin above 31%
by the end of 2028, reaffirming our commitment to solid
profitable growth," CFO Roland Sackers said in a statement.
In June, Qiagen issued a goal for adjusted operating income
margin of at least 31% in 2028, up from 26.9% in 2023, by
winding down unprofitable products and simplifying the
organization.
On an adjusted basis, Qiagen reported third-quarter profit
of 58 cents per share at CER.
(Reporting by Sneha S K in Bengaluru; editing by Alan Barona)
((Sneha.SK@thomsonreuters.com))