UPDATE 1-Quidel posts better-than-expected quarterly results

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Wed Jul 23, 2008 5:08pm EDT

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July 23 (Reuters) - Quidel Corp (QDEL.O), which provides rapid diagnostic tests, reported better-than-expected quarterly results, helped by strong performance of its infectious disease diagnostic product line QuickVue.

For the second quarter, the company posted net loss of $0.5 million, or 2 cents a share, compared with a loss of $1.7 million, or 5 cents a share, a year earlier.

Revenue jumped 18 percent to $21.9 million, driven by strong international growth in QuickVue, the company said.

Analysts, on average, expected a loss of 4 cents a share, before special items, on revenue of $20.2 million, according to Reuters Estimates.

Shares of the San Diego, California-based company closed at $18.51 Wednesday on Nasdaq. (Reporting by Vidya L Nathan in Bangalore; Editing by Deepak Kannan)

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