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OraSure Technologies Inc. Reports Operating Results (10-Q)

August 08, 2012 | About:
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10qk

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OraSure Technologies Inc. (OSUR) filed Quarterly Report for the period ended 2012-06-30.

Orasure Technologies, Inc. has a market cap of $514.1 million; its shares were traded at around $9.84 with and P/S ratio of 6.3.
This is the annual revenues and earnings per share of OSUR over the last 10 years. For detailed 10-year financial data and charts, go to 10-Year Financials of OSUR.


Highlight of Business Operations:

Consolidated revenues increased 19% to $22.6 million in the second quarter of 2012 from $19.1 million in the comparable quarter of 2011. The current quarter included $3.3 million in revenues from our molecular collection systems segment. Product revenues increased 19% during the three months ended June 30, 2012 when compared to the second quarter of 2011, primarily as a result of the $3.3 million of molecular collection system sales and higher sales of our cryosurgical systems products. These increases were partially offset by lower sales of our infectious disease testing, substance abuse testing and insurance risk assessment products. Licensing and product development revenues also decreased in the quarter as compared to the prior year period.

Domestic OraQuick® HIV sales decreased 16% to $8.4 million for the three months ended June 30, 2012, from $10.1 million for the three months ended June 30, 2011. The decrease in domestic sales was due to changes in public health testing programs, reductions in government funding, some business lost due price competition, and timing of certain customer purchases. International sales of our OraQuick® HIV test increased by 4% to $744,000 for the three months ended June 30, 2012 from $714,000 for the three months ended June 30, 2011, largely the result of higher sales to Africa in the second quarter of 2012.

Domestic Histofreezer® sales increased 13% to $1.9 million in the second quarter of 2012 from $1.7 million in the second quarter of 2011 due to the ordering patterns of one of our large distributors and increased success of the sales and promotional efforts by our distributors and our manufacturers’ sales representative organizations (“MROs”). During the three months ended June 30, 2012, sales of Histofreezer® in the international market increased 50% to $371,000 from $247,000 in 2011, largely as a result of higher sales in Europe, Australia and Africa.

Consolidated revenues increased 19% to $43.6 million in the first half of 2012 from $36.5 million in the comparable period of 2011. The current period included $6.6 million in revenues from our molecular collection systems segment. Product revenues increased 18% during the first half of 2012 when compared to the first half of 2011, primarily as a result of the $6.6 million of molecular collection system sales and higher sales of our cryosurgical systems products. These increases were partially offset by lower sales of our infectious disease testing, substance abuse testing and insurance risk assessment products. Licensing and product revenues also increased in the current six-month period as compared to the prior year period.

Domestic Histofreezer® sales increased 9% to $3.3 million in the first half of 2012 from $3.1 million in the first half of 2011 due to the ordering patterns of one of our large distributors and increased success of the sales and promotional efforts of our distributors and MROs. During the six months ended June 30, 2012, sales of Histofreezer® in the international market increased 12% to $657,000 compared to $587,000 in the same period of the prior year, largely as a result of higher sales in Australia and Africa.

Read the The complete Report

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