Quidel Corp (NASDAQ: QDEL) reported Q3 EPS of $0.59, $0.10 better than the analyst estimate of $0.49. Revenue for the quarter came in at $117.4 million versus the consensus estimate of $120.1 million.

• Total revenue was $117.4 million as compared to $50.9 million in the third quarter of 2017.
• Cardiac Immunoassay revenue was $65.3 million.
• Influenza revenue was $21.6 million as compared to $23.1 million in the third quarter of 2017.
• Reported GAAP EPS of $0.27 per diluted share in the third quarter of 2018, as compared to $(0.16) per share in the third quarter of 2017. Excluding the one-time costs associated with the loss on extinguishment of debt, diluted EPS was $0.30 for the third quarter of 2018. Reported non-GAAP EPS of $0.59 per diluted share in the third quarter of 2018, as compared to $0.17 per diluted share in the third quarter of 2017.
• Received FDA clearance and CLIA waiver for Sofia® 2 Lyme FIA from finger-stick whole blood specimens.
• Received FDA clearance for Solana® Bordetella Complete® molecular diagnostic assay for pertussis (whooping cough), parapertussis infections.

“We delivered another strong quarter, with continued commercial traction in the Cardiac Immunoassay product segment. In addition, integration of the acquired businesses is going well, and the programs to deliver operational synergies remain on track," said Douglas Bryant, president and CEO of Quidel Corporation. "We saw growth in Sofia and Molecular, and a 19% increase year-over-year in influenza outsales from distributors to our customers. As a result, inventories at distribution are low, which positions us nicely for Q4 influenza revenue in advance of the season. Importantly, we also launched our CLIA-waived Sofia 2 Lyme whole blood diagnostic assay. Although approval was received late in the Lyme season, the early indications from the market are positive, and we expect to build on that momentum going into the 2019 Lyme season. As we move into the fourth quarter, we are well positioned and remain focused on delivering long-term growth.”

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