Oxford Immunotec (OXFD) Misses Q3 EPS by 46c, Slight Miss on Revenues; Offers FY17 Revenue Guidance Below Consensus

Oxford Immunotec (NASDAQ: OXFD) reported Q3 EPS of ($0.70), $0.46 worse than the analyst estimate of ($0.24). Revenue for the quarter came in at $30.4 million versus the consensus estimate of $30.05 million.

Business Outlook

We expect to report revenue of between $25.4 and $26.4 million for the fourth quarter of 2017.

We now expect to report full year 2017 revenue of between $103.5 and $104.5 million, representing 20% - 21% year-over-year growth. We expect revenue to increase approximately 21% to 22% for the year using constant exchange rates. This compares to prior revenueguidance of between $103 and $106 million.

Highlights:

• Third quarter revenue of $30.4 million, an increase of 17% compared to prior year period
• Continued growth from both the Tuberculosis (TB) and Tick-borne disease franchises, with double-digit revenue growth in all three geographies served
• Gross margin improved by 450 basis points on a sequential basis, driven by strong progress in TB margins

GUIDANCE:

Oxford Immunotec sees FY2017 revenue of $103.5-104.5 million, versus the consensus of $104.56 million.

For earnings history and earnings-related data on Oxford Immunotec (OXFD) click here.

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