Diagnostic testing company Quidel Corporation (NASDAQ:QDEL) said on Thursday that it expects revenues in the range of USD374m to USD376m for the first quarter of 2021.
This marks a growth of approximately 114% over the revenues of USD174.7m in the prior year quarter.
For the quarter, the company delivered nearly 15m SARS tests, which compares favourably to the performance of industry colleagues.
COVID-19 revenues for the first quarter of 2021 are expected to be over USD280m when compared to USD1.0m for the first quarter of 2020. Influenza revenue for the first quarter of 2021 is expected to be USD5m from USD79.6m in the first quarter of 2020.
Gross margin is expected to be 80% for the Q1 2021, with earnings growth over the prior year quarter in excess of 300%.
The company added that the first quarter of 2021 was marked by the lack of a respiratory season, resulting in lower sales of influenza and other respiratory disease products.
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