Oxford Immunotec (OXFD) Stock News, Apr-May 2020

Oxford Immunotec reported a Q1 2020 revenue of $13.9 million, down 6% from $14.8 million in Q1 2019, primarily due to COVID-19 impacts in China. Gross margins improved to 74%, up 270bps year-over-year. The company ended the quarter with $166 million in cash. Notably, U.S. revenues rose by 4% to $5.7 million, while Asia saw a 22% decline. The company anticipates Q2 revenues to range between $5 million and $6 million, predicting it to be the lowest quarter of the year.