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Benzinga

Business

Vandana Singh

Quidel Expects Q1 Revenues To More Than Double On Higher COVID-19 Test Sales

Quidel Nasdaq QDEL

Quidel Corp (NASDAQ:QDEL) expects Q1 FY22 sales of $990 million - $1 billion, up 164% - 166% Y/Y, beating the consensus of $817.30 million.

The company expects COVID-19 product revenues of $836 million, including approximately $657 million in QuickVue COVID-19 test revenue and roughly $138 million in Sofia SARS antigen test revenue.
"In the first quarter of 2022, we sold approximately 113 million QuickVue COVID-19 antigen tests and about 12 million Sofia SARS antigen tests," said Douglas Bryant, President, and CEO.
Also Read: Quidel's Q4 Earnings Beat Street View Despite 21% Decline In Sales.
"We also expanded our installed base of Sofia analyzers to 79,000 instrument placements, which further widens our point-of-care footprint and increases opportunities to introduce our full portfolio of assays to patients and healthcare providers," Bryant added.
Price Action: QDEL shares closed 0.39% higher at $118.10 during after-hours trading on Thursday.

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