OraSure Technologies, Inc. Reports Earnings Results for the Second Quarter and Six Months Ended June 30, 2023
August 03, 2023 at 09:05 pm
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OraSure Technologies, Inc. reported earnings results for the second quarter and six months ended June 30, 2023. For the second quarter, the company reported sales was USD 85.44 million compared to USD 80.23 million a year ago. Net loss was USD 4.8 million compared to USD 18.59 million a year ago. Basic loss per share from continuing operations was USD 0.07 compared to USD 0.26 a year ago. Diluted loss per share from continuing operations was USD 0.07 compared to USD 0.26 a year ago.
For the six months, sales was USD 240.4 million compared to USD 147.94 million a year ago. Net income was USD 22.42 million compared to net loss of USD 38.53 million a year ago. Basic earnings per share from continuing operations was USD 0.31 compared to basic loss per share from continuing operations of USD 0.53 a year ago. Diluted earnings per share from continuing operations was USD 0.3 compared to diluted loss per share from continuing operations of USD 0.53 a year ago.
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.