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QuidelOrtho Reports Preliminary Revenue Results for Third Quarter 2022
QuidelOrtho to Report Third Quarter 2022 Financial Results on November 2, 2022 SAN DIEGO--(BUSINESS WIRE)-- QuidelOrtho Corporation (NASDAQ: QDEL) (the
About this update from Quidelortho Corporation
[{"type":"text","content":"\nQuidelOrtho to Report Third Quarter 2022 Financial Results on November 2, 2022\n\n SAN DIEGO--(BUSINESS WIRE)--\nQuidelOrtho Corporation (NASDAQ: QDEL) (the “Company” or “QuidelOrtho”), a global provider of innovative in vitro diagnostics technologies designed for point-of-care settings, clinical labs and transfusion medicine, today announced preliminary revenue results for the third quarter ended October 2, 2022.\n\nThe Company expects total revenues in the third quarter of 2022 to be in the range of $782 million to $785 million. COVID-19 product revenue is expected to be approximately $171 million and non-COVID-19 product revenue is expected to be in the range of $611 million to $614 million. COVID-19 product revenue included both shipments of an unanticipated government order and strong retail demand. While details on profits are not yet available, the Company expects COVID-19 product revenue to come through at or above overall Company margins. The preliminary revenue results described herein are based on management’s initial analysis for the third quarter ended October 2, 2022 and are subject to adjustments based on the Company’s completion of its quarter end financial close process.\n\n“In our first full quarter as a combined company, we delivered outstanding topline results. We are particularly pleased with the strong performance of our Transfusion Medicine business, as well as our Sofia® platform, which saw portfolio gains on top of increased COVID-19 product revenue,” said Douglas Bryant, Chairman and Chief Executive Officer of QuidelOrtho. “Our Labs business performed well while overcoming challenges in China and with global supply chains, and we made further progress on the ramp of our Savanna® molecular system. Thanks to the extraordinary dedication and cross-organizational collaboration of our people, we are achieving critical integration milestones, creating exciting new cross-selling opportunities, and realizing our synergy targets for both costs and revenue at this time.”\n\nQuarterly Conference Call Information\n\nQuidelOrtho will report financial results for its third quarter 2022 after the market close on Wednesday, November 2, 2022. Following the release of financial results, QuidelOrtho will hold a conference call beginning at 2:00 p.m. PDT / 5:00 p.m. EDT to discuss the financial results. Interested partie...