AUSTIN, Texas, July 28, 2014 /PRNewswire/ -- Luminex Corporation (NASDAQ:LMNX) today announced financial results for the second quarter ended June 30, 2014. Financial and operating highlights include the following:
- Consolidated second quarter revenues of $55.6 million, a 2 percent increase over the second quarter of 2013.
- Second quarter system sales of $8.3 million, a 9 percent increase over the second quarter of 2013.
- Second quarter shipments of 268 multiplexing analyzers, which included 148 LX systems, 96 MAGPIX systems, and 24 FLEXMAP 3D Systems.
- Second quarter assay revenue of $19.9 million. Infectious disease assay sales comprised approximately 67 percent of total assay sales, with genetic testing assays representing 33 percent.
- Second quarter royalty revenue of $9.5 million, a 10 percent increase over the second quarter of 2013.
- GAAP net income for the second quarter was $4.7 million, or $0.11 per diluted share. This compares to a GAAP net income of $3.7 million, or $0.09 per diluted share for the second quarter of 2013.
- Non-GAAP net income for the second quarter was $8.5 million or $0.20 per diluted share. This compares to non-GAAP net income of $7.1 million, or $0.17 per diluted share in the second quarter of 2013. (see Non-GAAP reconciliation)
“We delivered another quarter of strong financial performance, driven by growth across systems, consumables, and royalty revenue. We also were pleased with the relative performance of our assay business when compared with the same quarter in 2013 which included substantial non-recurring assay revenue,” said Patrick J. Balthrop, president and chief executive officer of Luminex. “As we proceed into the second half of 2014, we are focused on execution and continuing the momentum that we have built during the first two quarters.”
“Our R&D team continues to achieve key development milestones with our pipeline products, including ARIES, our sample-to-answer real-time PCR instrument, and our new multiplexing technology, NxTAG. As we engage with customers during the development process, the enthusiastic response we have received from laboratories continues to encourage us that these pipeline products will be highly successful in the marketplace, strategically positioning Luminex for sustainable growth in the near future.”
To read full press release, please click here.
Help employers find you! Check out all the jobs and post your resume.
