Alere (ALR) saw its loss widen to $114.05 million, or $1.38 a share for the quarter ended Dec. 31, 2016. In the previous year period, the company reported a loss of $19.07 million, or $0.31 a share.

Revenue during the quarter dropped 3.29 percent to $596.81 million from $617.14 million in the previous year period. Gross margin for the quarter expanded 516 basis points over the previous year period to 45.44 percent. Operating margin for the quarter stood at negative 2.59 percent as compared to a negative 2.87 percent for the previous year period.

Operating loss for the quarter was $15.45 million, compared with an operating loss of $17.69 million in the previous year period.

However, the adjusted EBITDA for the quarter stood at $81.53 million compared with $91 million in the prior year period. At the same time, adjusted EBITDA margin contracted 108 basis points in the quarter to 13.66 percent from 14.75 percent in the last year period.

"Alere delivered solid 2016 results by maintaining our discipline and staying focused on core business growth as a leader in point-of-care diagnostics. Excluding extraordinary costs and the impact of foreign currency exchange and divestitures, our operating earnings in 2016 were roughly in line with 2015," said Namal Nawana, chief executive officer of Alere. "We successfully accelerated growth in our global Infectious Disease business in 2016, achieving double-digit sales growth driven by the success of the Alere i molecular platform with an expanded menu of three assays. In addition, we continued to invest in global operations and infrastructure to strengthen the enterprise. We have seen a strong start to 2017 in each of our global business units and look forward to reporting our progress in the first quarter results."