OPKO Health, Inc. reported consolidated earnings results for the second quarter and six months ended June 30, 2018. For the quarter, the company announced total revenues of $263.7 million compared to $292.6 million a year ago. These decreases were partially offset by volume in reimbursement increase in genomics testing. Operating loss was $5.1 million compared to $25.8 million a year ago. Income before income taxes and investment losses was $3.0 million compared to loss of $22.3 million a year ago. Net loss was $6.2 million or $0.01 per basic and diluted share compared to $16.9 million or $0.04 per diluted share a year ago.

For the six months, the company announced total revenues of $518.6 million compared to $559.0 million a year ago. Operating loss was $47.7 million compared to $71.0 million a year ago. Loss before income taxes and investment losses was $38.5 million compared to $61.6 million a year ago. Net loss was $49.3 million or $0.09 per basic and diluted share compared to $51.4 million or $0.11 per diluted share a year ago.

Looking forward to the third quarter, the company expects revenue from services to be between $200 million and $220 million. The company expects product revenues for the third quarter to come in between $28 million and $32 million, including revenues from RAYALDEE between $5.7 million and $6.5 million. While revenues from the transfer of an intellectual property expected to be between $18 million and $23 million, including several nonrecurring milestone payments anticipated related to RAYALDEE partnerships.

For the full year, the company continues to expect effective tax rate to be in the single digits.