QUIDEL Corporation
Condensed Consolidated Statements of Operations
(In thousands, except per share data)
(unaudited)
Three months ended Nine months ended
December, 31 December, 31
1998 1997 1998 1997
Net sales $13,746 $12,447 $33,893 $32,448
Research contracts
and royalties 1,181 995 3,325 2,350
Total revenues 14,927 13,442 37,218 34,798
Gross profit
from net sales 5,776 6,256 14,824 15,632
% of sales 42.0% 50.3% 43.7% 48.2%
Research
and development 1,902 1,888 6,016 5,672
Sales and marketing 2,330 2,621 6,803 7,633
General and
administrative 1,550 978 4,306 3,368
Restructuring cost -- -- 687 --
Total operating
expenses 5,782 5,487 17,812 16,673
Other income (expense) 79 (9) 219 (41)
Pre-tax income 1,254 1,755 556 1,268
Tax provision 308 51 308 51
Net income $ 946 $1,704 $ 248 $1,217
Basic and diluted
earnings per share $.04 $.07 $.01 $.05
Shares used in
basic EPS 23,788 23,714 23,774 23,622
Shares used in
diluted EPS 23,796 23,991 23,811 23,873
Condensed Consolidated Balance Sheet Data
(In thousands)
(unaudited)
December, 31 December, 31
1998 1997
Cash and Cash Equivalents $6,012 $8,698
Working Capital 15,495 16,718
Total Assets 46,091 45,543
Stockholders' Equity 37,221 36,826
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