Quidel Whiffs on Revenues

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Quidel (NAS: QDEL) reported earnings on April 25. Here are the numbers you need to know.

The 10-second takeaway
For the quarter ended March 31 (Q1), Quidel whiffed on revenues and 0 on earnings per share.

Compared to the prior-year quarter, revenue dropped significantly and GAAP earnings per share dropped to zero.


Margins dropped across the board.

Revenue details
Quidel booked revenue of $38.0 million. The 10 analysts polled by S&P Capital IQ predicted revenue of $43.2 million on the same basis. GAAP reported sales were 36% lower than the prior-year quarter's $59.6 million.

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Source: S&P Capital IQ. Quarterly periods. Dollar amounts in millions. Non-GAAP figures may vary to maintain comparability with estimates.

EPS details
EPS came in at $0.00. The six earnings estimates compiled by S&P Capital IQ forecast $0.05 per share. GAAP EPS dropped to zero from the prior-year quarter's $0.35.

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Source: S&P Capital IQ. Quarterly periods. Non-GAAP figures may vary to maintain comparability with estimates.

Margin details
For the quarter, gross margin was 61.0%, 540 basis points worse than the prior-year quarter. Operating margin was 1.2%, 2,890 basis points worse than the prior-year quarter. Net margin was 0.1%, 1,910 basis points worse than the prior-year quarter.

Looking ahead
Next quarter's average estimate for revenue is $31.2 million. On the bottom line, the average EPS estimate is -$0.09.

Next year's average estimate for revenue is $154.0 million. The average EPS estimate is $0.09.

Investor sentiment
The stock has a five-star rating (out of five) at Motley Fool CAPS, with 176 members out of 184 rating the stock outperform, and eight members rating it underperform. Among 38 CAPS All-Star picks (recommendations by the highest-ranked CAPS members), 37 give Quidel a green thumbs-up, and one gives it a red thumbs-down.

Of Wall Street recommendations tracked by S&P Capital IQ, the average opinion on Quidel is outperform, with an average price target of $18.25.

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At the time this article was published Seth Jayson had no position in any company mentioned here at the time of publication. You can view his stock holdings here. He is co-advisor ofMotley Fool Hidden Gems, which provides new small-cap ideas every month, backed by a real-money portfolio. Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.

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