Quidel Corp (QDEL) Tops Q1 EPS by 30c

Quidel Corp (NASDAQ: QDEL) reported Q1 EPS of $0.45, $0.30 better than the analyst estimate of $0.15. Revenue for the quarter came in at $73.69 million versus the consensus estimate of $62.02 million.

"The respiratory disease season was severe and lasted well into April, which was largely dominated by the circulation of a virulent H3N2 strain of influenza, which increased diagnostic test usage, and created a favorable competitive environment for our Sofia®, QuickVue® and Solana® brands. Commensurate with the robust flu season, Strep test utilization grew by 42% in the quarter, as our Virena data showed prolonged, elevated positivity rates nationwide, especially among the 0-6 year old and 6-12 year old cohorts," said Douglas Bryant, president and CEO of Quidel Corporation. "Our Sofia instrument placements increased by 50% from the first quarter of the prior year, while Solana instrument placements during that same time period more than doubled, which leaves us optimistic that these incremental placements will further drive test utilization in the near- to mid-term."

For earnings history and earnings-related data on Quidel Corp (QDEL) click here.

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