Qiagen NV (NYSE:QGEN) Q4 2019 Earnings Conference Call - Final Transcript

Feb 05, 2020 • 09:00 am ET

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Qiagen NV (NYSE:QGEN) Q4 2019 Earnings Conference Call - Final Transcript

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Presentation
Operator
Operator

Ladies and gentlemen, thank you for standing by. I am Audrey, your PGI call operator. Welcome and thank you for joining QIAGEN's Q4 2019 Earnings Conference Call Webcast. At this time, all participants are in a listen-only mode. Please be advised that this call is being recorded at QIAGEN's request and will be made available on their Internet site. The presentation will be followed by a question-and-answer session. [Operator Instructions]

At this time, I would like to introduce your host, John Gilardi, Vice President of Corporate Communications and Investor Relations at QIAGEN. Please go ahead.

Executive
John Gilardi

Thank you, and welcome to our conference call today. The speakers today are Thierry Bernard, the interim CEO of QIAGEN and also Senior Vice President of our Molecular Diagnostics business; and Roland Sackers, Chief Financial Officer. Also joining us today is Phoebe Loh from the IR team. Please note that this call is being webcast live and will be archived on the Investors section of our website at www.qiagen.com. A copy of the press release is also available in the same section.

Before we begin, let me cover our safe harbor statement. The discussion and responses to your questions on this call reflect management's view as of today, Wednesday, February 5th, 2020. We will be making statements and providing responses to your questions that state our intentions, beliefs, expectations or predictions of the future. These constitute forward-looking statements for the purpose of the safe harbor provisions. These statements involve risks and uncertainties that could cause actual results to differ materially from those projected. QIAGEN disclaims any intention or obligation to revise any forward-looking statements. For more information, please refer to our filings with the US Securities and Exchange Commission.

Additionally, we will be referring to certain financial measures not prepared in accordance with Generally Accepted Accounting Principles. You can find a reconciliation of these figures to GAAP in the press release and the presentation for this call.

I will now turn over the call to Thierry.

Executive
Thierry Bernard

Thank you, John, and let me begin by welcoming all of you to our conference call. It's really a pleasure to be able to talk to you again after our last call in October of 2019. As you have seen yesterday afternoon, our performance for 2019 showed that QIAGEN exceeded the updated outlook that we had set for the fourth quarter sales growth and delivered on full year sales growth. And at the same time, we exceeded the target set for adjusted earnings.

As we go through this period of change at QIAGEN, we delivered on our commitments to you all, and we continue to focus on attractive growth opportunities across the continuum from Life Science to Molecular Diagnostic. At the same time, as we said also in our Q3 earnings call, we are realistic about our challenges that began in mid-2019, especially in the Asian markets, particularly China as well as the decline in revenues from companion diagnostic co-development due to the changes in our clinical NGS strategy announced