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2024-01-22 17:16 QuidelOrtho ™ QuidelOrtho Corporation - Quidel Reports First Quarter 2021 Financial Results Corporate Site n Search Home Corporate Profile News Releases Events & Presentations Stock Information Financials Governance Resources Cautionary Information ESG News Release Details View All News Quidel Reports First Quarter 2021 Financial Results 05/06/2021 SAN DIEGO -- ( BUSINESS WIRE ) -- Quidel Corporation ( NASDAQ : QDEL ) , a provider of rapid diagnostic testing solutions , cellular - based virology assays and molecular diagnostic systems , announced today financial results for the first quarter ended March 31 , 2021 . First Quarter 2021 Highlights • Total revenue increased 115 % to $ 375.3 million , from $ 174.7 million in the first quarter of 2020 . • Total sales of COVID - 19 products were $ 280.3 million , as compared to $ 1.0 million in the first quarter of 2020 . • Total sales of Influenza products were $ 5.2 million , as compared to $ 79.6 million in the first quarter of 2020 . Cardiometabolic Immunoassay sales increased 23 % to $ 66.6 million . • Reported GAAP EPS of $ 4.09 per diluted share in the first quarter of 2021 , as compared to $ 0.93 per diluted share in the first quarter of 2020 . . • Reported non - GAAP EPS of $ 4.38 per diluted share in the first quarter of 2021 , as compared to $ 1.22 per diluted share in the first quarter of 2020 . Received EUA from the FDA for QuickVueⓇ At - Home COVID - 19 Test for prescription use and for QuickVueⓇ At - Home OTC COVID - 19 Test for serial at - home use without prescription and among asymptomatic persons . First Quarter 2021 Results Total revenue for the first quarter of 2021 was $ 375.3 million , versus $ 174.7 million for the first quarter of 2020. The 115 % increase in sales from the first quarter of 2020 was driven by growth in Rapid Immunoassay and Molecular Diagnostic Solutions product categories , the result of strong demand for both rapid antigen and PCR COVID - 19 tests . To a lesser extent , growth also came from our Cardiometabolic Immunoassay products . Revenue growth in the quarter was minimally offset by a decline in Specialized Diagnostic Solutions revenues . Currency exchange had a favorable impact of $ 2.1 million . Excluding COVID - 19 and influenza products , revenue for the core business was $ 89.9 million , as compared to $ 94.1 million in the first quarter of 2020 . Rapid Immunoassay product revenue increased by $ 141.7 million in the first quarter of 2021 to $ 237.7 million , primarily due to $ 212.1 million in revenue for our SofiaⓇ SARS Antigen test . Cardiometabolic Immunoassay revenue totaled $ 66.6 million in the first quarter of 2021 , an increase of 23 % from the first quarter of 2020 . Molecular Diagnostic Solutions revenue increased $ 51.9 million to $ 60.3 million mostly due to sales of LyraⓇ PCR assays for COVID - 19 diagnosis , as well as , to a lesser extent , sales of SolanaⓇ SARS - CoV - 2 assays . Specialized Diagnostic Solutions revenue decreased 34 % from the first quarter of 2020 to $ 10.9 million , driven by lower demand for respiratory testing . " The first quarter of 2021 was both a commercial and operational success , as well as a foundation forming period for the transformational opportunities in the quarters and years ahead . Our team continued to deliver extraordinary performance with the introduction of breakthrough new products , expanded manufacturing capabilities , regulatory approvals and capital discipline . As a result , we delivered a 115 % increase in revenues and an approximately 340 % increase in net income and earnings per share year - over - year , " said Douglas Bryant , president and CEO of Quidel Corporation . “ We see tremendous opportunities ahead to leverage our rapidly expanding installed base of Sofia® analyzers leveraging the exponential rise of telemedicine to drive sales of our full array of SofiaⓇ assays for flu , Strep and a host of other conditions . In addition , late in the quarter , we received pathbreaking EUAS from the FDA for Skip to main content https://ir.quidelortho.com/news/news-release-details/2021/Quidel-Reports-First-Quarter-2021-Financial-Results/ 1/5