Oxford Immunotec revenue up 12%
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Oxford Immunotec's Marlborough offices. The company is still unprofitable but continues to raise revenues.
Medical device company Oxford Immunotec neared a return to profitability in the first quarter, as revenue rose 12 percent, the company reported Tuesday.
Revenue, which hit $29.3 million, was due in large part to sales of its tuberculosis test, which grew by 17 percent and hit an all-time high for the company in the United States.
Net loss for the second quarter was $6.5 million, or $0.25 per share, compared to $16.8 million in the second quarter of 2017.
The British company, which has offices in Marlborough, will have to report even sharper sales increases to keep a streak going.
In March, Oxford Immunotec reported 20-percent year-to-year revenue growth for the 13th consecutive year. On Tuesday, the company said it continues to forecast full-year 2018 revenue of between $112 million and $115 million, for 9- to 12-percent year-over-year growth.
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