Quidel Posts Q3 Non-GAAP Loss Per Share Of $0.01 - Quick Facts

(RTTNews) - Quidel Corp. (QDEL) reported a third-quarter net loss of $5.8 million, or $0.17 per share, compared to net loss of $4.4 million, or $0.13 per share, for the third quarter of 2013. On a non-GAAP basis, excluding amortization of intangibles, stock compensation expense and certain non-recurring items, net loss for the third quarter of 2014 was $0.5 million, or $0.01 per share.

On average, seven analysts polled by Thomson Reuters expected the company to report a loss per share of $0.12 for the quarter. Analysts' estimates typically exclude special items.

Total revenues grew 22% to $40.9 million compared to $33.5 million in the third quarter of 2013. The company said the increase in revenue was due to greater sales of Infectious Disease products in the third quarter of 2014 and growth across all major categories, as well as a $2.8 million increase in grant revenue. Analysts expected revenue of $37.84 million for the quarter.