Qiagen NV announced unaudited consolidated earnings results for fourth quarter and full year ended December 31, 2017. For the quarter, the company reported net sales of $396.863 million compared to $366.515 million a year ago. Income from operations was $43.372 million compared to $4.193 million a year ago. Loss before income taxes was $33.848 million compared to loss before income taxes of $13.991 million a year ago. Net loss attributable to the owners of company was $39.693 million compared to income of $8.623 million a year ago. Diluted net loss per common share attributable to the owners of company was $0.18 compared to income of $0.04 a year ago. Adjusted diluted net income per common share attributable to the owners of company was $0.43 compared to $0.39 a year ago. Adjusted net sales were $397.1 million compared to $366.5 million a year ago. Adjusted operating income was $121.7 million compared to $112.7 million a year ago. Adjusted pre-tax income was $120.2 million compared to $110.5 million a year ago. Adjusted net income was $100.1 million compared to $93.5 million a year ago. Net cash provided by operating activities was $76.1 million compared to $100 million a year ago. Purchases of property, plant and equipment was $25.5 million compared to $19.7 million a year ago. Free cash flow was $50.6 million compared to $80.3 million a year ago.

For the year, the company reported net sales of $1,417.536 million compared to $1,337.991 million a year ago. Income from operations was $153.419 million compared to $98.827 million a year ago. Income before income taxes was $114.375 million compared to $56.908 million a year ago. Net income attributable to the owners of company was $40.394 million compared to $80.404 million a year ago. Diluted net income per common share attributable to the owners of company was $0.17 compared to $0.34 a year ago. Adjusted diluted net income per common share attributable to the owners of company was $1.27 compared to $1.11 a year ago. Adjusted net sales were $1,419.4 million compared to $1,419.4 million a year ago. Adjusted operating income was $371.5 million compared to $324.7 million a year ago. Adjusted pre-tax income was $358.4 million compared to $315.3 million a year ago. Adjusted net income was $295.3 million compared to $264.8 million a year ago. Net cash provided by operating activities was $286.8 million compared to $341.6 million a year ago. Purchases of property, plant and equipment was $90.1 million compared to $74.5 million a year ago. Purchases of intangible assets were $34.324 million compared to $19.388 million a year ago. Free cash flow was $196.7 million compared to $267.1 million a year ago.

For full-year 2018, the company expects underlying growth in adjusted EPS to approximately $1.38-$1.40 CER, but this is expected to be reduced to about $1.31-1.33 CER due to three factors: (1) dilution of about $0.03 CER due to U.S. tax reform and an adjusted tax rate of about 20-21% for 2018, (2) anticipated dilution of about $0.05 per share for commercialization and development of the QIAstat-Dx system, and (3) accretion of about $0.01 per share from the $200 million share repurchase plan. Total 2018 adjusted net sales growth is expected to +~6%-7% CER. For full-year 2018, QIAGEN expects underlying growth in adjusted EPS to approximately $1.38-$1.40 CER, but this is expected to be reduced to about $1.31-1.33 CER due to three factors: (1) dilution of about $0.03 CER due to U.S. tax reform and an adjusted tax rate of about 20-21% for 2018, (2) anticipated dilution of about $0.05 per share for commercialization and development of the QIAstat-Dx system, and (3) accretion of about $0.01 per share from the $200 million share repurchase plan. Based on exchange rates as of January 30, 2018, currency movements against the U.S. dollar are expected to have a positive impact on 2018 net sales of about 3-4 percentage points, and a positive impact of about $0.02 per share on adjusted diluted EPS. These expectations do not take into account any further acquisitions that could be completed in 2018.

For first quarter of 2017, the company expects sales to rise +~5-6% CER, total adjusted net sales to be +~5% CER, underlying adjusted eps to be $0.24 cer to $0.25 cer and adjusted eps guidance to be $0.23 cer to $0.24 cer. Based on exchange rates as of January 30, 2018, currency movements against the U.S. dollar are expected to have a positive impact on net sales of about five percentage points in the first quarter of 2018, and a positive impact of about $0.01 per share on adjusted diluted EPS.