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Luminex Corporation Reports Third Quarter 2011 Results
Date:11/1/2011

AUSTIN, Texas, Nov. 1, 2011 /PRNewswire/ -- Luminex Corporation (NASDAQ: LMNX) today announced financial results for the third quarter ended September 30, 2011.  Financial and operating highlights include the following:

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  • Consolidated third quarter revenue was $45.6 million, a 34% increase over the third quarter of 2010
  • Third quarter 2011 assay sales of $13.4 million grew 71% over the third quarter of 2010 and included a first full quarter contribution from EraGen Biosciences, Inc.
  • Third quarter 2011 shipments of 226 multiplexing analyzers that included 61 MAGPIX® systems, resulting in cumulative life-to-date multiplexing analyzer shipments of 8,371
  • Consolidated gross profit margin of 62.4% for the third quarter of 2011, which reflects the impact of $2.0 million in incremental expense resulting from the recording of EraGen inventory acquired at fair value on the date of acquisition. Excluding this impact, non-GAAP consolidated gross profit margin was 66.9% for the third quarter of 2011
  • Operating income for the third quarter of 2011 was $2.8 million. Included in this amount is $2.0 million in incremental expense resulting from recording the EraGen inventory acquired at fair value on the date of acquisition. Excluding this amount and current quarter integration expenses, non-GAAP operating income for the third quarter of 2011 was $5.1million, a $5.0 million increase over the third quarter of 2010
  • Successful launch of the 15-pathogen xTAG® Gastrointestinal Pathogen Panel (GPP) in Europe
  • Received 510(k) clearance from the U.S. Food and Drug Administration (FDA) for the xTAG Respiratory Viral Panel FAST (RVP FAST) in early July
  • Hosted the ninth annual Planet xMAP Europe Se
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