OraSure (OSUR) is trading fractionally lower today,even though management delivered better-than-expectedquarterly results overnight. The company had a surpriseprofit of $0.03 a share, versus consensus estimates of a$0.01 loss, as revenue grew 7% from the previous year, to$29.9 million.
Orasure’s Hepatitis C and molecular collection businessesdrove the upside in the period. Looking ahead to the fourthquarter, management’s guidance for earnings of $0.03 to$0.04 is also higher than the consensus analyst estimate.The company also has $108 million ($1.90 a share) of cashand equivalents on its debt-free balance sheet.
There were no surprises on the conference call, and wemaintain our One rating on the stock, which recently changedhands around $5.23. Even though the company is 10% above ouraverage cost-basis, we’d consider adding to our positionunder $5.
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