On 19 March 2020, Oxford Immunotec Global PLC (NASDAQ: OXFD) stock observed trading -47.04% off 52-week high price. On the other end, the stock has been noted -3.84% away from low price over the last 52-weeks. The stock disclosed a move of -33.72% away from 50 day moving average and -34.51% away from 200 day moving average. Moving closer, we can see that shares have been trading -25.13% off 20-day moving average.

Oxford Immunotec Global PLC (OXFD) recently reported fourth quarter and full year 2019 financial results.

Full Year 2019 Financial Results

Revenue for the full year of 2019 was $73.7M, representing a 23% increase from full year 2018 revenue of $59.8M. On a constant currency basis, revenue increased 24% versus the previous year period.

2019 full year product revenue was $69.8M, representing a 28% increase from product revenue of $54.7M in the full year of 2018. We saw strong growth across all three of our regions in 2019. Service revenue was $3.9M, representing a decrease of (22%) from service revenue of $5.1M in the full year 2018, but a raise of 16% when taking into account the impact of our decision to exit the blood donor screening business in 2018.

United States revenue was $24.2M in the full year of 2019, representing a 47% increase from revenue of $16.4M in the previous year period. The growth was Because of increased tuberculosis testing volumes and a higher selling price, contrast to 2018 sales to the U.S. laboratory services business at our intercompany transfer price that were formerly eliminated in consolidation. On a pro forma basis, U.S. revenues were up 16% not including the impact of exiting our blood donor screening business in 2018.

Europe & Rest of World, or ROW, revenue was $10.4M in the full year of 2019, up 14% when contrast to the full year of 2018. On a constant currency basis, Europe & ROW revenue increased 19% versus the full year 2018.

Asia revenue was $39.1M in the full year of 2019, representing a raise of 15% contrast to full year 2018 revenue of $34.2M. On a constant currency basis, Asia revenue increased 14% versus the full year of 2018.

Gross profit for the full year of 2019 was $54.4M, a raise of $11.5M from gross profit of $42.9M in the same period of 2018. Gross margin was 73.8%, a raise of about 200 basis points from gross margin of 71.8% in the full year of 2018.

Operating expenses were $60.5M in the full year of 2019, a decrease of $3.1M contrast to $63.6M in the full year of 2018.

Net loss for the full year of 2019 was $1.8M, or $0.07 per share on a basic basis, contrast to net income in the same period of 2018 of $120.8M, or $4.65 per share on a basic basis. Basic net income/loss per share was based on 26,569,342 and 25,982,809 weighted average ordinary shares outstanding for the fourth quarters of 2019 and 2018, respectively.

On a diluted basis, net loss for the full year of 2019 was $0.07 per share, contrast to net income in the same period of 2018 of $4.58 per share. Diluted net income/loss per share was based on 26,569,342 and 26,397,875 weighted average ordinary shares outstanding for the fourth quarters of 2019 and 2018, respectively.

EBITDA for the full year of 2019 was a loss of $6.3M contrast to a loss of $19.2M in the full year of 2018. Adjusted EBITDA was a loss of $1.3M for the full year of 2019 contrast to a loss of $9.9M in the same period in 2018. Both EBITDA and Adjusted EBITDA are non-GAAP measures. For reconciliations of GAAP to Non-GAAP measures, refer to the “Reconciliation of net income (loss) to Adjusted EBITDA” below.

We finished the fourth quarter of 2019 with a cash position of $181.3M. During the fourth quarter of 2019, we repurchased $3.7M of shares at an average price per share of $15.54 under our Share Repurchase Program. As of the date of this earnings release, during the first quarter of 2020, we have purchased an additional $6.0M of shares at an average price per share of $15.61.

The United Kingdom based company Oxford Immunotec Global PLC moved with change of -9.29% to $9.76 with the total traded volume of 190099 shares in recent session versus to an average volume of 118.37K. The stock was observed in the 5 days activity at -19.93%. The average volatility for the week and month was at 12.45% and 6.02% respectively. There are 28.77M shares outstanding and 21.68M shares are floated in market.

 

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