Why Shares Of Qiagen Plunged Early Monday Morning

January 11, 2016 8:14 AM | 1 min read | Make a Comment
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Shares of
Qiagen NV
QGEN
, a company that provides Sample to Insight solutions that transforms biological samples into molecular insights, were trading lower by more than 11 percent at $22.56 early Monday. Qiagen
released on Monday morning preliminary fourth quarter and full-year 2015 results. The company said that it expects to earn $0.31 to $0.32 per share in the fourth quarter, falling short of the $0.33 per share Wall Street analysts were looking for. The company's full-year 2015 earnings per share outlook of $1.05 to $1.06 per share also fell short of the $1.07 per share analysts were expecting. Qiagen added for the full-year 2015 it expects net sales to have risen just 3 percent at a constant exchange rate, falling short of management's own prior guidance of 4 percent growth. The company noted that actual revenue declined around 5 percent to $1.280 billion due to about 8 percentage points of adverse currency movements. "Our anticipated results for the fourth quarter of 2015 are disappointing given the shortfall against our expectations for more improvements in adjusted net sales and adjusted earnings per share compared to the same period in 2014," said Peer M. Schatz, CEO of Qiagen. "This performance was hampered by factors that included volatility in the timing of revenues from the growing portfolio of companion diagnostic partnerships as well as lower revenues from instruments, even though we exceeded our target for new placements of QIAsymphony automation systems." Looking forward to 2016, Qiagen is anticipating a 6 percent growth in adjusted net sales at a constant exchange rate and for adjusted earnings per share to grow in-line with its sales.
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