Oxford Immunotec revenue soars, firm says
Medical diagnostics firm Oxford Immunotec of Marlborough said revenues for its most recent quarter and for 2013 are up by nearly double over the previous year.
In a preliminary estimate of its financial performance last year, Oxford said revenues for 2013 will fall in between $38.6 million and $39 million, a jump of about 88 percent over 2013. And the company, which has co-headquarters in Oxford, United Kingdom, predicts 2014 revenues to come in even higher, at between $47 million and $50 million.
In its preliminary fourth-quarter 2013 report, Oxford estimated revenue of between $10.1 million and $10.5 million, an increase of between 91 and 99 percent over the fourth quarter of 2012.
"We are pleased with our revenues in the fourth quarter, which came in ahead of our expectations despite the normal fourth quarter seasonality in our business," CEO Peter Wrighton-Smith said in a statement. "We are enthusiastic about the opportunities to continue to grow the business in 2014."
Oxford said it will announce complete financial and operating results of its fourth quarter and for 2013 before the stock market opening on March 4.
Oxford went public in November, and later raises $62.8 million through an initial public offering. Its stock trades on the Nasdaq Global exchange under the symbol OXFD.
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