2014 Q4 Form 10-K Financial Statement

#000119312516503534 Filed on March 14, 2016

View on sec.gov

Income Statement

Concept 2014 Q4 2014 Q3 2014 Q2
Revenue $28.68M $27.85M $26.40M
YoY Change -0.3% 12.87% 8.48%
Cost Of Revenue $10.71M $9.140M $10.39M
YoY Change -7.99% -6.14% 5.56%
Gross Profit $17.98M $18.71M $16.02M
YoY Change 4.96% 25.26% 10.46%
Gross Profit Margin 62.69% 67.18% 60.66%
Selling, General & Admin $16.72M $14.83M $16.25M
YoY Change -2.51% 3.56% -6.52%
% of Gross Profit 92.99% 79.3% 101.45%
Research & Development $3.820M $2.990M $2.771M
YoY Change 72.85% 11.99% 2.9%
% of Gross Profit 21.25% 15.99% 17.3%
Depreciation & Amortization $1.580M $1.624M $1.569M
YoY Change -7.06% -0.06% -3.09%
% of Gross Profit 8.79% 8.68% 9.8%
Operating Expenses $20.53M $17.82M $13.52M
YoY Change 5.99% 4.88% -32.66%
Operating Profit -$2.563M $882.0K $2.497M
YoY Change -142.27% -142.82% -144.78%
Interest Expense
YoY Change
% of Operating Profit
Other Income/Expense, Net $287.0K $268.0K -$142.0K
YoY Change 75.0% 553.66% -438.1%
Pretax Income -$2.276M $1.150M $2.355M
YoY Change -136.55% -156.96% -142.56%
Income Tax $376.0K $10.00K -$174.0K
% Of Pretax Income 0.87% -7.39%
Net Earnings -$2.652M $1.140M $2.529M
YoY Change -142.68% -160.25% -147.85%
Net Earnings / Revenue -9.25% 4.09% 9.58%
Basic Earnings Per Share -$0.05 $0.02 $0.05
Diluted Earnings Per Share -$0.05 $0.02 $0.04
COMMON SHARES
Basic Shares Outstanding 56.06M shares 56.02M shares 55.91M shares
Diluted Shares Outstanding 56.67M shares 57.24M shares

Balance Sheet

Concept 2014 Q4 2014 Q3 2014 Q2
SHORT-TERM ASSETS
Cash & Short-Term Investments $97.90M $98.90M $80.30M
YoY Change 5.04% 19.73% 4.29%
Cash & Equivalents $92.87M $93.86M $75.83M
Short-Term Investments $5.000M $5.000M $4.400M
Other Short-Term Assets $306.0K $273.0K $6.627M
YoY Change 53.0% -46.58% 1715.62%
Inventory $15.76M $14.84M $13.23M
Prepaid Expenses $1.140M
Receivables $16.14M $14.92M $14.15M
Other Receivables $0.00 $0.00 $0.00
Total Short-Term Assets $131.2M $130.0M $115.8M
YoY Change 9.73% 16.74% 7.52%
LONG-TERM ASSETS
Property, Plant & Equipment $17.93M $17.96M $18.47M
YoY Change 0.01% -0.17% 1.84%
Goodwill $21.73M $22.56M $23.67M
YoY Change -8.61% -7.95% -1.43%
Intangibles $17.51M $13.66M $20.44M
YoY Change -21.24% -42.36% -15.38%
Long-Term Investments
YoY Change
Other Assets $1.246M $1.102M $1.172M
YoY Change 70.92% 79.48% 185.85%
Total Long-Term Assets $58.42M $60.45M $63.76M
YoY Change -9.67% -9.52% -4.44%
TOTAL ASSETS
Total Short-Term Assets $131.2M $130.0M $115.8M
Total Long-Term Assets $58.42M $60.45M $63.76M
Total Assets $189.6M $190.5M $179.6M
YoY Change 2.92% 6.9% 2.95%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $7.148M $4.510M $4.647M
YoY Change 47.87% 16.87% 37.44%
Accrued Expenses $11.13M $9.203M $9.366M
YoY Change -14.58% -16.3% 14.28%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $26.46M $25.25M $14.71M
YoY Change 39.38% 30.67% -7.95%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $0.00 $0.00
YoY Change
Other Long-Term Liabilities $1.234M $1.090M $1.157M
YoY Change 82.27% 102.23% 202.09%
Total Long-Term Liabilities $1.234M $1.090M $1.157M
YoY Change 82.27% 102.23% 202.09%
TOTAL LIABILITIES
Total Short-Term Liabilities $26.46M $25.25M $14.71M
Total Long-Term Liabilities $1.234M $1.090M $1.157M
Total Liabilities $27.70M $26.34M $15.86M
YoY Change 40.86% 32.61% -3.03%
SHAREHOLDERS EQUITY
Retained Earnings -$178.3M -$175.7M -$176.8M
YoY Change 2.66% -2.36% -0.68%
Common Stock $344.9M $342.9M $341.1M
YoY Change 1.84% 1.68% 1.56%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $158.7M $160.9M $160.3M
YoY Change
Total Liabilities & Shareholders Equity $189.6M $190.5M $179.6M
YoY Change 2.92% 6.9% 2.95%

Cashflow Statement

Concept 2014 Q4 2014 Q3 2014 Q2
OPERATING ACTIVITIES
Net Income -$2.652M $1.140M $2.529M
YoY Change -142.68% -160.25% -147.85%
Depreciation, Depletion And Amortization $1.580M $1.624M $1.569M
YoY Change -7.06% -0.06% -3.09%
Cash From Operating Activities -$850.0K $18.78M -$2.730M
YoY Change -107.37% 205.86% 69.57%
INVESTING ACTIVITIES
Capital Expenditures -$660.0K $365.0K $1.341M
YoY Change -13.16% -39.57% 119.12%
Acquisitions
YoY Change
Other Investing Activities $0.00 -$550.0K -$4.430M
YoY Change
Cash From Investing Activities -$650.0K -$910.0K -$5.770M
YoY Change -14.47% 49.18% 845.9%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 570.0K 350.0K -10.00K
YoY Change 612.5% -83.33%
NET CHANGE
Cash From Operating Activities -850.0K 18.78M -2.730M
Cash From Investing Activities -650.0K -910.0K -5.770M
Cash From Financing Activities 570.0K 350.0K -10.00K
Net Change In Cash -930.0K 18.22M -8.510M
YoY Change -108.57% 229.48% 273.25%
FREE CASH FLOW
Cash From Operating Activities -$850.0K $18.78M -$2.730M
Capital Expenditures -$660.0K $365.0K $1.341M
Free Cash Flow -$190.0K $18.42M -$4.071M
YoY Change -101.55% 232.64% 83.21%

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CY2015Q4 us-gaap Deferred Compensation Plan Assets
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CY2015Q4 us-gaap Finite Lived Intangible Assets Amortization Expense Year Five
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CY2015Q4 us-gaap Assets Current
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CY2015Q4 us-gaap Goodwill
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CY2015Q4 us-gaap Cash And Cash Equivalents At Carrying Value
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CY2015Q4 us-gaap Finite Lived Intangible Assets Amortization Expense Year Four
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CY2015Q4 us-gaap Property Plant And Equipment Gross
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CY2015Q4 us-gaap Short Term Investments
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CY2015Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Intrinsic Value
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CY2015Q4 us-gaap Deferred Tax Assets Tax Credit Carryforwards Research
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CY2015Q4 osur Deferred Tax Liabilities Tax Credit Carryforwards
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CY2015Q4 osur Deferred Tax Assets Deferred Expense Capitalized Research And Development Costs
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CY2015Q4 osur Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Expected To Vest Number
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CY2015Q2 osur Contract Expiration Period
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CY2000Q3 osur Number Of Companies Merged
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CY2014Q4 osur Accruals For Purchase Of Property Plant And Equipment
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CY2015Q4 osur Accruals For Purchase Of Property Plant And Equipment
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CY2015Q3 osur Additional Contract Revenue From Clinical And Regulatory Activities
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CY2013 us-gaap Effective Income Tax Rate Reconciliation Foreign Income Tax Rate Differential
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CY2013 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Grants In Period
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CY2013 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Forfeitures In Period
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CY2013 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Forfeited In Period
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CY2013 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Vested In Period
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CY2013 us-gaap Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate
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CY2013 us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Expirations In Period Weighted Average Exercise Price
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CY2013 us-gaap Effective Income Tax Rate Reconciliation State And Local Income Taxes
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CY2013 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Dividend Rate
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6.94
CY2013 us-gaap Weighted Average Number Of Diluted Shares Outstanding
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55555000 shares
CY2013 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Gross
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984000 shares
CY2013 us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Exercises In Period Weighted Average Exercise Price
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5.07
CY2013 us-gaap Weighted Average Number Of Shares Outstanding Basic
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-420000
CY2013 us-gaap Research And Development Expense
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CY2013 us-gaap Allowance For Doubtful Accounts Receivable Write Offs
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0
CY2013 us-gaap Stock Issued During Period Shares Stock Options Exercised
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CY2013 us-gaap Allowance For Doubtful Accounts Receivable Period Increase Decrease
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18000
CY2013 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Weighted Average Volatility Rate
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CY2013 us-gaap Earnings Per Share Basic
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CY2013 us-gaap Effective Income Tax Rate Continuing Operations
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0.065 pure
CY2013 us-gaap Payments To Acquire Property Plant And Equipment
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2462000
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8300000
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CY2013 us-gaap Stock Issued During Period Value Stock Options Exercised
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CY2013 us-gaap Revenues
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CY2013 us-gaap Increase Decrease In Prepaid Deferred Expense And Other Assets
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CY2013 us-gaap Payments For Repurchase Of Common Stock
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CY2013 us-gaap Income Taxes Paid
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CY2013 us-gaap Valuation Allowance Deferred Tax Asset Change In Amount
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CY2013 us-gaap Stock Issued During Period Value Restricted Stock Award Net Of Forfeitures
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CY2013 us-gaap Increase Decrease In Accounts Receivable
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CY2013 us-gaap Adjustments To Additional Paid In Capital Share Based Compensation Stock Options Requisite Service Period Recognition
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2694000
CY2013 us-gaap Foreign Currency Transaction Gain Loss Before Tax
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CY2013 us-gaap Comprehensive Income Net Of Tax
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CY2013 us-gaap Unrecognized Tax Benefits Increases Resulting From Prior Period Tax Positions
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CY2013 us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
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CY2013 us-gaap Adjustments To Additional Paid In Capital Share Based Compensation Restricted Stock Units Requisite Service Period Recognition
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2878000
CY2013 us-gaap Sales Revenue Goods Net
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CY2013 us-gaap Income Tax Expense Benefit
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CY2013 us-gaap Share Based Compensation
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CY2013 us-gaap Deferred Federal Income Tax Expense Benefit
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CY2013 us-gaap Deferred State And Local Income Tax Expense Benefit
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CY2013 us-gaap Selling And Marketing Expense
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CY2013 us-gaap Lease And Rental Expense
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CY2013 us-gaap Cash And Cash Equivalents Period Increase Decrease
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CY2013 us-gaap Deferred Foreign Income Tax Expense Benefit
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CY2013 us-gaap Operating Expenses
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CY2013 us-gaap Net Cash Provided By Used In Investing Activities Continuing Operations
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CY2013 us-gaap Cost Of Goods Sold
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40351000
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1510000
CY2013 us-gaap Depreciation
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3026000
CY2013 us-gaap Depreciation Depletion And Amortization
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6552000
CY2013 us-gaap Deferred Income Tax Expense Benefit
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CY2013 us-gaap Defined Contribution Plan Cost Recognized
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CY2013 us-gaap Increase Decrease In Accrued Liabilities
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5373000
CY2013 us-gaap Current State And Local Tax Expense Benefit
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CY2013 us-gaap Allocated Share Based Compensation Expense
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CY2013 us-gaap Stock Repurchased And Retired During Period Value
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CY2013 us-gaap Advertising Expense
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CY2013 us-gaap Current Federal Tax Expense Benefit
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CY2013 us-gaap Foreign Income Tax Expense Benefit Continuing Operations
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CY2013 osur Stock Option Plan Gross Expense Arising From Equity Based Compensation
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CY2014 us-gaap Effective Income Tax Rate Reconciliation Foreign Income Tax Rate Differential
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CY2014 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Forfeited In Period
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CY2014 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Vested In Period
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CY2014 us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Expirations In Period Weighted Average Exercise Price
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CY2014 us-gaap Effective Income Tax Rate Reconciliation State And Local Income Taxes
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CY2014 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Dividend Rate
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5.77
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CY2014 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Gross
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1202000 shares
CY2014 us-gaap Current Foreign Tax Expense Benefit
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49000
CY2014 us-gaap Increase Decrease In Deferred Revenue
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6943000
CY2014 us-gaap Selling And Marketing Expense
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41118000
CY2014 us-gaap Lease And Rental Expense
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648000
CY2014 us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Exercises In Period Weighted Average Exercise Price
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5.09
CY2014 us-gaap Weighted Average Number Of Shares Outstanding Basic
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55949000 shares
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249000 shares
CY2014 us-gaap Allowance For Doubtful Accounts Receivable Period Increase Decrease
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253000
CY2014 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Weighted Average Volatility Rate
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5500000
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CY2014 us-gaap Payments For Repurchase Of Common Stock
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CY2014 us-gaap Income Taxes Paid
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CY2014 us-gaap Valuation Allowance Deferred Tax Asset Change In Amount
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CY2014 us-gaap Stock Issued During Period Value Restricted Stock Award Net Of Forfeitures
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CY2014 us-gaap Increase Decrease In Accounts Receivable
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CY2014 us-gaap Adjustments To Additional Paid In Capital Share Based Compensation Stock Options Requisite Service Period Recognition
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3081000
CY2014 us-gaap Foreign Currency Transaction Gain Loss Before Tax
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273000
CY2014 us-gaap Payments To Acquire Short Term Investments
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9407000
CY2014 us-gaap Comprehensive Income Net Of Tax
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25000
CY2014 us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
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CY2014 us-gaap Revenue Recognition Sales Returns Reserve For Sales Returns
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437000
CY2014 us-gaap Adjustments To Additional Paid In Capital Share Based Compensation Restricted Stock Units Requisite Service Period Recognition
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2663000
CY2014 us-gaap Sales Revenue Goods Net
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98894000
CY2014 us-gaap Income Loss From Continuing Operations Before Income Taxes Domestic
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1885000
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CY2014 us-gaap Foreign Currency Transaction Gain Loss Unrealized
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305000
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CY2014 us-gaap Income Tax Expense Benefit
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343000
CY2014 us-gaap Share Based Compensation
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CY2014 us-gaap Unrecognized Tax Benefits Decreases Resulting From Prior Period Tax Positions
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3000
CY2014 us-gaap Deferred Federal Income Tax Expense Benefit
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CY2014 us-gaap Deferred State And Local Income Tax Expense Benefit
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CY2014 us-gaap Cash And Cash Equivalents Period Increase Decrease
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CY2014 us-gaap Deferred Foreign Income Tax Expense Benefit
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294000
CY2014 us-gaap Operating Expenses
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CY2014 us-gaap Net Cash Provided By Used In Investing Activities Continuing Operations
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CY2014 us-gaap Goodwill Translation Adjustments
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CY2014 us-gaap Net Cash Provided By Used In Financing Activities Continuing Operations
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476000
CY2014 us-gaap Research And Development Expense
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12058000
CY2014 us-gaap Allowance For Doubtful Accounts Receivable Write Offs
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CY2014 us-gaap Deferred Income Tax Expense Benefit
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565000
CY2014 us-gaap Increase Decrease In Accrued Liabilities
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CY2014 us-gaap Current State And Local Tax Expense Benefit
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CY2014 us-gaap Proceeds From Stock Options Exercised
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CY2014 us-gaap Allocated Share Based Compensation Expense
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3061000
CY2014 us-gaap Stock Repurchased And Retired During Period Value
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639000
CY2014 us-gaap Proceeds From Maturities Prepayments And Calls Of Shortterm Investments
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4432000
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23750000
CY2014 us-gaap Effect Of Exchange Rate On Cash And Cash Equivalents
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CY2014 us-gaap Advertising Expense
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6910000
CY2014 us-gaap Current Federal Tax Expense Benefit
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148000
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128000
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3081000
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FY
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0.14
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15773000
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P7Y
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362000 shares
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2015
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false
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0.0149 pure
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0.057 pure
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10-K
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0001116463
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P6Y
CY2015 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Forfeited In Period
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8.07
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Accelerated Filer
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<div> <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; MARGIN-LEFT: 2%; MARGIN-TOP: 18pt"> <i>Deferred Revenue</i></p> <p style="MARGIN-BOTTOM: 0pt; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman; MARGIN-TOP: 6pt" align="justify">We record deferred revenue when funds are received prior to the recognition of the associated revenue. Deferred revenue as of December&#xA0;31, 2015 and 2014 includes customer prepayments of $784 and $613, respectively. Deferred revenue as of December&#xA0;31, 2015 and 2014 also includes $8,951 and $7,430, respectively, from AbbVie, which represents the excess of the payments received from AbbVie over the amounts earned and recognized ratably in our consolidated statement of operations.</p> </div>
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P6Y
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-0.206 pure
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P10Y
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0.015 pure
CY2015 dei Trading Symbol
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OSUR
CY2015 dei Current Fiscal Year End Date
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--12-31
CY2015 dei Entity Current Reporting Status
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Yes
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0.00 pure
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0.75 pure
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9.28
CY2015 dei Entity Registrant Name
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ORASURE TECHNOLOGIES INC
CY2015 dei Entity Well Known Seasoned Issuer
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No
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56846000 shares
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449000 shares
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CY2015 dei Entity Voluntary Filers
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No
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CY2015 us-gaap Weighted Average Number Of Shares Outstanding Basic
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56397000 shares
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2015-12-31
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404000
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3403000
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376000
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2642000
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104458000
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0
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587000
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1870000
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EarningsPerShareDiluted
0.08
CY2015Q4 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.08
CY2015Q4 us-gaap Net Income Loss
NetIncomeLoss
4616000
CY2015Q4 us-gaap Revenues
Revenues
32382000
CY2015Q4 us-gaap Operating Income Loss
OperatingIncomeLoss
4092000
CY2015Q4 us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
379000
CY2015Q4 us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
4471000
CY2015Q4 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
-145000
CY2015Q4 us-gaap Costs And Expenses
CostsAndExpenses
28290000

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