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Luminex Corporation Board of Directors Authorizes Share Repurchase Plan Through November 2011
Date:11/17/2010

AUSTIN, Texas, Nov. 17, 2010 /PRNewswire-FirstCall/ -- Luminex Corporation (Nasdaq: LMNX) today announced that the company's Board of Directors has authorized the purchase of up to 1,000,000 shares, but not more than $21 million in aggregate purchase price, of the company's common stock through November 2011.

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"We believe that the stock repurchase program announced today represents an appropriate and strategic use of the company's cash, while retaining sufficient flexibility to fund future expenditures, including acquisition, licensing and partnership opportunities as well as investments in research and development," commented Patrick J. Balthrop, president and chief executive officer of Luminex.  "The authorization of this share repurchase program reflects the Board's continued confidence in the company's financial condition and our ability to grow shareholder value in the future."

Repurchases may be made from time to time at prevailing prices in open market or privately negotiated transactions through November 30, 2011, including pursuant to Rule 10b5-1 trading plans.  The timing and amount of the repurchase transactions under the program will depend on a variety of factors, including the trading price of the stock, market conditions and corporate and regulatory considerations. Funds for the repurchase of shares are expected to come primarily from cash on hand and cash generated from operations.  The Company currently has approximately 42.3 million shares outstanding.

The repurchase program does not obligate the Company to acquire any particular amount of common stock
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SOURCE Luminex Corp.
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