Quidel Corp. (NASDAQ:QDEL) Q4 2018 Earnings Conference Call Transcript

Feb 13, 2019 • 05:00 pm ET


Quidel Corp. (NASDAQ:QDEL) Q4 2018 Earnings Conference Call Transcript


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Ladies and gentlemen, thank you for standing by. Welcome to the Quidel Corporation Fourth Quarter and Full-Year 2018 Earnings Conference Call. At this time, all participants are in a listen-only mode. Later instructions will be given for the question-and-answer session. (Operator Instructions) I'd now like to turn the call over to Mr. Ruben Argueta, Quidel's Director of Investor Relations. Please go ahead.

Ruben Argueta

Thank you, operator. Good afternoon everyone and thank you for joining today's call. With me today is our President and Chief Executive Officer, Doug Bryant; Randy Steward, our Chief Financial Officer.

Our fourth quarter and full-year 2018 earnings release is now available on ir.quidel.com, our Investor Relations website. We will also post our prepared remarks on the Presentations tab of our IR website following the conclusion of this call on February 13th for a period of 24 hours.

Please note that this conference call will include forward-looking statements within the meaning of federal securities laws. It is possible that actual results and performance could differ significantly from these stated expectations. For a discussion of risk factors, please review Quidel's annual report on Form 10-K, registration statements and subsequent quarterly reports on Form 10-Q as filed with the SEC. Furthermore, this conference call contains time-sensitive information that is accurate only as of the date of the live broadcast, February 13, 2019. Quidel undertakes no obligation to revise or update any statements to reflect events or circumstances after the date of this conference call, except as required by law.

Today, Quidel released financial results for the three months and full year ended December 31, 2018. If you have not received our news release or if you'd like to be added to the Company's distribution list, please contact me at 858-646-8023. Following Doug's comments, Randy will briefly discuss our financial results. Then we'll open the call to your questions. I'll now hand the call over to Doug for his comments.

Douglas C. Bryant

Thank you, Ruben and good afternoon everyone. Thanks for listening in on the call. We have a lot to do this year, 2019, and there are many great exciting opportunities ahead of us. So I won't spend too much time perhaps today looking in the rearview mirror. Having said that, Q4 2018 was a solid quarter for us and 2018 overall was extraordinary. Early in the year, at our Analyst Day in Chicago, we communicated several milestones, several expectations for the year. We said first that our commercial leadership and their teams could fully absorb the larger sales and marketing responsibilities, establishing a solid revenue baseline for the acquired Triage products while continuing to grow our legacy immunoassay and molecular businesses as we had in the past.

We said that we would do this by recruiting and installing the necessary people and infrastructure internationally, but would not need to add significant resources for the US. We said that we believed that we would reach $250 million for the combined Triage businesses globally. Instead, we did $267 million in revenue for the year.