NEW YORK (GenomeWeb) – Quidel reported after the close of the market on Wednesday that its first quarter revenues decreased 18 percent year over year due to a delayed and weak influenza season.

For the three months ended March 31 revenues decreased to $50.3 million from $61.7 million in Q1 2015, but beat the average analysts' estimate of $49.2 million.

The San Diego-based firm said that total influenza revenues were down 40 percent versus the year-ago period to $20.1 million. This contributed to a 25 percent decrease in infectious disease product revenues.

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