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Biotech / Medical : QDEL - Quidel more quick diagnosis
QDEL 21.27+0.9%3:59 PM EST
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To: DeadHead who wrote (984)7/25/1997 11:28:00 AM
From: Robert Busse   of 1693
 
I listened in on the conference call and no one is jumping out the window - it was short but there were indeed some positives- the backlog due to the production problem affected mainly the ovulation products- should be corrected by mid 2nd quarter - also some of revenue shortfall was due to strength of US dollar overseas - made Qdel products less attractive overseas - the backlog also will, as you note, be of benefit in the 2nd quarter when those 3/4 million $$ in orders will be filled- Mr Frankel also mentioned that they will "expect to eliminate the future impact of the added royalty expense through manufacturing cost reductions"- he mentioned moving some of their higher priced packaging operations to Mexico, which "is only 18 miles away" from their HQ in San Diego. One of the callers, Chris Tihansky w/ Genesis Merchant Group, told Mr Frankel that Bayer was demonstrating the use of Quidel's hCG test with its Clinitek Analyzer at the recent AACC meeting - this product should be ready for sale w/ Clinitek analyzer in a few months - Mr Frankel also said hp sales had "doubled" from last year levels - he also said "anecdotal evidence" from their major distributors, General Medical, Bergin-Brunswig, and Henry Schein, indicated a 15-30% increase in "out-the-door" sales - wasn't entirely clear if this was versus last quarter or last year .
The negative earnings seem to have been factored into the stock price alreay since the earnings news only caused a 1/8 to 1/4 point drop - hopefully a temporary situation.
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