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QUIDEL REPORTS INCREASED THIRD QUARTER SALES

 SAN DIEGO, Feb. 4 /PRNewswire/ -- QUIDEL Corp. (NASDAQ: QDEL) today announced third quarter results for the three months ended Dec. 31, 1992. Driven by strong demand for the company's infectious disease products in the doctor's office and newly introduced fertility products for the home testing market, net product sales for the quarter rose to $7.503 million compared to $6.703 million in the same period last year.
 Worldwide sales of products under the QUIDEL label increased by 20 percent over the same quarter last year, as the company continued its investment in research and development and marketing support of its new Conceive(TM) and QuickVue(TM) One-Step product lines. For the current quarter, the combined research and development and sales and marketing investment increased by $347,000, or 16 percent, over the similar period a year ago. As a result of these expenditures, net income was $285,000, or $.02 per share, compared to net income of $312,000, or $.02 per share, in the comparable period a year earlier.
 "Sales of the new Conceive pregnancy and ovulation tests to the consumer market have made a strong contribution to our performance," said Scott L. Glenn, chairman and chief executive officer of QUIDEL. "Our ongoing investment in research and development has resulted in two new products this past quarter and four over the past 12 months. Simultaneously, we have increased our investment in sales and marketing programs in the United States to support both our new QuickVue physician's office products and distribution of our Conceive products to large pharmacy chain accounts. In addition, we broadened our international distribution with a key strategic acquisition in Holland and a joint venture in Austria."
 During the past six months the company has been successful in introducing the Conceive brand of one-step products to large pharmacy chain accounts, which the company believes will promote new product acceptance and name recognition in the home testing market. In October 1992, the company announced expanded distribution of its new Conceive One-Step ovulation prediction test after Walgreens Stores agreed to carry it in their 1,800 store chain. Since then, the company has begun marketing the companion product called Conceive One-Step Pregnancy Test. Distribution for both Conceive products has increased to include Osco/Sav-on Drugs, Pathmark, Ralleys, Longs Drugs, Drug Emporium and others.
 QUIDEL Corp. develops, manufactures and markets rapid immunodiagnostic products that provide simple, accurate and cost- effective diagnoses in the areas of human fertility, infectious disease, allergy and autoimmune disorders. These tests are designed for use in the physician's office, clinical laboratory and home testing markets.
 QUIDEL CORP.
 Comparative Financial Data
 (In thousands, except per share data)
 (Unaudited)
 Three months ended Nine months ended
 Dec. 31, Dec. 31,
 FY1993 FY1992 FY1993 FY1992
 Net sales $7,503 $6,703 $19,559 $19,140
 Contract and
 other revenue $138 $60 $666 $545
 Gross profit $3,511 $3,107 $9,213 $8,803
 Operating expenses $3,243 $2,771 $9,345 $8,600
 Net income $285 $312 $189 $527
 Net income per share $0.02 $0.02 $0.01 $0.03
 -0- 2/4/93
 /CONTACT: Scott L. Glenn, chairman and CEO, 619-552-7900, or Mark Francois, manager, investor relations, 619-552-7931, both of QUIDEL Corp./
 (QDEL)


CO: QUIDEL Corp. ST: California IN: MTC SU: ERN

KJ-LS -- SD004 -- 2739 02/04/93 08:04 EST
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Date:Feb 4, 1993
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