SAN FRANCISCO (Thomson Financial) - Shares of Quidel Corp. fell late
Thursday after the company reported fourth-quarter results below analysts
expectations.
Net earnings for the quarter ended Dec. 31 fell to $8.1 million, or 25 cents
a share, from $18.3 million, or 54 cents a share, a year earlier.
The mean estimate of analysts polled by Thomson Financial was for a
per-share profit of 27 cents.
The San Diego-based provider of rapid diagnostic tests said revenue fell to
$38 million from $38.8 million a year ago, below the mean Wall Street estimate
of $44.8 million.
The company said the seven-week delay in the start of the influenza season
affected sales of a test for the virus.
The stock was trading down 10 cents at $18.24 at the closing bell and fell a
further 10% to $16.33 in after-hours trading.
Brigid Gaffikin
bg/kh
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