Quidel Corp. (NASDAQ:QDEL) delivered a profit 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. Shares are up 1%.
Quidel Corp. Earnings Cheat Sheet
Results: Adjusted Earnings Per Share increased to $0.49 in the quarter versus EPS of $0.00 in the year-earlier quarter.
Revenue: Rose 63.3% to $61.99 million from the year-earlier quarter.
Actual vs. Wall St. Expectations: Quidel Corp. reported adjusted EPS income of $0.49 per share. By that measure, the company beat the mean analyst estimate of $0.37. It missed the average revenue estimate of $62.63 million.
Quoting Management: “This year’s influenza season, which began earlier in the previous period, continued well into the first quarter. Demand for our respiratory products, including QuickVue, Sofia, Quidel Molecular and Diagnostic Hybrids, remained elevated through much of February until the percentage of patient visits attributable to influenza-like illness(ILI) fell as the epidemic ebbed,” said Douglas Bryant, president and CEO of Quidel Corporation. “In addition to strong financial performance in the quarter, we continued to execute our product development strategy, and are poised to launch an increasing number of new products in 2013.”
Key Stats (on next page)…
Revenue increased 14.95% from $53.93 million in the previous quarter. EPS increased 81.48% from $0.27 in the previous quarter.
Looking Forward: Analysts have a more negative outlook for the company’s next-quarter performance. Over the past three months, the average estimate for next quarter’s earnings has fallen from a loss of $0.09 to a loss $0.10. For the current year, the average estimate has moved down from a profit of $0.39 to a profit of $0.38 over the last ninety days.
Stocks with improving earnings metrics are worthy of your extra attention. In fact, “E = Earnings Are Increasing Quarter-Over-Quarter” is a core component of our CHEAT SHEET investing framework for this very reason. Don’t waste another minute – click here and get our CHEAT SHEET stock picks now.
(Company fundamentals provided by Xignite Financials. Email any earnings discrepancies to earnings [at] wallstcheatsheet.com)