BETHLEHEM, Pa. (AP) _ OraSure Technologies Inc. (OSUR) on Wednesday reported first-quarter net income of $3.8 million, after reporting a loss in the same period a year earlier.
On a per-share basis, the Bethlehem, Pennsylvania-based company said it had net income of 5 cents.
The results beat Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was for earnings of 3 cents per share.
The diagnostic test maker posted revenue of $58.6 million in the period, which also topped Street forecasts. Three analysts surveyed by Zacks expected $58.1 million.
For the current quarter ending in July, OraSure said it expects revenue in the range of $55 million to $60 million.
OraSure shares have declined 15% since the beginning of the year. In the final minutes of trading on Wednesday, shares hit $9.02, a decline of 42% in the last 12 months.
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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on OSUR at https://www.zacks.com/ap/OSUR
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