Luminex Corporation Reports Unaudited Consolidated Earnings Results for the Third Quarter and Nine Months Ended September 30, 2015; Updates Revenue Guidance for the Full Year of 2015
Nov 2 15
Luminex Corporation reported unaudited consolidated earnings results for the third quarter and nine months ended September 30, 2015. For the quarter, the company’s revenue was $60,601,000 compared to $56,684,000 a year ago. Income from operations was $9,706,000 compared to $4,996,000 a year ago. Income before income taxes was $9,719,000 compared to $4,981,000 a year ago. Net income was $6,402,000 or $0.15 per basic and diluted share, compared to $5,550,000 or $0.13 per basic and diluted share, a year ago. Net cash provided by operating activities was $10,894,000 compared to $11,527,000 a year ago. Purchase of property and equipment was $2,731,000 compared to $5,540,000 a year ago. Adjusted net income was $9,263,000 or $0.22 per basic and diluted share, compared to $11,497,000 or $0.27 per basic and diluted share, a year ago.
For the quarter, the company’s revenue was $177,259,000 compared to $168,877,000 a year ago. Income from operations was $29,358,000 compared to $17,952,000 a year ago. Income before income taxes was $23,022,000 compared to $17,911,000 a year ago. Net income was $16,484,000 or $0.39 per basic and diluted share, compared to $16,241,000 or $0.39 per basic and diluted share, a year ago. Net cash provided by operating activities was $42,386,000 compared to $33,191,000 a year ago. Purchase of property and equipment was $15,299,000 compared to $11,795,000 a year ago. Adjusted net income was $30,441,000 or $0.72 per basic and diluted share, compared to $29,866,000 or $0.71 per basic and diluted share, a year ago.
The company updated revenue guidance for the fourth quarter and full year of 2015. The company updated its revenue guidance range for the full-year 2015 to between $235 million and $238 million. This would suggest fourth quarter 2015 revenues of between $57.7 million and $60.7 million. The company’s new 2015 revenue guidance range balances continued execution with respect to its molecular diagnostic assay portfolio, which the company expects to grow in the mid-teens for the full year 2015, incremental government contract and grant revenue, systems shipments slightly in excess of its initial expectations and consistency of the company's consumable strength. The company currently expects its full year effective tax rate to be approximately 25% to 30% as is reflected in its ETR for the year-to-date period.
Luminex Corporation Receives CE-IVD marking for its NxTAG® Respiratory Pathogen Panel
Oct 19 15
Luminex Corporation announced that it has received CE-IVD marking for its NxTAG® Respiratory Pathogen Panel. The Panel detects 21 clinically-relevant viral and bacterial respiratory pathogens, including the atypical bacteria Chlamydophila pneumoniae, Mycoplasma pneumoniae, and Legionella pneumophila. The NxTAG Respiratory Pathogen Panel is the only respiratory assay that easily enables laboratories to simultaneously detect 21 respiratory pathogens in a single closed tube system that scales to accommodate changes in throughput needed to respond to seasonal changes in demand, such as during flu season. The NxTAG Respiratory Pathogen Panel requires only minutes of hands-on time with no upstream reagent preparation. The simplified workflow allows extracted samples to be added directly to pre-plated, lyophilized reagents. The tubes are then sealed and ready for closed tube amplification and subsequent detection using the Luminex MAGPIX® instrument. The innovative tube strip design offers laboratories the flexibility to manage variable sample demand by processing a single sample or up to as many as 96 samples per run, without wasting consumables or reagents, or the need to have full batches. Total turnaround time is just over three hours for 96 samples (excluding extraction). In addition, the accompanying SYNCT, Software provides a comprehensive approach to data analysis and reporting, and enables the NxTAG Respiratory Pathogen Panel to integrate easily into any laboratory. Any of a number of targets can be selected by laboratories to customize their testing panel.
eBioscience and Luminex Announce Distribution Agreement for Multiplexed Assay Instrument Platform
Oct 15 15
Affymetrix Inc. and Luminex Corporation announced a distribution agreement under which eBioscience, a business unit of Affymetrix, will sell Luminex’s MAGPIX®, Luminex® 200™ and FLEXMAP 3D® multiplexed assay platforms in specified countries in the Americas, Asia and Europe. Affymetrix will sell the Luminex instruments together with ProcartaPlex® multiplexed immunoassays and QuantiGene®Plex multiplexed quantitative gene expression assays, offering complete solutions to customers working in the fields of drug discovery and development, immuno-oncology and translational research. The agreement will strengthen continued growth and adoption of Affymetrix’ bead-based assay portfolio, which serves markets growing at double-digit rates worldwide, while expanding the Luminex instrument installed base. The distribution agreement covers the U.S., Canada, Mexico, Brazil and China as well as The Netherlands, Germany, France, U.K., Switzerland, Austria, Belgium, Ireland, Luxembourg and Poland.