SAN DIEGO (AP) _ Quidel Corp. (QDEL) on Wednesday reported third-quarter net income of $16.2 million.
The San Diego-based company said it had net income of 38 cents per share. Earnings, adjusted for one-time gains and costs, came to 70 cents per share.
The results beat Wall Street expectations. The average estimate of four analysts surveyed by Zacks Investment Research was for earnings of 65 cents per share.
The medical diagnostics company posted revenue of $126.5 million in the period, also exceeding Street forecasts. Four analysts surveyed by Zacks expected $125.6 million.
Quidel shares have increased 20% since the beginning of the year. In the final minutes of trading on Wednesday, shares hit $58.46, a decrease of slightly more than 9% in the last 12 months.