Oxford Immunotec revenue up, net loss deepens
Medical diagnostics firm Oxford Immunotec of Marlborough finished last year with a 19-percent year-over-year increase in revenue in the fourth quarter, part of a 28-percent jump for the entire year, the company reported Tuesday.
Oxford, which has dual headquarters in Marlborough and in the United Kingdom, said it took in $12.1 million during the quarter that ended Dec. 31. In the same quarter last year, revenue totaled $10.2 million.
For the year, Oxford’s revenue totaled $49.5 million, up from $38.8 million in 2013.
But the company — despite increases in gross profit for the quarter and year — lost $6.7 million for the quarter and $22.2 million for the year, dragged down by operational overhead. The numbers for last year were $3.3 million and $8.7 million, respectively.
Still, the company’s CEO, Peter Wrighton-Smith, was hopeful about the road ahead.
"We are pleased with the continued strong performance in the fourth quarter and the progress we made this past year," he said in a statement. "We remain excited about the many future growth opportunities for our business."
Oxford expects 2015 revenue of between $60 million and $65 million, which would represent growth in the range of 21 to 31 percent. It also forecasts revenue for the quarter of between $13.2 million and $13.7 million.
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