Quidel has reported total revenue of $56.2m, an increase of 76% from $31.9m, for third quarter of fiscal year ended September 30, 2009. During the quarter the company has entered into a joint development and commercialization agreement with BioHelix corporation.
Reportedly, earnings per diluted share increased to $0.50 from $0.15 for the comparable period prior year, an increase of 233%. Income from operations in the third quarter was $24.3m compared to $7.4m for the same period in the previous year, an increase of 230%.
Total International revenues increased by 221% to $10.6m compared to the third quarter for the previous year. Sales of infectious disease products increased by 91% to $47.0m in the quarter compared to the prior year led by sales of the company’s QuickVue Influenza products.
The company has experienced an increase in the number of new influenza test users and a high volume of reorders by physician office labs and hospitals in response to unprecedented levels of patient visits for influenza-like-illness. Net income for the third quarter was $14.9m, compared to $4.7m for the same period previous year.
Total revenues increased 3% to $97.7m for the nine-month period ended September 30, 2009 from $94.6m for the same period in the prior year. Diluted earnings per share were $0.42 compared to $0.39 for the same period of the prior year.
Douglas Bryant, president and chief executive officer of Quidel, said: “Our record quarterly results during this last period were fueled by exceptional global demand for our QuickVue influenza tests as clinicians in the physician office and hospital settings continue to recognize the utility of rapid influenza testing. In addition, sales of our strep and pregnancy product lines increased in the third quarter versus the prior year and our shipments are now tracking more consistently with end user demand.”