Quidel Predicts Record Operating Profit For 3Q

SAN DIEGO (AP) — Quidel Corp., which makes flu tests, said Thursday that it would post record operating income and revenue in the third-quarter to beat analyst expectations, due to higher demand as fears of the flu spread.

Shares of the San Diego-based company surged $2.31, or 13.8 percent, to $19.01 in aftermarket trading. The stock closed at $16.70 in regular trading.

Analysts polled by Thomson Reuters expect third-quarter profit of 8 cents per share, with $27.9 million in revenue. A Quidel spokeswoman said the company anticipates beating the average analyst estimate of profit of 8 cents per share when it releases its third-quarter results.

Quidel makes the QuickVue Influenza A+B test. It said demand for the test soared in the third quarter. It has ramped up manufacturing to seven days a week to meet demand, and that it has the capacity to produce millions more tests every month to accommodate more orders.

The company said it has had an unprecedented volume of orders in the third quarter.

The current record for best quarterly results, spokeswoman Pam Lord said, was from the first quarter of 2008, when Quidel's revenue was $40.9 million and operating income was $13.6 million.