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Luminex Corporation Reports Third Quarter 2013 Results

s we evaluate the recently published reimbursement rates for 2014, we agree with our customers' public comments that this is a transient issue and we expect to see resolution in the near future," said Patrick J. Balthrop, president and chief executive officer of Luminex. 

"We strongly believe in our strategic initiatives and that the Company is well-positioned for substantial growth across our entire portfolio when the transient reimbursement problem is resolved.  Among these initiatives is the development of our unique 'sample-to-answer' system, Project ARIES, which will be demonstrated at the upcoming Association for Molecular Pathology Annual Meeting in Phoenix on November 14-16th.  In addition, we are pleased with the progress our direct sales force made during the quarter selling our family of diagnostic tests including GPP, RVP and our recently approved genotyping assay," added Mr. Balthrop.REVENUE SUMMARY(in thousands, except percentages)Three Months EndedSeptember 30,Variance20132012($)(%)(unaudited)System sales

(982)-11%Consumable sales

12,83712,898(61)0%Royalty revenue

8,9967,6901,30617%Assay revenue

16,11516,439(324)-2%All other revenue

5,2644,47079418%$  50,780$  50,047$
7331%Nine Months EndedSeptember 30,Variance20132012($)(%)(unaudited)System sales

$  21,772$  23,934$ (2,162)-9%Consumable sales

36,48435,6008842%Royalty revenue

27,68323,6474,03617%Assay revenue

56,13851,2464,89210%All other revenue

16,19012,6203,57028%$158,267$147,047$11,2208% LUMINEX CORPORATIONREPORTABLE SEGMENT HIGHLIGHTS(in thousands, except percentages)Three Months EndedSeptember 30,Variance20132012($)(%)(unaudited)RevenueTechnology and strategic partnerships

$33,335$31,584$ 1,7516%Assays and related products

17,44518,463(1,018)-6%Total Revenue

50,78050,0477331%Operating income (lo

SOURCE Luminex Corporation
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