OraSure Technologies Revises Revenue Guidance for the Fourth Quarter of 2017
January 04, 2018 at 06:30 pm IST
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OraSure Technologies revised revenue guidance for the fourth quarter of 2017. The company is updating its revenue guidance for the fourth quarter and is now projecting consolidated net revenues of at least $50 million. The company’s decision to preannounce enables it to provide a more updated view of its business at the JP Morgan Healthcare Conference. The company will recall that it previously projected that fourth quarter revenues would be in the $45 million to $46 million. This updated revenue forecast will be another record quarter for the company. The improved guidance is due primarily to higher than anticipated growth in its molecular collections business, which is expected to generate revenues of at least $29 million in the fourth quarter.
OraSure Technologies, Inc. provides point-of-care and home diagnostic tests, sample management solutions, and microbiome laboratory and analytical services. The Company's product portfolio is divided into diagnostics products and sample management solutions. Its business consists of the development, manufacture, marketing and sale of diagnostic products and specimen collection devices using its technologies, as well as other diagnostic products including immunoassays and other in vitro diagnostic tests that are used on other specimen types. Its diagnostic products include tests for diseases including COVID-19, HIV and Hepatitis C that are performed on a rapid basis at the point of care, and tests for drugs of abuse that are processed in a laboratory. Its business also includes molecular sample management solutions and services that are used by clinical laboratories, direct-to-consumer laboratories, researchers, pharmaceutical companies, and animal health service and product providers.
ORASURE TECHNOLOGIES, INC. 
