Quidel Earnings: Everything You Must Know Now

Quidel Corp. (NASDAQ:QDEL) had a loss and beat Wall Street’s expectations, BUT came up short on beating the revenue expectation. The revenue miss is a negative sign to shareholders seeking high growth out of the company.

Quidel Corp. Earnings Cheat Sheet

Results: Adjusted Earnings Per Share increased to $-0.06 in the quarter versus EPS of $-0.09 in the year-earlier quarter.

Revenue: Decreased 3.73% to $29.71 million from the year-earlier quarter.

Actual vs. Wall St. Expectations: Quidel Corp. reported adjusted EPS loss of $0.06 per share. By that measure, the company beat the mean analyst estimate of $-0.11. It missed the average revenue estimate of $33.24 million.

Quoting Management: “Revenues in the second quarter were relatively flat year-over-year. Gains in new product sales were offset by a lower prevalence of Group A Strep than we saw last April, and the timing of shipments to our U.S. distribution partners. During the quarter, we did achieve a number of significant regulatory and commercial milestones that will build the foundation for future revenue growth as we continue to work toward our 2015 revenue objectives,” said Douglas Bryant, president and CEO of Quidel Corporation. “We are seeing good traction on our recent commercial launch of AmpliVue, our handheld molecular product, and anticipate that our Sofia Group A Strep assay will be the next catalyst to drive Sofia placements in the near term.”

Key Stats (on next page)…

Revenue decreased 52.08% from $62 million in the previous quarter. EPS decreased to $-0.06 in the quarter versus EPS of $0.36 in the previous quarter.

Looking Forward: Analysts have a neutral outlook for the company’s next-quarter performance. Over the past three months, the average estimate for next quarter’s earnings is a loss of $0.05 and has not changed. For the current year, the average estimate has moved down from a profit of $0.37 to a profit of $0.36 over the last ninety days.

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(Company fundamentals provided by Xignite Financials. Email any earnings discrepancies to earnings [at] wallstcheatsheet.com)