OraSure Boosts Targets

Shares rise in after-hours trading.
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OraSure Technologies

(OSUR) - Get Report

, a maker of diagnostic tests, reported earnings and revenue that exceeded expectations for the third quarter.

Revenue fell from the prior year, however, to $17.6 million from $18.1 million. Analysts were expecting $17.4 million.

OraSure earned $2.1 million, or 5 cents a share, in the quarter, including costs related to stock-option expensing and a provision for income taxes. Excluding the charges, the company would have earned $4.3 million, or 9 cents a share. Analysts were expecting OraSure to earn a penny a share in the quarter.

Following the company's better-than-expected results in the third quarter, OraSure raised its full-year earnings guidance to between 10 cents and 11 cents. Full-year revenue is expected to reach between $67.5 million and $68 million, the company says.

Shares were up 4.4% to $7.77 in after-hours trading Wednesday.