Revenue during the quarter went down marginally by 0.74 percent to $46.81 million from $47.16 million in the previous year period. Gross margin for the quarter contracted 405 basis points over the previous year period to 62.92 percent. Total expenses were 78.45 percent of quarterly revenues, up from 71.19 percent for the same period last year. That has resulted in a contraction of 726 basis points in operating margin to 21.55 percent.

Operating income for the quarter was $10.08 million, compared with $13.59 million in the previous year period.

John A. Kraeutler, Chief Executive Officer and Chairman of the Board said, "The first quarter of fiscal 2017 represents a contrast of strong performance from our Life Science and Magellan Diagnostics business units, with significant weakness coming from our core diagnostics business in the U.S. (part of the Americas region). Life Science revenues grew by 10% (12% in constant currency) over the comparable quarter last year. Magellan Diagnostics reported revenues that increased by 32% over the comparable period last year, which was prior to our acquisition in late March 2016. With regard to our EMEA diagnostics unit, we experienced continued improvement in performance, with constant currency growth of 5%, driven largely by positive traction of our illumigene Malaria test and related molecular products.