Quidel: 3Q Earnings Snapshot
SAN DIEGO (AP) _ Quidel Corp. (QDEL) on Tuesday reported third-quarter net income of $10.8 million, after reporting a loss in the same period a year earlier.
The San Diego-based company said it had net income of 27 cents per share. Earnings, adjusted for one-time gains and costs, came to 59 cents per share.
The results topped Wall Street expectations. The average estimate of four analysts surveyed by Zacks Investment Research was for earnings of 50 cents per share.
The medical diagnostics company posted revenue of $117.4 million in the period, missing Street forecasts. Four analysts surveyed by Zacks expected $120.7 million.
Quidel shares have increased 54 percent since the beginning of the year. In the final minutes of trading on Tuesday, shares hit $66.69, a climb of 72 percent in the last 12 months.