QIAGEN NV announced the results of operations for its quarter ended March 31, 2010.

The company reported that consolidated net sales for its first quarter of 2010 increased 20% to $264.4 million from $220.9 million for the same quarter of 2009. Excluding the favorable impact from foreign currency exchange rates, net sales for the first quarter 2010 would have increased by 14% from the first quarter of 2009. Reported operating income for the quarter increased 21% to $44.7 million from $37.0 million in the same quarter of 2009, and net income for the quarter increased 34% to $33.0 million from $24.7 million in the same quarter of 2009. Diluted earnings per share for the first quarter increased 17% to $0.14 in 2010 (based on 241.9 million weighted average shares and share equivalents outstanding) from $0.12 in 2009 (based on 203.2 million weighted average shares and share equivalents outstanding).

On an adjusted basis, first quarter operating income increased 24% to $73.6 million in 2010 from $59.1 million in 2009, and first quarter adjusted net income increased 22% to $49.3 million in 2010 from $40.3 million in 2009. Adjusted diluted earnings per share were $0.20 in the first quarters of both, 2010 and 2009.

QIAGEN's first quarter 2010 results include the results of operations from the company's recent acquisitions, the most significant of which were SABiosciences Corp., acquired in December 2009, and DxS Ltd., acquired in September 2009. Reconciliations of reported results determined in accordance with generally accepted accounting principles (GAAP) to adjusted results are included in the tables accompanying this release.