SAN DIEGO--(BUSINESS WIRE)--Jan. 7, 2019--
Quidel Corporation (NASDAQ: QDEL) (“Quidel”), 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 2018 to be in the range of $132
million to $133 million.
“We had another great quarter, and a remarkable year, a year in which
our efforts and excellent performance were driven significantly by the
integration of the acquired Triage assets. We unlocked synergies,
brought most international businesses within our control, and
aggressively paid down debt,” said Douglas Bryant, president and chief
executive officer of Quidel Corporation. “And we did all that without
taking our eye off the ball. Notably, Sofia placements, which for the
year were nearly 10,000, were higher than in any prior year since launch
by far, further demonstrating the competitiveness and resilience of the
Sofia instrument system, as well as the global commercial organization’s
proficiency in ‘selling the entire bag’,” added Mr. Bryant.
These preliminary results are based on management’s initial analysis of
operations for the quarter ended December 31, 2018. The company expects
to issue full financial results for the fourth quarter and fiscal year
2018 in February.
Quidel to Present at 37th Annual J.P. Morgan
Healthcare Conference
Quidel will present at the 37th Annual J.P. Morgan Healthcare Conference
to be held at The Westin St. Francis hotel in San Francisco, California
on Wednesday, January 9, 2019.
Douglas Bryant, president and chief executive officer, and Randy
Steward, chief financial officer, will present that day at 5:30 p.m.
Eastern time (2:30 p.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 Sofia®, QuickVue®, D3® Direct
Detection, Thyretain®, Triage® and InflammaDry® leading brand names, as
well as under the new Solana®, AmpliVue® and Lyra® molecular diagnostic
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 recently acquired Triage® system of tests
comprises a comprehensive test menu that provides rapid, cost-effective
treatment decisions at the point-of-care (POC), offering a diverse
immunoassay menu in a variety of tests to provide diagnostic answers for
quantitative BNP, CK-MB, d-dimer, myoglobin, troponin I and qualitative
TOX Drug Screen. Quidel’s research and development engine is also
developing a continuum of diagnostic solutions from advanced immunoassay
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 quidel.com.
Forward-Looking Statements
This press release contains forward-looking statements within the
meaning of the federal securities laws that involve material risks,
assumptions and uncertainties. Many possible events or factors could
affect our future financial results and performance, such that our
actual results and performance may differ materially from those that may
be described or implied in the forward-looking statements. As such, no
forward-looking statement can be guaranteed. Differences in actual
results and performance may arise as a result of a number of factors
including, without limitation, a final determination that some of the
provisions of our contractual arrangement with Beckman Coulter are
unenforceable or otherwise not valid; our reliance on sales of our
influenza diagnostic tests; fluctuations in our operating results
resulting from the timing of the onset, length and severity of cold and
flu seasons, seasonality, government and media attention focused on
influenza and the related potential impact on humans from novel
influenza viruses, adverse changes in competitive conditions in domestic
and international markets, the reimbursement system currently in place
and future changes to that system, changes in economic conditions in our
domestic and international markets, lower than anticipated market
penetration of our products, the quantity of our product in our
distributors’ inventory or distribution channels, changes in the buying
patterns of our distributors, and changes in the healthcare market and
consolidation of our customer base; our development and protection of
proprietary technology rights; our development of new technologies,
products and markets; our reliance on a limited number of key
distributors; intellectual property risks, including but not limited to,
infringement litigation; our need for additional funds to finance our
capital or operating needs; the financial soundness of our customers and
suppliers; acceptance of our products among physicians and other
healthcare providers; competition with other providers of diagnostic
products; adverse actions or delays in new product reviews or related to
currently-marketed products by the U.S. Food and Drug Administration
(the “FDA”) or other regulatory authorities or loss of any previously
received regulatory approvals or clearances; changes in government
policies; our exposure to claims and litigation, including litigation
currently pending against us; costs of or our failure to comply with
government regulations in addition to FDA regulations; compliance with
government regulations relating to the handling, storage and disposal of
hazardous substances; third-party reimbursement policies; our failure to
comply with laws and regulations relating to billing and payment for
healthcare services; our ability to meet demand for our products;
interruptions in our supply of raw materials; product defects; business
risks not covered by insurance; our exposure to cyber-based attacks and
security breaches; competition for and loss of management and key
personnel; international risks, including but not limited to, compliance
with product registration requirements, exposure to currency exchange
fluctuations and foreign currency exchange risk sharing arrangements,
longer payment cycles, lower selling prices and greater difficulty in
collecting accounts receivable, reduced protection of intellectual
property rights, political and economic instability, taxes, and
diversion of lower priced international products into U.S. markets;
changes in tax rates and exposure to additional tax liabilities or
assessments; risks relating to the acquisition and integration of the
Triage and BNP Businesses; Alere’s failure to perform under various
transition agreements relating to our acquisition of the Triage and BNP
Businesses; that we may incur substantial costs to build our information
technology infrastructure to transition the Triage and BNP Businesses;
that we may have to write off goodwill relating to our acquisition of
the Triage and BNP Businesses; that we our ability to manage our growth
strategy; the level of our indebtedness; the amount of, and our ability
to repay, renew or extend, our outstanding debt and its impact on our
operations and our ability to obtain financing; that substantially the
Senior Credit Facility is secured by substantially all of our assets;
our prepayment requirements under the Senior Credit Facility; the
agreements for our indebtedness place operating and financial
restrictions on the Company; that an event of default could trigger
acceleration of our outstanding indebtedness; our inability to settle
conversions of our Convertible Senior Notes in cash; the effect on our
operating results from the trigger of the conditional conversion feature
of our Convertible Senior Notes; that we may incur additional
indebtedness; increases in interest rate relating to our variable rate
debt; dilution resulting from future sales of our equity; volatility in
our stock price; provisions in our charter documents, Delaware law and
the indenture governing our Convertible Senior Notes that might delay or
impede stockholder actions with respect to business combinations or
similar transactions; and our intention of not paying dividends.
Forward-looking statements typically are identified by the use of terms
such as “may,” “will,” “should,” “might,” “expect,” “anticipate,”
“estimate,” “plan,” “intend,” “goal,” “project,” “strategy,” “future,”
and similar words, although some forward-looking statements are
expressed differently. The risks described in reports and registration
statements that we file with the Securities and Exchange Commission (the
“SEC”) from time to time, should be carefully considered. You are
cautioned not to place undue reliance on these forward-looking
statements, which reflect management’s analysis only as of the date of
this press release. Except as required by law, we undertake no
obligation to publicly release the results of any revision or update of
these forward-looking statements, whether as a result of new
information, future events or otherwise.
View source version on businesswire.com: https://www.businesswire.com/news/home/20190107005299/en/
Source: Quidel Corporation
Quidel Contact:
Quidel Corporation
Randy Steward
Chief
Financial Officer
(858) 552-7931
Media and Investors Contact:
Quidel Corporation
Ruben Argueta
(858)
646-8023
rargueta@quidel.com