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Author: Lems Three stars, 500 posts Old School Fool Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: of 208  
Subject: Earnings Date: 10/29/2001 4:58 PM
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QIAGEN N.V.
                 CONDENSED CONSOLIDATED STATEMENTS OF INCOME
                                 (unaudited)

                                                      Three months
                                                   ended September 30,
                                                  2001               2000
    Net sales                                  $63,343,000        $54,661,000
    Cost of sales                               19,970,000         15,451,000
      Gross profit                              43,373,000         39,210,000

    Operating Expenses:
      Research and development                   6,125,000          5,902,000
      Sales and marketing                       17,288,000         13,751,000
      General and administrative                 9,879,000          7,738,000
    Total operating expenses                    33,292,000         27,391,000

    Income from operations                      10,081,000         11,819,000

    Other Income (Expense):
      Interest income                              346,000            879,000
      Interest expense                            (213,000)          (435,000)
      Research and development grants              419,000            511,000
      Gain (loss) on foreign currency
       transactions                               (590,000)            26,000
      Loss from equity method investee            (177,000)          (328,000)
      Other miscellaneous income
       (expense), net                               33,000           (226,000)
    Total other income (expense)                  (182,000)           427,000

      Income before provision for income
       taxes and minority interest               9,899,000         12,246,000
      Provision for income taxes                 3,706,000          5,018,000
      Minority interest                                 --             73,000
      Net income                                $6,193,000         $7,155,000

      Weighted average number of diluted
       common shares                           144,916,000        145,217,000

      Diluted net income per common share            $0.04              $0.05

                                 QIAGEN N.V.
                 CONDENSED CONSOLIDATED STATEMENTS OF INCOME
                                 (unaudited)

                                                       Nine months
                                                    ended September 30,
                                                  2001               2000
    Net sales                                 $192,537,000       $158,196,000
    Cost of sales                               57,533,000         46,780,000
      Gross profit                             135,004,000        111,416,000

    Operating Expenses:
      Research and development                  19,825,000         18,118,000
      Sales and marketing                       47,805,000         38,787,000
      General and administrative                28,025,000         23,798,000
      Acquisition costs                          3,000,000          5,353,000
    Total operating expenses                    98,655,000         86,056,000

    Income from operations                      36,349,000         25,360,000

    Other Income (Expense):
      Interest income                            1,575,000          2,165,000
      Interest expense                            (904,000)        (1,195,000)
      Research and development grants              836,000          1,147,000
      Gain (loss) on foreign currency
       transactions                               (264,000)            16,000
      Loss from equity method investee          (1,082,000)          (598,000)
      Other miscellaneous income, net            1,492,000            626,000
    Total other income                           1,653,000          2,161,000

      Income before provision for income
       taxes and minority interest              38,002,000         27,521,000
      Provision for income taxes                14,509,000         12,810,000
      Minority interest                              8,000             52,000
      Net income                               $23,485,000        $14,659,000

      Weighted average number of diluted
       common shares                           145,034,000        143,471,000

      Diluted net income per common share            $0.16              $0.10
      Diluted net income per common share
       excluding acquisition costs                   $0.18              $0.14

                                 QIAGEN N.V.
                    CONDENSED CONSOLIDATED BALANCE SHEETS
                                 (unaudited)

                                              September 30,      December 31,
                                                  2001              2000
    Assets

    Current Assets:
       Cash and cash equivalents               $11,297,000       $24,008,000
       Marketable securities                    23,282,000        37,307,000
       Notes receivable                          3,912,000         3,383,000
       Notes receivable, related party                  --           617,000
       Accounts receivable, net                 42,006,000        34,738,000
       Income taxes receivable                     627,000         1,779,000
       Inventories                              32,333,000        29,231,000
       Prepaid expenses and other               10,151,000         4,736,000
       Deferred income taxes                    14,431,000        11,866,000
            Total current assets               138,039,000       147,665,000

    Property, plant and equipment, net         136,310,000        73,156,000
    Long-term marketable securities              1,805,000         6,316,000
    Intangible assets, net                       5,915,000         7,136,000
    Other assets                                 7,592,000         6,620,000
       Total assets                           $289,661,000      $240,893,000

    Liabilities and Shareholders' Equity

    Current Liabilities:
       Lines of credit                          $4,393,000          $885,000
       Short-term debt                             908,000         6,382,000
       Current portion of long-term debt         1,163,000         1,071,000
       Current portion of capital lease
        obligations                              1,116,000         1,043,000
       Accounts payable                         16,615,000        18,668,000
       Accrued liabilities                      23,651,000        15,878,000
       Income taxes payable                      4,074,000         1,712,000
       Deferred income taxes                       381,000           499,000
            Total current liabilities           52,301,000        46,138,000

    Long-Term Liabilities:
       Long-term debt, net of current
        portion                                 19,220,000        11,552,000
       Capital lease obligations, net of
        current portion                         10,839,000        11,744,000
       Deferred income taxes                       549,000           549,000
       Other                                     8,565,000         3,361,000
            Total long-term liabilities         39,173,000        27,206,000

    Minority interest in consolidated
     subsidiaries                                       --           193,000

    Commitments and Contingencies

    Shareholders' Equity:
       Common shares, EUR .01 par value:
         Authorized -- 260,000,000 shares
         Issued and outstanding --
          143,124,919 shares
            in 2001 and 142,548,987
             shares in 2000                      1,455,000         1,450,000
         Additional paid-in-capital            117,550,000       103,448,000
         Retained earnings                      86,344,000        62,859,000
         Accumulated other comprehensive
          loss                                  (7,162,000)         (401,000)
            Total shareholders' equity         198,187,000       167,356,000

         Total liabilities and
          shareholders' equity                $289,661,000      $240,893,000

     Contacts:

     Peer M. Schatz                         Noonan Russo Communications
     Chief Financial Officer                Veronica Sellar
     QIAGEN N.V.                            +44 (0)20 7726 4452
     +49 (0)2103 29 11702                   Mary Claire Duch
     e-mail: p.schatz@de.QIAGEN.com         +1 (212) 696 4455

     Dr. Solveigh Mahler
     Manager Investor Relations
     QIAGEN N.V.
     +49 (0)2103 29 11710
     e-mail: s.maehler@de.QIAGEN.com

                    MAKE YOUR OPINION COUNT -  Click Here
               http://tbutton.prnewswire.com/prn/11690X41482841
SOURCE QIAGEN N.V. 
-0- 10/29/2001 
/CONTACT: Peer M. Schatz, Chief Financial Officer of QIAGEN N.V., +49 
-0-2103-29-11702, p.schatz@de.QIAGEN.com , 
or Dr. Solveigh Mahler, Manager Investor Relations of QIAGEN N.V., +49 
-0-2103-29-11710, s.maehler@de.QIAGEN.com ; or Veronica Sellar, +44 
/ 
(QGENF) 

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