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Sorry for the layout. Earnings are presented. Two stories (available on the Fool) for starters.

Martin

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Qiagen Q4 oper profit at upper end of expectations

Reuters

FRANKFURT, Feb 20 (Reuters) - Dutch-based biotech firmQiagen NV (NASDAQ: QGENF) said on Tuesday its fourth-quarteroperating profit climbed 34 percent to $11 million, at the upperend of analysts' expectations. The number was adjusted for costs linked with Qiagen's $12million takeover of Seattle-based biotech firm Rapigene.Fourth-quarter sales rose 29 percent to $55.8 million. Four analysts canvassed by Reuters provided a range of$7.0-11.3 million for Qiagen's fourth-quarter earnings beforeinterest and tax, with an average of $8.9 million. Qiagen posteda fourth-quarter EBIT of $2.4 million in 1999. The Reuters poll saw fourth quarter sales rising to $56.4million from $39.1 million, based on six analysts. Diluted fourth-quarter earnings per share climbed 25 percentto $0.05 and fourth-quarter net profit rose 10 percent to $6.6million.

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Qiagen dips on disappointing Q4 net

Reuters

By Steven Silber

FRANKFURT, Feb 20 (Reuters) - Dutch-based biotech firm Qiagen NV (NASDAQ: QGENF) on Tuesday unveiled afourth-quarter operating profit that beat expectations butdisappointing net results weighed on the stock. Qiagen, the Neuer Markt's largest biotech share, said itsfourth-quarter operating profit climbed 34 percent from a yearago to $11 million. The number was adjusted for the purchased research anddevelopment costs linked with Qiagen's $12 million takeover ofSeattle-based biotech firm Rapigene. Fourth-quarter sales rose29 percent on the year to $55.8 million. Diluted fourth-quarter earnings per share excluding theacquisition charge climbed 25 percent to $0.05 andfourth-quarter net profit rose 10 percent to $6.6 million. Among other factors, Qiagen said its tax bill for thequarter rose 72 percent to $4.9 million. Four analysts canvassed by Reuters provided a range of$7.0-11.3 million for Qiagen's fourth-quarter earnings beforeinterest and tax, with an average of $8.9 million. The poll sawfourth quarter sales at $56.4 million, based on six analysts. By around 1230 GMT, Qiagen shares were down 3.78 percent at33.10 euros compared with a 2.27 percent fall by the Neuer Marktbiotech index <.NMPA>. Early in the session, the stock sanknearly 11 percent to a low of 30.65 euros. "The stock is probably down because net profit fell slightlyshort," said Juri Jenkner, an analyst at Merck Finck & Co inMunich. 2000 SHARE SURGE The share surged to a high of 61.30 euros last July fromaround eight euros for much of 1999, and some observers said anydownside risk for the stock remained limited. "Their price/earnings ratio for 2001 is currently at 130,which I would say is a fair value for a good company such asQiagen. I think the stock will perform in line with the overallsector," said Roland Gilbert, fund manager at Frankfurt Trust. Qiagen, whose market capitalisation of around five billioneuros ($4.58 billion) makes it the largest listed biotech firmin Germany, said it expanded its market share in the quarter andfull-year 2000 but gave no precise figures. The company, which has been profitable since 1990, is theglobal leader in nucleic acid purification with a market shareof more than 15 percent. Nucleic acids -- DNA and RNA -- are thechemicals that transfer genetic information and make proteins. Qiagen is in the process of bolstering its genomics divisionin relation to its R&D segment, which accounted for some threequarters of 1999's group sales of $144 million. Its traditional products for research and development areplastic columns that allow the filtering of nucleic acids from asample such as blood. But Qiagen boosted its genomics division in recent yearsthrough the $110 million stock purchase of California-basedOperon Technologies and Rapigene, now called Qiagen Genomics. For full-year 2000, operating profit climbed 50 percent to$34.9 million while net profit increased 45 percent to $20.1million on a 29 percent sales rise to $204 million.Rtr 07:38 02-20-01//Begin Meta Data//Selector Code: reuco-end-

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