Quidel Earnings: Here’s Why Investors Like These Results
Quidel Corp. (NASDAQ:QDEL) had a loss and missed Wall Street’s expectations, BUT beat the revenue expectation. The revenue beat is a positive sign to shareholders seeking high growth out of the company. Shares are down 2.71%.
Quidel Corp. Earnings Cheat Sheet
Results: Adjusted Earnings Per Share increased to $0,26 in the quarter versus EPS of $0.03 in the year-earlier quarter.
Revenue: Rose 40.48% to $53.93 million from the year-earlier quarter.
Actual vs. Wall St. Expectations: Quidel Corp. reported adjusted EPS loss of $0,26 per share. By that measure, the company missed the mean analyst estimate of $0.17. It beat the average revenue estimate of $53.26 million.
Quoting Management: “We were pleased with our ability to respond to the sudden increase in demand for our flu tests. While sales of QuickVue Influenza A+B benefited most, the Sofia, D3 Ultra, and Quidel Molecular PCR products were a contributor to the increase in revenues in the quarter as well,” said Douglas Bryant, president and chief executive officer. “More importantly, our product development teams achieved several key milestones during the period, and we are now poised to introduce a number of new products over the next several quarters,” added Bryant.
Key Stats (on next page)…
Revenue increased 63.42% from $33 million in the previous quarter. EPS increased to $0,26 in the quarter versus EPS of $-0.02 in the previous quarter.
Looking Forward: Analysts have a more positive outlook for the company’s next-quarter performance. Over the past three months, the average estimate for next quarter’s earnings has risen from a profit of $0.32 to a profit $0.34. For the current year, the average estimate has moved up from a loss of $0.02 to a profit of $0.06 over the last ninety days.
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(Company fundamentals provided by Xignite Financials. Email any earnings discrepancies to earnings [at] wallstcheatsheet.com)