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 total revenues in the first quarter of 2022 to be in the range of $990 million to $1,000 million, or growth of 164% to 166% from the first quarter 2021 revenue of $375.3 million. COVID-19 product revenues in the first quarter of 2022 are expected to be approximately $836 million, composed of approximately $657 million in QuickVue® COVID-19 test revenue and approximately $138 million in Sofia® SARS antigen test revenue.
"We had another outstanding quarter and an excellent start to the year, delivering a record quarter for revenue," said Douglas Bryant, President and Chief Executive Officer of Quidel. "In the first quarter of 2022, we sold approximately 113 million QuickVue COVID-19 antigen tests and approximately 12 million Sofia SARS antigen tests. We also expanded our installed base of Sofia analyzers to 79,000 instrument placements, which further widens our point-of-care footprint and increases opportunities to introduce our full portfolio of assays to patients and healthcare providers."
Mr. Bryant concluded, "Thanks to the continued dedication of our people, Quidel is well-positioned to deliver strong performance for the year and advance our mission to expand access to accurate, affordable diagnostic testing in professional, retail and government sectors."
These preliminary results are based on management’s initial analysis of operations for the quarter ended March 31, 2022. Quidel expects to issue full financial results for the first quarter of 2022 in May.
https://finance.yahoo.com/news/quidel-announces-preliminary-revenue-first-201000378.html
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