OraSure Technologies (OSUR) Tops Q4 EPS by 1c

OraSure Technologies (NASDAQ: OSUR) reported Q4 EPS of $0.12, $0.01 better than the analyst estimate of $0.11. Revenue for the quarter came in at $52 million versus the consensus estimate of $47.81 million.

First Quarter 2018 Outlook

In January 2018, the Company announced the appointment of Dr. Stephen Tang as the Company’s new President and CEO, effective April 1, 2018. Dr. Tang will replace Douglas A. Michels, the Company’s current President and CEO, who will be retiring on March 31, 2018. The Company has also recently announced that Ronald H. Spair, the Company’s Chief Financial Officer and Chief Operating Officer, will be retiring on or before June 30, 2018.

Charges associated with these transitions are expected to total $6.8 million in the first quarter of 2018. These charges primarily reflect non-cash charges associated with modifications to existing stock grants held by the retiring executives and expenses associated with the onboarding of the Company’s new President and CEO.

The Company expects consolidated net revenues to range from $40.0 million to $41.0 million and is projecting a consolidated net loss of approximately $0.06 per share for the first quarter of 2018. The projected net loss includes the transition costs noted above.

For earnings history and earnings-related data on OraSure Technologies (OSUR) click here.

You May Also Be Interested In

• Micron surges 5.5% on blockbuster Anthropic AI deal ahead of earnings
• AXT appoints Tracy Liu to its board of directors
• Goldman reinstates Estee Lauder rating, sees turnaround driving growth and margins