04/25 14:20 TABLE - Quidel Corp <QDEL.O> Q1 results


SAN DIEGO, April 25 (Reuters) -
(in thousands, except per share data)

(unaudited)

Three months ended

March 31,

2000 1999 Net sales $22,068 $13,270 Research contracts, license fees and royalties 314 1,008

Total revenues 22,382 14,278 Operating expenses

Cost of sales 10,691 7,100

Sales and marketing 4,748 2,835

Research and development 2,133 1,926

General and administrative 2,499 1,562

Total operating expenses 20,071 13,423 Operating income 2,311 855 Other income (expense) (391) (17) Income before benefit (provision) for taxes 1,920 838 Benefit (provision) for income taxes (768) 6,575 Net income 1,152 7,413 Basic earnings per share 0.05 0.31 Diluted earnings per share 0.04 0.31 Shares used in basic earnings per share 24,404 23,806 Shares used in diluted earnings per share 26,703 23,816 Gross profit as a percent of net sales 51.6% 46.5% Sales and marketing as a percent of net sales

21.5% 21.4% Research and development as a percent of net sales 9.7% 14.5% General and administrative as a percent of net sales 11.3% 11.8% Earnings before interest, taxes, depreciation and amortization (EBITDA) 3,954 2,883 Basic EBITDA earnings per share 0.16 0.12 Diluted EBITDA earnings per share 0.15 0.12