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OraSure Technologies posts 4Q earnings beat, but stock tumbles on lower guidance

The company said it expects a first quarter loss of $0.07 to $0.06 per share on revenue of $29.0 million to $30.5 million.
Vials of blood samples
The company makes the OraQuick Advance HIV test, which is widely used in hospitals and doctor's offices

OraSure Technologies Inc (NASDAQ:OSUR) stock tumbled Thursday after the maker of diagnostic test kits posted fourth-quarter earnings that beat estimates but guided lower.

Investors sent shares of the Bethlehem, Pennsylvania, company reeling 14.5% to $10.95 in pre-market trade.

For the quarter ended June 2018, OraSure Technologies posted earnings of $0.20 per share on revenue of $50.2 million. The consensus earnings estimate was $0.11 per share on revenue of $47.5 million. Revenue fell 3.4% compared with the same quarter a year ago.

READ: Hemispherx BioPharma launches $8M rights issue to fund cancer drug trials

Looking ahead, the company said it expects a first-quarter loss of $0.07 to $0.06 per share on revenue of $29.0 million to $30.5 million. The current consensus estimate is for earnings of $0.09 per share on revenue of $45.1 million for the quarter ending March 31, 2019.

OraSure Technologies makes oral fluid diagnostic products and specimen-collection devices in the US, Europe and internationally. The company makes the OraQuick Advance HIV test, which is widely used in hospitals and doctor's offices. OraSure also supplies oral fluid testing solutions for drugs-of-abuse testing.

Contact Uttara Choudhury at [email protected]

Follow her on Twitter@UttaraProactive 

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