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The company's software-related revenues grew year over year, but its sequencing and molecular analysis revenues declined.

Total revenue during the third quarter was impacted by lower product sales in Africa, but the firm said it saw growth in the US, Latin America, and Asia Pacific.

The firm missed Wall Street expectations due in part to an elongated sales cycle and the timing of commercial go-lives.

As a result of its collaboration with Quest Diagnostics, Oxford Immunotec is experiencing a surge in orders from physician offices for its interferon gamma release assay TB kits.

The firm's diagnostics revenues decreased 9 percent to $33.4 million, and life sciences revenues increased 7 percent to $17.4 million.

The firm generated $56.5 million in revenue compared to $37.4 million in Q3 2018, and beat the consensus Wall Street estimate of $55.0 million

The firm's diagnostics revenues also grew 6 percent year over year with molecular diagnostics revenues up 9 percent.

The company processed more than 200,000 tests during the quarter, an increase of 20 percent compared to the 167,000 tests it processed in Q3 of last year.

OraSure will purchase Houston-based Diversigen, a microbiome and metagenomics consulting, sequencing, and data analysis service provider.

The company continues to move toward its planned merger with German diagnostics firm Curetis, which is expected to close early next year.

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