qdel8k20image1a17.jpg
 
 
 
Quidel Contact:
 
Media and Investors Contact:
Quidel Corporation
 
Quidel Corporation
Randy Steward
 
Ruben Argueta
Chief Financial Officer
 
858.646.8023
858.552.7931
 
rargueta@quidel.com
 

QUIDEL REPORTS FOURTH QUARTER AND FULL YEAR 2019 FINANCIAL RESULTS
SAN DIEGO, CA – February 12, 2020 — Quidel Corporation (NASDAQ: QDEL), a provider of rapid diagnostic testing solutions, cellular-based virology assays and molecular diagnostic systems, announced today financial results for the fourth quarter and the year ended December 31, 2019.

Fourth Quarter 2019 Highlights
Total revenue increased 15% to $152.2 million, compared with $132.6 million in the fourth quarter of 2018.
Cardiac Immunoassay revenue increased 5% to $65.8 million.
Molecular Diagnostic Solutions revenue was $7.1 million, 21% growth from the fourth quarter of 2018.
Influenza revenue increased 44% to $50.3 million, compared with $34.9 million in the fourth quarter of 2018.
Reported GAAP EPS of $0.71 per diluted share in the fourth quarter of 2019, compared with $0.78 per diluted share in the fourth quarter of 2018.
Reported non-GAAP EPS of $1.00 per diluted share in the fourth quarter of 2019, compared with $0.81 per diluted share in the fourth quarter of 2018.
Paid off remaining balance of $8.2 million on the Revolving Credit Facility.

Full Year 2019 Highlights
Total revenue increased 2% to $534.9 million, compared with $522.3 million in 2018, and on a constant currency basis grew 3%.
Cardiac Immunoassay revenue totaled $266.5 million, and on a constant currency basis grew 2%.
Molecular Diagnostic Solutions revenue grew 12% from 2018 to $21.7 million.
Influenza revenue increased 10% to $139.9 million, compared with $126.7 million in 2018.
Reported GAAP EPS of $1.73 per diluted share in 2019, compared with $1.86 per diluted share in 2018.
Reported non-GAAP EPS of $2.97 per diluted share in 2019, compared with $3.06 per diluted share in 2018.
Reduced debt by $98.6 million.

Fourth Quarter 2019 Results
Total revenue for the fourth quarter of 2019 was $152.2 million, versus $132.6 million for the fourth quarter of 2018. The 15% increase in sales from the fourth quarter of 2018 was primarily driven by growth in the Rapid Immunoassay business, and to a lesser extent, by growth in all other major product categories: Cardiac Immunoassay, Molecular Diagnostic, and Specialized Diagnostic Solutions.

Rapid Immunoassay product revenue, which includes QuickVue, Sofia and Eye Health products, increased 29% in the fourth quarter of 2019 to $64.9 million, primarily due to a $13.8 million increase in Influenza revenue from the fourth quarter of 2018. Cardiac Immunoassay revenue, which includes revenue from the Triage and Beckman BNP products, totaled $65.8 million in the fourth quarter of 2019, a growth of 5% from the fourth quarter of 2018. Molecular Diagnostic Solutions revenue increased 21% to $7.1 million, led by 29% revenue growth from Solana, our instrumented molecular diagnostic system. Specialized Diagnostic Solutions revenue, which includes revenue from Virology/DHI, Specialty and Other, increased 7% from the fourth quarter of 2018 to $14.3 million.

“We had a superb ending to a good year, with the total business growing 15% in the quarter, largely driven by an early influenza season in which Flu B was the dominant circulating strain. As a result, increased testing through our Sofia and Solana



The following information was filed by Quidel Corp (QDEL) on Wednesday, February 12, 2020 as an 8K 2.02 statement, which is an earnings press release pertaining to results of operations and financial condition. It may be helpful to assess the quality of management by comparing the information in the press release to the information in the accompanying 10-K Annual Report statement of earnings and operation as management may choose to highlight particular information in the press release.

View differences made from one year to another to evaluate Quidel Corp's financial trajectory

Compare SEC Filings Year-over-Year (YoY) and Quarter-over-Quarter (QoQ)
Sample 10-K Year-over-Year (YoY) Comparison

Compare this 10-K Annual Report to its predecessor by reading our highlights to see what text and tables were  removed  ,   added    and   changed   by Quidel Corp.

Continue

Never Miss A New SEC Filing Again


Real-Time SEC Filing Notifications
Screenshot taken from Gmail for a new 10-K Annual Report
Last10K.com Member Feature

Receive an e-mail as soon as a company files an Annual Report, Quarterly Report or has new 8-K corporate news.

Continue

We Highlighted This SEC Filing For You


SEC Filing Sentiment Analysis - Bullish, Bearish, Neutral
Screenshot taken from Wynn's 2018 10-K Annual Report
Last10K.com Member Feature

Read positive and negative remarks made by management in their entirety without having to find them in a 10-K/Q.

Continue

Widen Your SEC Filing Reading Experience


Increased Reading Area for SEC Filings
Screenshot taken from Adobe Inc.'s 10-Q Quarterly Report
Last10K.com Member Feature

Remove data columns and navigations in order to see much more filing content and tables in one view

Continue

Uncover Actionable Information Inside SEC Filings


SEC Filing Disclosures
Screenshot taken from Lumber Liquidators 10-K Annual Report
Last10K.com Member Feature

Read both hidden opportunities and early signs of potential problems without having to find them in a 10-K/Q

Continue

Adobe PDF, Microsoft Word and Excel Downloads


Download Annual and Quarterly Reports as PDF, Word and Excel Documents
Screenshots of actual 10-K and 10-Q SEC Filings in PDF, Word and Excel formats
Last10K.com Member Feature

Export Annual and Quarterly Reports to Adobe PDF, Microsoft Word and Excel for offline viewing, annotations and analysis

Continue

FREE Financial Statements


Download Annual and Quarterly Reports as PDF, Word and Excel Documents
Screenshot of actual balance sheet from company 10-K Annual Report
Last10K.com Member Feature

Get one-click access to balance sheets, income, operations and cash flow statements without having to find them in Annual and Quarterly Reports

Continue for FREE

Log in with your credentials

or    

Forgot your details?

Create Account