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

210%$
36,470$
,367$
36,10336%Consolidated revenue for the third quarter of 2011 was $45.6 million, a 34% increase over consolidated revenue of $33.9 million for the third quarter of 2010.  GAAP net income for the third quarter of 2011 was $1.9 million, or $0.05 per diluted share, compared with a GAAP net loss of $0.7 million, or $0.02 per diluted share, for the prior year period. Included in cost of sales for the current quarter are $2.0 million of costs associated with the fair valuation of EraGen inventory at acquisition, representing an approximate $0.05 per diluted share impact.  

Net income for the third quarter of 2011 included non-cash charges of $2.8 million in stock compensation expense associated with ASC 718 and $3.3 million of depreciation and amortization expense.  Net income for the third quarter of 2010 included non-cash charges of $2.3 million in stock compensation expense associated with ASC 718 and $2.2 million of depreciation and amortization expense.  

LUMINEX CORPORATIONREPORTABLE SEGMENT HIGHLIGHTS(in thousands, except percentages)Three Months EndedSeptember 30,Variance20112010($)(%)(unaudited)RevenueTechnology and strategic partnerships

$
29,918$
24,593$
5,32522%Assays and related products

15,6399,2806,35969%Total Revenue

45,55733,87311,68434%Operating income (loss)Technology and strategic partnerships

5,4282,1933,235148%Assays and related products

(2,608)(2,038)(570)-28%Total Operating income

2,8201552,6651719%Nine Months EndedSeptember 30,Variance20112010($)(%)(unaudited)RevenueTechnology and strategic partnerships

$
98,064$
75,036$
23,02831%Assays and related products

38,40625,33113,07552%Total Revenue

136,470100,36736,10336%Operating income (loss)Technology and strategic partnerships

25,65610,10515,551154%Assays and related products

(5,745)(3,937)(1,808)-46%Total Operating income

19,9116,1
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SOURCE Luminex Corporation
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