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orasure technologies inc (OSUR) Key Developments

OraSure Technologies, Inc. Reports Unaudited Consolidated Earnings Results for the Second Quarter and Six Months Ended June 30, 2014; Provides Consolidated Earnings Guidance for the Third Quarter of 2014

OraSure Technologies Inc. reported unaudited consolidated earnings results for the second quarter and six months ended June 30, 2014. For the quarter, the company reported net revenues of USD 26,401,000, operating income of USD 2,497,000, income before income tax of USD 2,355,000 and net income of USD 2,529,000 or USD 0.04 per diluted share compared to the net revenues of USD 24,337,000, operating loss of USD 5,576,000, loss before income tax of USD 5,534,000 and net loss of USD 5,285,000 or USD 0.10 per diluted share for the same quarter year ago. The improvement in the company's bottom line in net income for the quarter and six month period resulted primarily from the inclusion of a USD 5.5 million payment due under the terms of the termination of a drug assay collaboration with Roche Diagnostics, the higher revenues in each period and lower promotional costs for the OraQuick In-Home HIV Test. The second quarter net profit was due to a USD 5.5 million payment that the company received in connection with the termination of its drug assay collaboration with Roche Diagnostics. Cash used in operating activities in the second quarter of 2014 was USD 2.7 million, compared to USD 1.6 million used in the second quarter of 2013. For the six months period, the company reported net revenues of USD 49,938,000, operating loss of USD 3,121,000, loss before income tax of USD 3,145,000 and net loss of USD 3,102,000 or USD 0.06 per basic and diluted share compared to the net revenues of USD 45,501,000, operating loss of USD 16,165,000, loss before income tax of USD 16,170,000 and net loss of USD 15,511,000 or USD 0.28 per basic and diluted share for the same period year ago. Capital expenditures were USD 1,988,000 compared to the USD 1,092,000 for the same period year ago. Cash used in operating activities was USD 10,397,000 compared to the USD 9,278,000 for the same period year ago. The increases in revenues were primarily due to higher sales of the company's OraQuick HCV test, higher revenues from the company's molecular collection systems subsidiary, DNA Genotek, higher sales of the company's cryosurgical systems products and higher licensing and product development revenues. The company expects consolidated net revenues to range from USD 27.0 to USD 27.5 million and is projecting a consolidated net loss of approximately USD 0.04 to USD 0.05 per share for the third quarter of 2014.

OraSure Technologies, Inc., Q2 2014 Earnings Call, Aug 06, 2014

OraSure Technologies, Inc., Q2 2014 Earnings Call, Aug 06, 2014

OraSure Technologies, Inc. to Report Q2, 2014 Results on Aug 06, 2014

OraSure Technologies, Inc. announced that they will report Q2, 2014 results at 4:00 PM, US Eastern Standard Time on Aug 06, 2014

OraSure Technologies, Inc. Presents at Canaccord Genuity 34th Annual Growth Conference, Aug-13-2014 11:00 AM

OraSure Technologies, Inc. Presents at Canaccord Genuity 34th Annual Growth Conference, Aug-13-2014 11:00 AM. Venue: InterContinental Hotel, 510 Atlantic Avenue, Boston, MA 02210, United States. Speakers: Douglas A. Michels, Chief Executive Officer, President and Director.

OraSure Technologies, Inc. Revises Earnings Guidance for the Second Quarter of 2014

OraSure Technologies, Inc. revised earnings guidance for the second quarter of 2014. As a result of the $5.5 million payment expected from Roche Diagnostics, the company is reaffirming its projected range of consolidated net revenues of $26.0 to $26.5 million and is now projecting consolidated net income of approximately $0.01 to $0.02 per share for the second quarter of 2014.

 

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