QUIDEL/MABS REPORT FINANCIAL RESULTSThe two diagnostic companies that completed a stock-for-stockmerger to form Quidel Corp. (NASDAQ:QDEL) on Jan. 31 --Monoclonal Antibodies Inc. and Quidel Corp.-- on Thursdayreported seperate quarterly financial results.
The merged company said it expects to record substantialmerger-related charges in its current fourth fiscal quarter,which ends March 31. It also adopted March 31 as the end ofits fiscal year.
Monoclonal Antibodies reported that it paid $50,000,equivalent to 1 cent a share, in preferred stock dividends fromits $210,000 third-quarter profits.
Monoclonal Antibodies Inc.
Third quarter ended Dec. 31
(Figures in thousands except per-share data.)
1990 1989 Percent change
Revenues $2,332 2,417 -4Operating income 269 227 +19Net income (loss) 210 197 +7Net income per share (loss) .04 .04 n.c.Outstanding shares 4,371 4,248 +3
Quidel Corp.
Fourth quarter ended Dec. 31(Figures in thousands except per-share data.)
1990 1989 Percent change
Total revenues $4,662 4,051 +15Operating income 119 46 +159
Year ended Dec. 31(Figures in thousands except per-share data.)
1990 1989 Percent change
Total revenues $18,509 12,872 +44Operating income 379 (3,187) n.a.
MOLECULAR BIOSYSTEMS BLAMES LOSS ON SYNGENE
Molecular Biosystems Inc. (NYSE:MB) of San Diego reported a$126,506 loss, or 1 cent a share, for the nine months ended Dec.31, compared to a $4.2 million profit, or 43 cents a share, forthe comparable period of 1989. The company said the nine-month results were due to larger losses by its Syngene Inc.subsidiary and reduced license and contract revenuescompared with last year.
Third quarter ended Dec. 31
(Figures in thousands except per-share data.)
1990 1989 Percent change
Revenues $3,205 5,409 -41Net income (loss) 102 1,318 -92Net income per share (loss) .01 .13 -92
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