Quidel Corp (NASDAQ: QDEL) reported Q2 EPS of $0.36, $0.12 better than the analyst estimate of $0.24. Revenue for the quarter came in at $103.2 million versus the consensus estimate of $103.11 million.

• Total revenue was $103.2 million as compared to $38.3 million in the second quarter of 2017.
• Cardiac Immunoassay revenue was $69.9 million.
• Influenza revenue was $5.5 million as compared to $10.1 million in the second quarter of 2017.
• Reduced debt by an additional $98.6 million through convertible note exchange and accelerated Senior Credit Facility debt payment.
• Reported GAAP EPS of $(0.08) per share in the second quarter of 2018, as compared to $(0.35) per share in the second quarter of 2017 and reported non-GAAP EPS of $0.36 per diluted share in the second quarter of 2018, as compared to $(0.12) per share in the second quarter of 2017.

“We delivered another successful quarter, marked by strong demand for our Cardiac Immunoassay products internationally and better-than-expected performance from our Cardiac business overall. As anticipated, demand for Respiratory Immunoassay products was lower as the Influenza season came to an end,” said Douglas Bryant, president and CEO of Quidel Corporation.

"Operationally, we achieved a number of milestones during the second quarter. First, we shipped our 10,000th Sofia 2 instrument, a testament to the demand for the new system and the power of the Sofia brand. Sofia 2 now accounts for about a third of all Sofia placements in the field. Second, integration of the acquired Triage businesses remains on track, highlighted by the grand opening of our shared service center in Galway, Ireland, which will support our customers and commercial teams across the EMEA region, allowing us to roll off transition service agreements in more than 30 countries and strengthen our international presence. Third, we further de-levered the business by retiring $38.6 million in debt through the exchange of convertible notes for shares, and by an accelerated payment of $60.0 million in cash on our Senior Credit Facility. We are optimistic as we enter the second half of the year and remain focused on delivering long-term growth and creating value for our shareholders.”

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