"Luminex continued to execute on its strategic plan and delivered another strong quarter," said Patrick J. Balthrop, president and chief executive officer of Luminex. "Our assay, consumable, and royalty revenue categories each demonstrated excellent growth over the prior year period. The assay group, led by our Cystic Fibrosis and Respiratory Viral Panel franchises, and now also includes contribution from EraGen Biosciences, generated 71% growth. Consistent with prior commentary, third quarter consumable revenue of $12 million grew 39% over the same period last year, while actual results were less than second quarter. Finally, we recognized $7.5 million in royalty revenue, or 32% growth over the same period in 2010, which reflects the strong commitment to and investment in our proprietary technology by our key partners."
"During the quarter we achieved several significant milestones, including the launch of our novel xTAG Gastrointestinal Pathogen Panel in Europe, receipt of FDA clearance of our xTAG RVP FAST assay, and significant progress with early integration activities at EraGen Biosciences," added Balthrop. "We believe these accomplishments deliver high performance solutions to our customers and long-term value for our shareholders," Balthrop concluded. REVENUE SUMMARY(in thousands, except percentages)Three Months EndedSeptember 30,Variance20112010($)(%)(unaudited)System sales
13,4247,8635,56171%All other revenue
,68434%Nine Months EndedSeptember 30,Variance20112010($)(%)(unaudited)System sales
32,26922,9629,30741%All other revenue
|SOURCE Luminex Corporation|
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