Oxford Immunotec 2019 revenue up 23%
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Oxford Immunotec's Marlborough offices
Oxford Immunotec finished the year strong, with an 18% fourth-quarter revenue gain, bringing the Marlborough medical diagnostics firm’s 2019 revenue growth to 23%.
The company reported fourth quarter revenue of $18.1 million and 2019 revenue of $73.7 million. Growth in the United States was attributed by company officials to increased tuberculosis testing volumes and a higher selling price.
Despite the revenue increase, the company lost $1.8 million, or 7 cents per share, in 2019, a significant decrease after profiting $120.8 million, or $4.65 per share, in 2018. The 2018 figure, though, was bolstered by the company's sale of its U.S. laboratory services business.
The stock market responded well to the news, with the company’s stock climbing 4% since the announcement to $13.71 a share on the Nasdaq, despite the ongoing market volatility related to the coronavirus.
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