AUSTIN, Texas, Oct. 27, 2014 /PRNewswire/ -- Luminex Corporation (NASDAQ: LMNX) today announced financial results for the third quarter ended September 30, 2014. Financial and operating highlights include the following:
- Consolidated revenue of $56.7 million, a 12 percent increase over the third quarter of 2013.
- Assay revenue of $22.1 million, a 37 percent increase over the third quarter of 2013. Infectious disease assay sales comprised approximately 65 percent of total assay sales, with genetic testing assays representing 35 percent.
- Royalty revenue of $9.7 million, an 8 percent increase over the third quarter of 2013.
- Shipments of 269 multiplexing analyzers, which included 115 LX systems, 122 MAGPIX systems, and 32 FLEXMAP 3D Systems.
- GAAP net income was $5.6 million, or $0.13 per diluted share. This compares to a GAAP net income of $796,000, or $0.02 per diluted share for the third quarter of 2013.
- Non-GAAP net income was $11.5 million or $0.27 per diluted share, which compares with $2.3 million, or $0.06 per diluted share in the third quarter of 2013. (see Non-GAAP reconciliation)
- Received FDA Clearance to add 3 new clinical targets and additional sample type for use with xTAG® Gastrointestinal Pathogen Panel (GPP).
“We completed a strong quarter, driven primarily by growth in assay revenues that was well-balanced across our major product categories,” said Harriss T. Currie, Senior Vice President and Chief Financial Officer. “This resulted in improved results at the net profit line. Cash flow also was positive for the quarter notwithstanding substantial capital investments in our innovative pipeline.”
“With the recent appointment of Nachum ‘Homi’ Shamir as President and CEO, we believe we are well positioned to continue executing our vision to deliver innovative diagnostic solutions to simplify and speed the delivery of health care. As we prepare for the launch of several key pipeline products in the near future, we are very pleased to have a talented and accomplished executive to lead the Company into the next stage of growth,” said Wally Loewenbaum, Chairman of the Company.
“I am excited to join Luminex at this pivotal time in the Company’s history. As I conduct my strategic and operational review, I am gaining greater insights into the business and look forward to contributing to the Company’s record of market leadership and strong financial performance. With its history of innovation, its talented, dedicated workforce, and a compelling pipeline of highly differentiated products, I believe Luminex is uniquely positioned to successfully execute in the very competitive healthcare marketplace and deliver maximum value to our stakeholders,” said Homi Shamir, President and CEO of Luminex.
To read full press release, please click here.
Help employers find you! Check out all the jobs and post your resume.
