Quidel Posts 36 Percent Drop in Q1 Revenues on Weak Flu Season | GenomeWeb

NEW YORK (GenomeWeb News) – Quidel reported after the close of the market Wednesday that its first-quarter revenues fell 36 percent as a weak cold and flu season hit the firm's sales.

The San Diego-based diagnostics company reported total revenues of $38 million for the three-month period ended March 31, compared to $59.6 million for the first quarter of 2011. It fell short of Wall Street's consensus estimate of $40.3 million.

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