Exhibit 99.1

 

 

 

Company Contact:

 

Roberto Cuca

Jeanne Mell

Chief Financial Officer

610-882-1820

VP Corporate Communications

484-353-1575

Investorinfo@orasure.com

media@orasure.com

www.orasure.com

www.orasure.com

OraSure Announces 2018 Full Year and Fourth Quarter Financial Results

BETHLEHEM, PA – February 6, 2019 – (Globe Newswire) – OraSure Technologies, Inc. (NASDAQ: OSUR), a leader in point-of-care diagnostic tests and specimen collection devices, today announced its financial results for the full year and fourth quarter of 2018.

Financial Highlights

 

Net revenues for the year ended December 31, 2018 were $181.7 million, a 9% increase from 2017.  Net product revenues were $165.4 million, representing 2% growth over 2017.

 

Net revenues for the fourth quarter of 2018 were $50.2 million, a 3% decrease from the fourth quarter of 2017. Net product revenues were $44.8 million, representing an 11% decrease from the fourth quarter of 2017.

 

Molecular collection systems net revenues for the full year 2018, including royalty income from a litigation settlement, were $96.1 million, up 28% from 2017.  Molecular collection systems net revenues including royalty income were $30.2 million during the fourth quarter of 2018, up 2% from the fourth quarter of 2017.  Molecular collection systems net product revenues during the year ended December 31, 2018 were $86.5 million, a 15% increase from the comparable period of 2017.  Molecular collection systems net product revenues were $25.4 million during the fourth quarter of 2018, which represents a 15% decrease from the fourth quarter of 2017.  

 

For the full year of 2018, international sales of the Company’s OraQuick® HIV products were $21.8 million, an increase of 93% compared to 2017.  International sales of the Company’s OraQuick® HIV products of $4.4 million in the fourth quarter of 2018 increased 23% compared to the fourth quarter of 2017. The increases in both periods were primarily the result of higher sales of the Company’s OraQuick® HIV Self-Test.

 

Full year 2018 international sales of the Company’s OraQuick® HCV product of $4.9 million decreased 71% from 2017. International sales of the Company’s OraQuick® HCV product of $1.6 million increased 40% for the fourth quarter of 2018 compared to the fourth quarter of 2017.  The decline for the full year was primarily the result of the non-renewal of a foreign government supply contract in support of a countrywide HCV eradication program at the end of 2017.  This program contributed $11.8 million in sales during the full year of 2017 and


The following information was filed by Orasure Technologies Inc (OSUR) on Wednesday, February 6, 2019 as an 8K 2.02 statement, which is an earnings press release pertaining to results of operations and financial condition. It may be helpful to assess the quality of management by comparing the information in the press release to the information in the accompanying 10-K Annual Report statement of earnings and operation as management may choose to highlight particular information in the press release.
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