financial results

The company's point-of-care revenues were down 16 percent, while its clinical lab revenues retreated 6 percent.

Qiagen also announced plans to launch a new $100 million share repurchase program after completing its current $200 million share repurchase commitment.

The firm said that it placed about 50 sample-to-answer molecular systems under contract during Q1, and it had about 625 active sample-to-answer product customers.

Its product revenues were up 30 percent year over year, but research revenues decreased 89 percent. The firm posted $329,000 in grant contribution revenues.

Its CEO Bernd Montag said that measures taken to ensure a successful market launch of the Atellica Solution showed an impact in the second quarter.

Within diagnostics, molecular revenues were up 11 percent year over year to $167.8 million. The firm received two new CE marks for early infant diagnosis and testing dried blood spots.

The company missed the consensus Wall Street estimates on both the top and bottom lines, while its R&D spending and SG&A costs grew significantly.

It placed 39 net new ePlex analyzers, expanding the global installed base to 393 placements and growing its installed base by 72 percent compared to the prior-year period.

The firm reported that test volumes for its Cologuard colorectal cancer screening test also rose 79 percent year over year.