Shares of Qiagen NV (Nasdaq:QGEN) were getting crushed after hours on Monday night, as the company reported earnings in the fourth quarter plummeted by 18 percent. Revenue also dropped, although adjusted profit was able to exceed company expectations. That was the result of booking higher charges a year ago in 2009.
More troubling for the company was its weak guidance, which said the results in the current quarter are expected "to be soft."
The good news is Qiagen said they are moving toward "substantially higher growth rates later in the year."
While Qiagen closed at $18.45, up $0.32, or 1.77 percent. In after hours trading they plunged $0.93, or 5.04 percent.
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