The 10-second takeaway
For the quarter ended Dec. 31 (Q4), Quidel met expectations on revenues and beat expectations on earnings per share.
Compared to the prior-year quarter, revenue expanded significantly and GAAP earnings per share grew significantly.
Margins grew across the board.
Quidel reported revenue of $53.9 million. The eight analysts polled by S&P Capital IQ anticipated revenue of $53.4 million on the same basis. GAAP reported sales were 40% higher than the prior-year quarter's $38.4 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 $0.37. The seven earnings estimates compiled by S&P Capital IQ predicted $0.29 per share. GAAP EPS of $0.26 for Q4 were much higher than the prior-year quarter's $0.03 per share.
Source: S&P Capital IQ. Quarterly periods. Non-GAAP figures may vary to maintain comparability with estimates.
For the quarter, gross margin was 67.4%, 900 basis points better than the prior-year quarter. Operating margin was 26.2%, 1,950 basis points better than the prior-year quarter. Net margin was 16.2%, 1,370 basis points better than the prior-year quarter.
Next quarter's average estimate for revenue is $61.0 million. On the bottom line, the average EPS estimate is $0.40.
Next year's average estimate for revenue is $183.8 million. The average EPS estimate is $0.72.
The stock has a four-star rating (out of five) at Motley Fool CAPS, with 166 members out of 174 rating the stock outperform, and eight members rating it underperform. Among 45 CAPS All-Star picks (recommendations by the highest-ranked CAPS members), 44 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 $19.75.
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