OraSure Technologies Earnings: Here’s Why the Stock is Rising Now
OraSure Technologies Inc. (NASDAQ:OSUR) had a loss and beat Wall Street’s expectations, AND beat the revenue expectation. The revenue beat is a positive sign to shareholders seeking high growth out of the company. Shares are up 6.12%.
OraSure Technologies Inc. Earnings Cheat Sheet
Results: Adjusted Earnings Per Share decreased to $-0.10 in the quarter versus EPS of $-0.07 in the year-earlier quarter.
Revenue: Rose 7.43% to $24.3 million from the year-earlier quarter.
Actual vs. Wall St. Expectations: OraSure Technologies Inc. reported adjusted EPS loss of $0.10 per share. By that measure, the company beat the mean analyst estimate of $-0.16. It beat the average revenue estimate of $23.67 million.
Quoting Management: “We are pleased with the Company’s financial results for the second quarter,” said Douglas A. Michels, President and CEO of OraSure Technologies, Inc. “A major contributor to this performance was the record level of revenues reported by our molecular collections subsidiary, DNA Genotek. We are also making good progress in commercializing the OraSure(NYSE:R) In-Home HIV test, as we continue to refine our sales and marketing strategies to maximize the financial opportunity and health benefits offered by this important new product.”
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