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Co-Diagnostics turns 1Q net profit of nearly $8M on strong sales of its Logix Smart COVID-19 Test
Fueled by $20 million in revenue, net income was $7.9 million as compared to a net loss of $1.1 million in the prior-year quarter Looking to the second quarter, Co-Diagnostics gave revenue guidance in the range of $20 million to $22 million
Co-Diagnostics Inc (NASDAQ:CODX) reported that it earned a first-quarter net profit versus a loss last year on strong sales of its Logix Smart COVID-19 Test.
For the quarter ended March 31, the company said income before taxes was $9.9 million as it generated revenue of $20 million. Net income was $7.9 million, compared to a net loss of $1.1 million in the prior-year quarter.