Quidel (Nasdaq: QDEL) reported earnings on April 23. Here are the numbers you need to know.

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

Compared to the prior-year quarter, revenue increased significantly. Non-GAAP earnings per share increased. GAAP earnings per share expanded.

Margins expanded across the board.

Revenue details
Quidel tallied revenue of $62.0 million. The eight analysts polled by S&P Capital IQ foresaw a top line of $62.6 million on the same basis. GAAP reported sales were 63% higher than the prior-year quarter's $38.0 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 $0.49. The six earnings estimates compiled by S&P Capital IQ predicted $0.46 per share. Non-GAAP EPS of $0.49 for Q1 were much higher than the prior-year quarter's $0.00 per share. GAAP EPS of $0.36 for Q1 were much higher than the prior-year quarter's $0.00 per share.

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 68.5%, 750 basis points better than the prior-year quarter. Operating margin was 27.7%, much better than the prior-year quarter. Net margin was 19.9%, much better than the prior-year quarter. (Margins calculated in GAAP terms.)

Looking ahead
Next quarter's average estimate for revenue is $33.7 million. On the bottom line, the average EPS estimate is -$0.01.

Next year's average estimate for revenue is $184.9 million. The average EPS estimate is $0.74.

Investor sentiment
The stock has a four-star rating (out of five) at Motley Fool CAPS, with 165 members out of 173 rating the stock outperform, and eight members rating it underperform. Among 42 CAPS All-Star picks (recommendations by the highest-ranked CAPS members), 40 give Quidel a green thumbs-up, and two 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 $25.14.

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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. The Motley Fool has no position in any of the stocks mentioned. 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.