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Biotech / Medical : QIAGEN (QGENF) - Star of Germany's Biotechs
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To: Michael Ohlendorf who wrote (2)11/21/1996 5:42:00 PM
From: (no name provided)   of 122
 
Michael

They just released their second quarter earnings a week ago. I forgot what the exact number was but I believe it was 0.09 which was in keeping with the analysts estimates. A careful look at the numbers shows however that there was a $500,000 tax credit (called a grant) from the German Government. If it were not for this credit, their core operation would have earned far less. I have not been able to find out if this will be a recurring credit or a one time gain. (If you could find out, I would greatly appreciate it).

The company is expanding into new markets rapidly which often results in higher expenses in the short term.

This is a biotech company, but not in the class of Amgen, Chiron, etc. They will not create billion dollar drugs. They are basically a supply company. Little barrier to entry from competitors. Highly competitive business. Look at the multiples currently being enjoyed by other biotech supply companies Life Technologies (LTEK) and Molecular Devices (MDCC). They are more in the range of 15-25 x earnings.

If QGENF misses the next quarter, it will fall VERY fast. If the analysts change their numbers, it will fall. If the VCs or insiders dump their stock, it will fall.

Good luck,

Kafka666

BTW: I prefer to remain anonymous because I have had nasty calls from companies when pointing out their potential problems.
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