Bethlehem’s OraSure Technologies Inc. has posted a second profitable year, with 2016’s revenue even higher than 2015.
The company reported $128.2 million in net revenue for 2016, a 7 percent improvement from last year.
“Our fourth quarter financial results exceeded expectations on the top and bottom lines,” said Douglas A. Michels, president and CEO of OraSure Technologies. “A major contributor to growth during both the quarter and full-year period was our international business. Expanding international sales of our HIV self-test and HCV [Hepatitis C virus] product is a critical component of OraSure’s global growth strategy.”
OraSure is a developer, manufacturer and distributor of diagnostic collection devices, including the OraQuick platform for rapid HIV and Hepatitis C testing.
Last year, it also received government contracts to study the use of its technology in testing for the Ebola and Zika viruses.
Under its subsidiary, DNA Genotek, the company also is gaining a stronger foothold in the consumer DNA testing market, where Michels said there has been a great increase in interest recently from the public.
Genotek started providing the technology in partnership with the consumer genetic information company Helix in November.
“We expect sales to ramp up significantly in 2017,” he said. “We expect Helix to be a strong contributor for 2017 and beyond.”
The company is predicting consolidated net revenues to range from $31 million to $31.5 million for the first quarter 2017.