Print Page  Close Window

SEC/Sec. 16 Filings

8-K
ORASURE TECHNOLOGIES INC filed this Form 8-K on 08/08/2018
Entire Document
 << Previous Page | Next Page >>

Domestic professional HIV sales continue to decline and decreased 22% to $3.9 million in the second quarter of 2018, compared to $5.0 million in the second quarter of 2017, due to previously described market factors.  

International HCV sales in the second quarter of 2018 decreased 72% to $1.5 million from $5.3 million in the same period of 2017, primarily due to the non-renewal of a foreign government supply contract in support of a country-wide HCV eradication program and the loss of a multi-national humanitarian organization customer who switched to a competing product due to cost.  These losses were partially offset by an increase in sales into Asia and Africa as a result of the implementation of new programs or studies.  Domestic HCV sales decreased 27% in the second quarter of 2018 to $1.7 million from $2.4 million in the prior-year period, primarily due to the non-renewal or delay of grant funding and the discontinuation of a large NGO testing program.

Sales of our cryosurgical systems product decreased 25% in the second quarter of 2018 to $2.4 million compared to $3.2 million in the second quarter of 2017.  Sales of our domestic Histofreezer® products sold to physician offices decreased 26% to $1.1 million primarily due to the timing of orders placed by our distributors and competitive losses.  Sales of our international OTC cryosurgical product decreased 33% to $765,000 in the second quarter of 2018 compared to $1.1 million in the second quarter of 2017 primarily due to lower sales in Latin America.

Other revenues were $4.8 million in the current quarter, representing $2.1 million of royalty income associated with a litigation settlement agreement, $1.9 million of funding from BARDA for the development of our Ebola and Zika products, and $795,000 of cost reimbursement under our charitable support agreement with the Gates Foundation.

Gross Profit – Roberto Cuca

Gross profit percentage for the second quarter of 2018 was 59% compared to 63% reported for the second quarter of 2017.  Gross profit percentage for the current quarter decreased versus the prior year primarily due to product mix, partially offset by the aforementioned increase in Other Revenues.

4

 


 << Previous Page | Next Page >>