QUIDEL PLEASED WITH 3RD QUARTER
Quidel Corporation, which merged a year ago with Monoclonal Antibodies, made sales in the third quarter ending December 31, 1991, of $6.7 million, and net income of $312 million. Earnings per share for the quarter were flat at 2 cents.
Sales for the quarter fell 0.6%, and net income was down 1.6%. However, Mark Francois, Quidel's investor relations manager, told the Marketletter that despite the relatively flat results, when analyzed on a quarter by quarter basis, he points out that sales have grown from $5.9 million for the quarter ended September 30, 1991, to $6.7 million in the latest quarter.
Furthermore, net income applicable to common shareholders has shown increases in the last three consecutive quarters, pointed out Mr Francois. At June 30, 1991 net income was $19 million, at September 30 it was $141 million, and in the latest quarter it was $285 million.
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