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Quidel Expects Q4 Revenues Above Estimates

NEW YORK (GenomeWeb News) – Quidel today said that it expects to report fourth-quarter revenues of $53 million to $54 million.

That figure is well above Wall Street's consensus estimate for revenues of $43.8 million.

"We saw a sudden and early onset to this year's influenza season," Quidel President and CEO Douglas Bryant said in a statement. "I am pleased, however, with how well we were able to respond to the increased and rapid demand for our flu tests."

He added that in addition to its QuickVue Influenza A+B sales benefitting most from patient visits for influenza-like illness, the firm's Sofia Influenza A+B revenues also were a contributor, with Sofia analyzer placements exceeding internal projections.

In early Friday trade on the Nasdaq shares of Quidel were up 6 percent a $21.24.