Oxford Immunotec reports $149K loss as revenues drop 8%
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Oxford Immunotec's Marlborough offices
Diagnostic company Oxford Immunotec, which has U.S. headquarters in Marlborough, reported a $149,000 loss in net income in the company’s third quarter, according to an earnings report released on Tuesday.
During the same quarter last year, the company reported $717,000 in profit, marking a 792% decrease year to year.
All told, the company reported $19.4 million in revenue, an 8% decrease from the $21.2 million in revenue reported during the same quarter last year.
While the company has reported financial struggles during the coronavirus pandemic, it has continued working on responses to the virus, announcing in October it has teamed up with the United Kingdom’s Vaccines Taskforce, a group formed by the government to assess vaccine suitability for the country’s residents.
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