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ap

Quidel 3Q profit rises on flu test sales

Quidel reports 233 percent profit increase on third quarter flu test sales

  • On 3:57 pm EDT, Friday October 16, 2009

SAN DIEGO (AP) -- Medical diagnostics maker Quidel Corp. said Friday its third-quarter profit more than tripled on increased sales of its flu tests.

Chief Executive Douglas Bryant said the results "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."

Net income for the period ended Sept. 30 was $14.9 million, or 50 cents per share, compared to $4.7 million, 15 cents per share, in the same period last year.

Sales for the quarter increased 76 percent to $56.2 million from $31.9 million, led by the company's Quickvue Influenza testing products.

Company shares rose 48 cents to $16.02 in late trading Friday.

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