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Luminex Corporation Reports Third Quarter 2010 Results
Date:11/4/2010

income (loss)Technology and strategic partnerships

2,19354910,1055,453Assays and related products

(2,038)(1,061)(3,937)(3,352)Total Operating income (loss)

155(512)6,1682,101"Luminex delivered a solid financial and operating performance for the third quarter of 2010, though we faced a difficult year-over-year comparison," said Patrick J. Balthrop, president and chief executive officer of Luminex.  "Our consumable, assay, and royalty revenue categories each showed favorable growth trends over a strong performance in the prior year period. We continue to expand our installed base and are especially excited about the early demand seen for our recently launched MAGPIX® system." 

"During the quarter we also made good progress on our product development initiatives.  Luminex is on-track with the integration of our recent acquisition, BSD Robotics, and in October we signed a worldwide OEM agreement with the Tecan Group to develop a new automated newborn screening solution," added Balthrop. "These initiatives along with our investment in exciting new products, such as our innovative MAGPIX instrument, will help ensure that Luminex maintains our edge in the marketplace, delivers high performance solutions to our customers, and drives long term value for our shareholders."

"We look forward to finishing the year with a strong fourth quarter performance," Balthrop concluded. 

FINANCIAL OUTLOOK AND GUIDANCE The Company expects to deliver consolidated 2010 revenue of between $138 and $140 million, representing an increase of 14 to 16 percent over reported 2009 annual revenue.

CONFERENCE CALL Management will host a conference call to discuss the operating highlights and financial results for the third quarter ended September 30, 2010, on Thursday, November 4, 2010, at 4:00 p.m. Central time/ 5:00 p.m. Eastern time.  The conference call will be webcast live and will be accompanied by a slide presen
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SOURCE Luminex Corporation
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