Quidel
The 10-second takeaway
For the quarter ended Sep. 30 (Q3), Quidel missed estimates on revenues and beat expectations on earnings per share.
Compared to the prior-year quarter, revenue was unchanged and GAAP loss per share shrank.
Gross margins shrank, operating margins dropped, net margins increased.
Revenue details
Quidel reported revenue of $33.0 million. The 10 analysts polled by S&P Capital IQ hoped for a top line of $35.8 million on the same basis. GAAP reported sales were 0.3% lower than the prior-year quarter's $33.1 million.
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 $0.08. The eight earnings estimates compiled by S&P Capital IQ predicted $0.05 per share. GAAP EPS were -$0.02 for Q3 versus -$0.03 per share for the prior-year quarter.
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 54.9%, 190 basis points worse than the prior-year quarter. Operating margin was -3.7%, 210 basis points worse than the prior-year quarter. Net margin was -2.0%, 140 basis points better than the prior-year quarter.
Looking ahead
Next quarter's average estimate for revenue is $44.8 million. On the bottom line, the average EPS estimate is $0.18.
Next year's average estimate for revenue is $149.1 million. The average EPS estimate is $0.33.
Investor sentiment
The stock has a five-star rating (out of five) at Motley Fool CAPS, with 170 members out of 178 rating the stock outperform, and eight members rating it underperform. Among 34 CAPS All-Star picks (recommendations by the highest-ranked CAPS members), 33 give Quidel a green thumbs-up, and one give 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 $18.86.
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