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Press Release

Luminex Corporation Reports Third Quarter 2016 Results; Raises Full Year Guidance

Luminex Corporation
Posted on: 31 Oct 16

AUSTIN, Texas, Oct. 31, 2016 /PRNewswire/ -- Luminex Corporation (NASDAQ: LMNX) today announced financial results for the third quarter ended September 30, 2016.  Financial and operating highlights include the following:

Consolidated third quarter revenue of $71.2 million, an 18% increase compared to the third quarter of 2015. 

In the third quarter, Nanosphere contributed revenue of $7.4 million, growth of more than 50% over year-ago period.

GAAP net income for the third quarter was $2.8 million, or $0.06 per diluted share. Non-GAAP net income for the third quarter was $9.1 million, or $0.21 per diluted share (see Non-GAAP reconciliation).

In August, we received FDA clearance for the ARIES® Flu A/B & RSV assay as well as Emergency Use Authorization for the xMAP® MultiFLEX™ Zika RNA Assay.

Appointed Tadd S. Lazarus, MD to the position of senior vice president and chief medical officer effective October 31, 2016. Previously, Dr. Lazarus served as chief medical officer at Qiagen, Inc. and chief medical officer and vice president of clinical affairs at Gen-Probe Inc. (now Hologic).

"We are pleased to report another quarter of record revenue, driven by our molecular business, which now includes Nanosphere. We are encouraged by Nanosphere's momentum, especially considering that integration, training and cross-selling initiatives are in the early stages. Leveraging its leadership position in molecular testing, Luminex is expanding its product offerings and is now the only company able to provide low and high plex, targeted and syndromic molecular testing solutions to microbiology and molecular diagnostic labs," said Homi Shamir, President and Chief Executive Officer of Luminex. "In addition, our partner business continues to perform at a high level, and should generate over 10% growth in 2016. In summary, we have made excellent progress so far this year and look forward to finishing 2016 strongly. We continue to execute on key programs and are well-positioned to achieve our goals of accelerating revenue, profitability and cash flow over the next few years."

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Editor's Details

Mike Wood

Last updated on: 31/10/2016

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