Quidel Announces Preliminary Revenue for Fourth Quarter 2013

SAN DIEGO, CA--(Marketwired - Jan 8, 2014) -  Quidel Corporation (NASDAQ: QDEL), a provider of rapid diagnostic testing solutions, cellular-based virology assays and molecular diagnostic systems, announced today that it expects revenues in the fourth quarter of 2013 to be approximately $50 million. 

"Despite low prevalence of influenza throughout most of the fourth quarter, we exceeded our forecast for our flu tests, driven by strong demand for Sofia Influenza A+B and lower than expected cannibalization of our QuickVue business," said Douglas Bryant, president and chief executive officer. "We are now more than half-way toward our goal of placing 10,000 Sofia analyzers by the end of this year, and remain very confident in our ability to reach that milestone," added Bryant.

These preliminary results are based on management's initial analysis of operations for the quarter ended December 31, 2013. The company expects to issue full financial results for the fourth quarter and fiscal year 2013 in February.

Quidel to Present at 32^nd Annual J.P. Morgan Healthcare Conference
Quidel will present at the 32nd Annual J.P. Morgan Healthcare Conference to be held at The Westin St. Francis hotel in San Francisco, California on Wednesday, January 15, 2014.

Douglas Bryant, president and chief executive officer, and Randy Steward, chief financial officer, will present that day at 2:30 p.m. Eastern time (11:30 a.m. Pacific time) with a question and answer session scheduled immediately following the presentation. During the presentation, the company will discuss business and financial developments and trends. The company's statements may contain or constitute material information that has not been previously disclosed.

A live webcast and audio archive of the presentation will be available via the Investor Relations section of the company's Web site at www.quidel.com. Participants should allow approximately five to ten minutes prior to the presentation's start time to visit the site and download any streaming media software needed to listen to the Internet webcast. A replay of the webcast will also be available on the company's Web site for 14 days.

About Quidel Corporation

Quidel Corporation serves to enhance the health and well being of people around the globe through the development of diagnostic solutions that can lead to improved patient outcomes and provide economic benefits to the healthcare system. Marketed under the QuickVue®, D3® Direct Detection and Thyretain® leading brand names, as well as under the new Sofia® and AmpliVue® brands, Quidel's products aid in the detection and diagnosis of many critical diseases and conditions, including, among others, influenza, respiratory syncytial virus, Strep A, herpes, pregnancy, thyroid disease and fecal occult blood. Quidel's research and development engine is also developing a continuum of diagnostic solutions from advanced lateral-flow and direct fluorescent antibody to molecular diagnostic tests to further improve the quality of healthcare in physicians' offices and hospital and reference laboratories. For more information about Quidel's comprehensive product portfolio, visit www.quidel.com and Diagnostic Hybrids at www.dhiusa.com.