SAN FRANCISCO (Thomson Financial) - OraSure Technologies Inc. late Tuesday
reported first-quarter net income rose 35% to $2 million, or 4 cents a share, a
penny above the mean estimate of analysts polled by Thomson Reuters.
The first-quarter results include a $4.9 million pre-tax gain related to a
settlement and licensing agreement entered into during the quarter with
Schering-Plough Healthcare Products Inc.
In the same period last year, the company posted a net profit of $1.49
million, or 3 cents a share.
Revenue in the period ended March 31 fell to $18.1 million from $20.1
million last year.
The company expects a second-quarter loss of 6 cents to 7 cents a share on
revenue of $18.5 million to $19 million, and a 2008 loss of 10 cents to 11 cents
a share on revenue of $83 million.
Analysts are currently expecting a second-quarter per-share loss of a penny
and a 2008 per-share profit of 5 cents.
Bethlehem, Pa.-based OraSure makes oral fluid specimen collection devices
and diagnostic products. The company's shares closed at $6.57 and fell more than
13% in after-hours trade.
Gabriel Madway
gm
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