Stock Monitor: National Research Post Earnings Reporting
LONDON, UK / ACCESSWIRE / February 16, 2018 / Active-Investors.com has just released a free earnings report on QIAGEN N.V. (NYSE: QGEN). If you want access to this report all you need to do is sign up now by clicking the following link www.active-investors.com/registration-sg/'symbol=QGEN. QIAGEN reported its fourth quarter and fiscal 2017 operating and financial results on January 31, 2018. The diagnostic product's maker outperformed top- and bottom-line expectations and provided guidance for the full year 2018. Register today and get access to over 1,000 Free Research Reports by joining our site below:
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Active-Investors.com is focused on giving you timely information and the inside line on companies that matter to you. This morning, QIAGEN most recent news is on our radar and our team decided to put out a fantastic report on the company that is now available for free below:
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Earnings Highlights and Summary
Net sales rose 8% to $396.9 million in Q4 2017 compared to net sales of $366.5 million in Q4 2016, representing 5% constant exchange rate (CER) growth, aided by approximately three percentage points due to positive currency movements against the US dollar. The Company's adjusted net sales including all revenues from the acquisition of OmicSoft (January 2017) rose 6% CER on a y-o-y basis. QIAGEN's reported numbers exceeded analysts' expectations of $394.5 million.
During Q4 2017, QIAGEN's operating income was $43.4 million compared to $4.2 million in Q4 2016. The Company's reported quarter results included a pre-tax charge of $31.5 million for the settlement of US litigations, while the year-ago same period included a pre-tax restructuring charge of $68.2 million taken for the efficiency program initiated in 2016. QIAGEN's adjusted operating income grew 8% to $121.7 million in Q4 2017 from $112.7 million in Q4 2016.
Net loss attributable to QIAGEN was $39.7 million, or $0.18 per share, in Q4 2017 compared to net income of $8.6 million, or $0.04 per share, in Q4 2016. The Company's reported quarter results included an after-tax charge of $0.45 per share primarily as a consequence of the new US tax legislation. QIAGEN's adjusted net income was $100.1 million, or $0.43 per share, in Q4 2017 compared to $93.5 million, or $0.39 per share, in Q4 2016. The Company's earnings beat Wall Street's estimates of $0.42 per share.
For full year (FY) 2017, QIAGEN's net sales grew 6% to $1.42 billion compared to $1.34 billion in FY16, while adjusted net sales including the OmicSoft acquisition also rose 6% CER to $1.42 billion.
For FY17, net income attributable to QIAGEN was $40.4 million, or $0.17 per share, compared to $80.4 million, or $0.34 per share, in FY 2016. FY17 results included the after-tax charge of $104.4 million primarily for the revaluation of deferred taxes and other tax provisions. The Company's adjusted net income was $295.3 million, or $1.27 per share, for FY17, an increase from $264.8 million, or $1.11 per share, for FY16.
Balance sheet and cash flows
On December 31, 2017, QIAGEN's cash and cash equivalents increased to $657.7 million from $439.2 million at December 31, 2016.
The Company's net cash provided by operating activities was $286.8 million in FY17, down from $341.6 million in FY16, with FY17 results impacted by $41 million in litigation settlements and $48.0 million in restructuring payments. QIAGEN's free cash flow for FY17 was $196.7 million, down from $267.1 million in FY16.
QIAGEN announced a new commitment to return $200 million to shareholders via open-market repurchases. Shares will be repurchased on the Frankfurt Stock Exchange.
Outlook
For full-year 2018, QIAGEN is forecasting organic net sales growth to be approximately 6% to 7% on CER and total adjusted net sales growth of around 6% to 7% on CER is expected.
For full-year 2018, QIAGEN expects underlying growth in adjusted EPS to approximately $1.38 to $1.40 CER. The Company is estimating underlying growth in adjusted EPS to be reduced to approximately $1.31 to 1.33 CER due to dilution of about $0.03 CER due to US tax reform and an adjusted tax rate of about 20% to 21% for FY18, anticipated dilution of about $0.05 per share for commercialization and development of the QIAstat-Dx system, and accretion of approximately $0.01 per share from the $200 million share repurchase plan.
Stock Performance Snapshot
February 15, 2018 - At Thursday's closing bell, QIAGEN's stock rose 2.33%, ending the trading session at $33.80.
Volume traded for the day: 803.87 thousand shares.
Stock performance in the last month - up 2.77%; previous three-month period - up 9.56%; past twelve-month period - up 16.67%; and year-to-date - up 9.28%
After yesterday's close, QIAGEN's market cap was at $7.83 billion.
Price to Earnings (P/E) ratio was at 86.89.
The stock is part of the Services sector, categorized under the Research Services industry. This sector was up 0.9% at the end of the session.
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