Quidel: 4Q Earnings Snapshot

SAN DIEGO (AP) _ Quidel Corp. (QDEL) on Wednesday reported fourth-quarter net income of $32.5 million, after reporting a loss in the same period a year earlier.

The San Diego-based company said it had net income of 78 cents per share. Earnings, adjusted for one-time gains and costs, were 80 cents per share.

The results surpassed Wall Street expectations. The average estimate of four analysts surveyed by Zacks Investment Research was for earnings of 62 cents per share.

The medical diagnostics company posted revenue of $132.6 million in the period, also surpassing Street forecasts. Three analysts surveyed by Zacks expected $132.2 million.

For the year, the company reported net income of $74.2 million, or $1.86 per share, swinging to a profit in the period. Revenue was reported as $522.3 million.

Quidel shares have risen 25 percent since the beginning of the year. In the final minutes of trading on Wednesday, shares hit $61.13, a rise of 38 percent in the last 12 months.

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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on QDEL at https://www.zacks.com/ap/QDEL