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Luminex Corporation Reports Third Quarter 2010 Results

Thu, 11/04/2010 - 12:33pm
Bio-Medicine.Org

AUSTIN, Texas, Nov. 4, 2010 /PRNewswire-FirstCall/ -- Luminex Corporation (Nasdaq: LMNX) today announced financial results for the third quarter and nine months ended September 30, 2010.  Financial and operating highlights include the following:

Consolidated third quarter revenue was $33.9 million, a 16 percent increase over the third quarter of 2009 Luminex launched new MAGPIX® multiplexing system bringing affordable multiplexing to laboratories worldwide Third quarter 2010 shipments of 231 multiplexing analyzers that included 41 MAGPIX systems, resulting in cumulative life-to-date multiplexing analyzer shipments of 7,414, up 14% from a year ago. This compares to shipments of 259 multiplexing analyzers in the third quarter of 2009. Also included in system sales are 28 BSD sample handling systems Consolidated gross profit margin was 65 percent for the third quarter of 2010 Operating income for the third quarter of 2010 was $155,000 compared with an operating loss of $512,000 for the same period last year Received FDA clearance for CYP450 2D6 assay, the first multiplexed assay addressing the area of Personalized Medicine. The company plans to launch the 2D6 assay by year end Won prestigious 2010 Prix Galien USA Award for Luminex's innovative xTAG® Respiratory Viral Panel (RVP) named "Best Medical Technology"

REVENUE SUMMARY(in thousands, except percentages)Three Months EndedSeptember 30,Variance20102009($)(%)(in thousands, except percentages)System sales

$

8,085$

9,166$

(1,081)-12%Consumable sales

8,6336,0622,57142%Royalty revenue

5,6604,69996120%Assay revenue

7,8636,1991,66427%All other revenue

3,6322,99264021%$

33,873$

29,118$

4,75516%Nine Months EndedSeptember 30,Variance20102009($)(%)(in thousands, except percentages)System sales

$

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