Revenue during the quarter grew 11.88 percent to $32.55 million from $29.09 million in the previous year period. Gross margin for the quarter contracted 743 basis points over the previous year period to 62.40 percent. Total expenses were 51.24 percent of quarterly revenues, down from 90.72 percent for the same period last year. This has led to an improvement of 3949 basis points in operating margin to 48.76 percent.

Operating income for the quarter was $15.87 million, compared with $2.70 million in the previous year period.

"We are extremely pleased with our financial performance and the progress made on our growth objectives during the first quarter," said Douglas A. Michels, president and chief executive officer of OraSure Technologies, Inc. "Product sales increased 25% over the prior year, led by strong results from our molecular business. International sales of our OraQuick HIV self-test and OraQuick HCV product were also significant contributors in the quarter. Our business momentum remains strong and we are well positioned to further capitalize on the exciting market opportunities we are pursuing."

For the second-quarter, OraSure Technologies, Inc. projects revenue to be in the range of $36.50 million to $37 million. It forecasts diluted earnings per share to be in the range of $0.07 to $0.08 for the same period.