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Quidel Reports Preliminary 14 Percent to 15 Percent Q4 Revenue Growth

NEW YORK – Quidel said on Thursday after the close of the market that it expects fourth quarter 2019 revenues to be in the range of $151 million to $152 million.

The expected revenues would represent a 14 percent to 15 percent increase over the $132.6 million that the company reported in Q4 2018. On average, analysts are expecting revenues of $139.2 million in the recently completed quarter.

"Operationally, 2019 was notable in that we completed the integration of the Triage business, unlocked synergies ahead of schedule, and repaid our revolving credit facility, thereby meaningfully reducing our debt," Quidel President and CEO Douglas Bryant said in a statement.

He added that the company also executed well from a commercial standpoint, with more than 6,000 placements of its Sofia immunoassay system in 2019.

Quidel expects to issue full financial results for Q4 in February.