AUSTIN, Texas, Feb. 1, 2016 /PRNewswire/ -- Luminex Corporation (NASDAQ:LMNX) today announced financial results for the fourth quarter and year ended December 31, 2015. Financial and operating highlights for the fourth quarter and full year 2015 include the following:
- Consolidated fourth quarter revenue of $60.4 million, a 4 percent increase compared to the fourth quarter of 2014; full-year 2015 revenue was $237.7 million, a 5 percent increase over 2014.
- Fourth quarter assay revenue of $26.9 million, a 12 percent increase over the fourth quarter of 2014; full-year 2015 assay revenue of $101.2 million, a 15 percent increase over 2014.
- Fourth quarter system revenue of $8.5 million, a 24 percent increase over the fourth quarter of 2014; full-year 2015 system revenue of $30.7 million, a 5 percent increase over 2014.
- GAAP net income for the fourth quarter and full-year of 2015 was $20.4 million and $36.9 million, or $0.47 and $0.86 per diluted share, respectively. Non-GAAP net income for the fourth quarter and full-year 2015 was $24.1 million and $54.5 million, or $0.56 and $1.28 per diluted share, respectively (see Non-GAAP reconciliation).
- Expanded full-year 2015 operating margins to 16% from 12% in 2014 as a result of both increased revenues and significant expense control.
- Cash and short and long-term investments at quarter’s end totaled approximately $148 million, an increase of approximately $40 million compared with year-end 2014.
- In December, Luminex announced the Company had received FDA Clearance for NxTAG® Respiratory Pathogen Panel.
“In 2015, Luminex achieved all of its major product development and regulatory milestones, including FDA clearances of the NxTAG RPP assay, the ARIES sample to answer molecular system, and the ARIES HSV1&2 assay, as well as our initial goal of placing 30 ARIES systems. We generated solid financial results for the year, achieving record revenue of $238 million, gross margins of 71% and generated over $40 million of cash flow,” said Homi Shamir, President and Chief Executive Officer of Luminex. “Moving forward, we will continue to leverage our balanced business model and strong financial position to accelerate future revenue and earnings growth. In addition, we are focused on executing a successful market introduction of ARIES, which we anticipate will accelerate over time with the expansion of available ASR products and FDA clearance for additional assays. In addition, we continue to make good progress with our next-generation ARIES chemistry and expect to have a first assay enter clinical trials in the second half of 2017.
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