Revenue during the quarter went up marginally by 0.76 percent to $52.81 million from $52.41 million in the previous year period. Gross margin for the quarter contracted 163 basis points over the previous year period to 63.80 percent. Total expenses were 88.80 percent of quarterly revenues, down from 94.92 percent for the same period last year. This has led to an improvement of 612 basis points in operating margin to 11.20 percent.

Operating income for the quarter was $5.92 million, compared with $2.66 million in the previous year period.

“Our fourth quarter results were softened by two factors. First, although states like Florida, North Carolina and some others saw earlier starts to the influenza season than last year, many did not. And second, while data in our Virena cloud indicated increasing Sofia influenza test usage and positivity rates in many states in December, distributors consumed their inventories to levels that were roughly two-thirds of what they were at the end of 2015,” said Douglas Bryant, president and Chief executive officer of Quidel Corporation.“On the positive side, Sofia placements were significant, as anticipated, and our molecular franchise grew nicely, driven by the launch of multiple Solana assays earlier in the year.”