Oxford Immunotec (OXFD) Tops Q1 EPS by 10c, Revenues Beat

Oxford Immunotec (NASDAQ: OXFD) reported Q1 EPS of ($0.06), $0.10 better than the analyst estimate of ($0.16). Revenue for the quarter came in at $14.8 million versus the consensus estimate of $13.82 million.

• First quarter revenue of $14.8 million, an increase of 27% compared to prior year period
• Gross margins expanded 360bps to 71.4%
• 86% reduction in net loss to $1.5m

“The Company got off to a strong start in 2019 with robust growth in all geographies and continued execution on our strategic priorities” said Dr. Peter Wrighton-Smith, Chief Executive Officer of Oxford Immunotec. “As we repurpose the Company around our more focused business model, we are starting to see the emergence of higher growth, and improving profitability metrics.”

GUIDANCE:

Oxford Immunotec sees FY2019 revenue of $69-72 million.

• Based off the mid-point of this annual revenue guidance range, the company expects 27 to 28% of full year revenues to fall in the second quarter.

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

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