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SEC/Sec. 16 Filings

8-K
ORASURE TECHNOLOGIES INC filed this Form 8-K on 08/08/2018
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Three Months Ended

 

 

 

Six Months Ended

 

 

 

 

June 30,

 

 

 

June 30,

 

 

 

 

2018

 

 

2017

 

 

%

Change

 

 

 

2018

 

 

2017

 

 

%

Change

 

 

Other Revenues

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Royalty income

 

$

2,092

 

 

$

 

 

N/A

 

 

 

$

3,694

 

 

$

 

 

N/A

 

 

BARDA funding

 

 

1,920

 

 

 

1,044

 

 

 

84

 

%

 

 

3,458

 

 

 

2,108

 

 

 

64

 

%

Charitable support reimbursement

 

 

795

 

 

 

 

 

N/A

 

 

 

 

1,324

 

 

 

 

 

N/A

 

 

Other revenues

 

$

4,807

 

 

$

1,044

 

 

 

360

 

%

 

$

8,476

 

 

$

2,108

 

 

 

302

 

%

 

Condensed Consolidated Balance Sheets (Unaudited)

 

 

June 30, 2018

 

 

December 31, 2017

 

Assets

 

 

 

 

 

 

 

 

Cash and cash equivalents

 

$

71,069

 

 

$

72,869

 

Short-term investments

 

 

74,269

 

 

 

83,028

 

Accounts receivable, net

 

 

31,648

 

 

 

42,521

 

Inventories

 

 

20,599

 

 

 

19,343

 

Other current assets

 

 

4,637

 

 

 

4,144

 

Property and equipment, net

 

 

23,946

 

 

 

21,372

 

Intangible assets, net

 

 

6,622

 

 

 

8,223

 

Goodwill

 

 

19,231

 

 

 

20,083

 

Long-term investments

 

 

35,828

 

 

 

20,690

 

Other non-current assets

 

 

4,513

 

 

 

3,928

 

Total assets

 

$

292,362

 

 

$

296,201

 

 

 

 

 

 

 

 

 

 

Liabilities and Stockholders’ Equity

 

 

 

 

 

 

 

 

Accounts payable

 

$

9,659

 

 

$

10,228

 

Deferred revenue

 

 

1,621

 

 

 

1,314

 

Other current liabilities

 

 

9,837

 

 

 

20,695

 

Other non-current liabilities

 

 

4,474

 

 

 

3,932

 

Deferred income taxes

 

 

1,600

 

 

 

1,951

 

Stockholders’ equity

 

 

265,171

 

 

 

258,081

 

Total liabilities and stockholders’ equity

 

$

292,362

 

 

$

296,201

 

 

 

 

Six Months Ended

 

 

 

June 30,

 

Additional Financial Data  (Unaudited)

 

2018

 

 

2017

 

Capital expenditures

 

$

4,484

 

 

$

1,567

 

Depreciation and amortization

 

$

3,746

 

 

$

2,891

 

Stock-based compensation

 

$

11,262

 

 

$

3,631

 

Cash provided by operating activities

 

$

13,928

 

 

$

21,704

 

 

Conference Call

The Company will host a conference call and audio webcast for analysts and investors to discuss the Company’s 2018 second quarter financial results, certain business developments and financial guidance for the third quarter of 2018, beginning today at 5:00 p.m. Eastern Time (2:00 p.m. Pacific Time). On the call will be Dr. Stephen S. Tang, President and Chief Executive Officer, and Roberto Cuca, Chief Financial Officer. The call will include prepared remarks by management and a question and answer session.

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