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