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Quidel slips to USD 1.5m net loss in Q1 2014
24 April 2014 - 24 April 2014 - US diagnostic solutions developer Quidel Corp (NASDAQ:QDEL) said yesterday it moved to a first-quarter 2014 net loss of USD 1.5 million (EUR 1.1m) from a profit of USD 12.4 million a year ago, mainly due to weaker revenue and higher costs.

Revenue declined to USD 46.7 million from USD 62 million, as a result of decreased sales of infectious disease products due to a weak respiratory disease season. Total turnover from influenza products stood at USD 18.3 million, as a year-on-year drop in QuickVue Influenza product sales was offset to a certain extent by a 42% rise in Sofia Influenza revenue, which amounted to USD 6.2 million.

Total costs increased to USD 48.9 million in January-March 2014 from USD 44.8 million a year ago, chiefly owing to a change in the production volume and mix of products.

As a result, the firm recorded an operating loss of USD 2.2 million against a profit of 17.2 million in the first quarter of 2013.

(USD 1.0 = EUR 0.723)

 
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