OSUR - OraSure Technologies Inc

OraSure Technologies, Inc. is engaged in the development, manufacture, marketing and sale of oral fluid diagnostic products and specimen collection devices using its oral fluid technologies, as well as other diagnostic products, including immunoassays and other in-vitro diagnostic tests that are used on other specimen types, and other medical devices used for the removal of benign skin lesions by cryosurgery or freezing. The Company's diagnostic products include tests, which are performed on a rapid basis at the point of care, and tests that are processed in a laboratory. These products are sold in the United States and internationally to various clinical laboratories, hospitals, clinics, community-based organizations and other public health organizations, distributors, government agencies, physicians' offices, and commercial and industrial entities. In August 2011, the Company acquired DNA Genotek Inc...

OraSure Announces 2012 First Quarter Financial Results
11 days 2 minutes ago - GlobeNewswire via Comtex
OraSure Technologies, Inc. (Nasdaq:OSUR), a market leader in oral fluid diagnostics, today announced its consolidated financial results for the first quarter of 2012.

Financial Highlights

-- Consolidated revenues were $20.9 million for the first quarter of 2012,
a 20% increase from the comparable quarter of 2011. Revenues for the
current quarter included $3.3 million in revenues from the Company's
molecular diagnostic collection subsidiary, DNA Genotek Inc. ("DNAG"),
acquired in August 2011.
-- Consolidated net loss for the first quarter of 2012 was $3.3 million, or
$0.07 per share, which compares to a net loss of $2.6 million, or $0.06
per share, for the first quarter of 2011.


"We are pleased to deliver first quarter financial results that are in line with expectations," said Douglas A. Michels, President and CEO of OraSure Technologies. "Our molecular collection systems business was an important contributor for the quarter and we are starting to see some positive impact on sales of our OraQuick(R) HCV test resulting from the CLIA waiver received in late 2011. We are also pleased that the FDA's Blood Products Advisory Committee will consider our OraQuick(R) At-Home HIV test submission at its upcoming meeting on May 15."

Financial Results

Product revenues for the quarter increased 16% primarily as a result of the $3.3 million of molecular collection system sales and higher sales of the Company's cryosurgical systems products. These increases were partially offset by lower sales of the Company's infectious disease testing, substance abuse testing and insurance risk assessment products. Licensing and product development revenues for the first quarter of 2012 increased by $842,000 primarily as a result of the receipt of a $1.0 million milestone payment received under the terms of the Company's HCV collaboration agreement with Merck. Licensing and product development revenues for the current quarter also reflect a decrease in royalties received under a Settlement and License Agreement with Merck related to the Company's cryosurgical patents.

Consolidated gross margin for the three months ended March 31, 2012 was 66% compared to 65% for the three months ended March 31, 2011. The increase in gross margin in the current quarter was largely due to the benefit of the $1.0 million milestone payment, partially offset by an increase in product support costs and a decline in the absorption of labor costs when compared to the first quarter of 2011.

Consolidated operating expenses increased $3.6 million to $17.4 million in the first quarter of 2012 from $13.8 million in the comparable period of 2011. This increase reflects the inclusion of $3.1 million of DNAG operating expenses, increased sales and marketing spending associated with the preparation for commercialization of the Company's HIV-OTC product and increased consulting and staffing costs. These increases were partially offset by a decrease in spending on clinical trials related to the Company's OraQuick(R) HIV-OTC product.

For the quarter ended March 31, 2012, the Company also recorded an income tax benefit of $0.5 million associated with the DNAG loss before income taxes and certain Canadian research and development and investment tax credits.

Cash totaled $22.8 million at March 31, 2012 compared to $23.9 million at December 31, 2011. Working capital remained relatively flat at $30.8 million at March 31, 2012 compared to $30.9 million at December 31, 2011.

Second Quarter 2012 Outlook

The Company expects total consolidated revenues for the second quarter of 2012 to range from $22.0 to $22.5 million and is projecting a consolidated net loss of approximately $0.09 - $0.10 per share for the second quarter of 2012.

OraSure Technologies to Webcast Annual Meeting of Stockholders
5 days 10 hours 3 minutes ago - GlobeNewswire via Comtex
OraSure Technologies, Inc. (Nasdaq:OSUR), the market leader in oral fluid diagnostics, announced that it will webcast its 2012 Annual Meeting of Stockholders beginning at 10:00 a.m. Eastern Time (7:00 a.m. Pacific Time) on Tuesday, May 15, 2012.

In order to access the webcast, interested parties should go to OraSure Technologies' web site, www.orasure.com, and click on the Investor Info link at least ten minutes prior to the start of the webcast to register for the call. A replay of the webcast will be archived on OraSure Technologies' web site shortly after the webcast has ended and will be available for seven days.

The webcast will also be available at www.virtualshareholdermeeting.com/OSUR2012 before and after the meeting.

The OraSure Technologies, Inc. logo is available at http://www.globenewswire.com/newsroom/prs/?pkgid=6440

This news release was distributed by GlobeNewswire, www.globenewswire.com

SOURCE: OraSure Technologies, Inc.

gotta wonder if 9.-9.50 is another opp to play it to 11.50