Cash and cash equivalents as of June 30, 2010 were $14.8 million. The reduction in cash and cash equivalents since December 31, 2009 reflects cash used as part of the Diagnostic Hybrids acquisition and repurchases of approximately 0.7 million shares of Quidel common stock for $8.8 million under the previously announced share repurchase program. A total of $10.3 million remains available for share repurchases under the current Board authorized program.

Six Months Ended June 30, 2010

Total revenues increased 28.6% to $53.4 million for the six-month period ended June 30, 2010 from $41.5 million for the same period in 2009. Diagnostic Hybrids contributed $14.9 million of revenue for the six months ended June 30, 2010. For the six-month period in 2010, loss per share was $0.18 compared to $0.07 for the same period of the prior year. On a pro forma basis, excluding non-recurring items and amortization of acquired intangibles, net loss for the six months ended June 30, 2010 was $1.8 million, or $0.06 per share, compared to a net loss of $0.9 million, or $0.03 per share for the same period of 2009.

Source Quidel Corporation