Corporate Banner
Satellite Banner
Molecular & Clinical Diagnostics
Scientific Community
 
Become a Member | Sign in
Home>News>This Article
  News
Return

Luminex Corporation Reports Second Quarter 2013 Results

Published: Tuesday, July 30, 2013
Last Updated: Tuesday, July 30, 2013
Bookmark and Share
Achieves milestone selling 10,000th multiplexing analyzer.

Luminex Corporation has announced financial results for the second quarter ended June 30, 2013. Financial and operating highlights include the following:

• Consolidated second quarter revenue was $54.3 million, a 12 percent increase over the second quarter of 2012
• Second quarter assay revenue of $21.7 million, a 24 percent increase over the second quarter of 2012
• Cumulative life-to-date multiplexing analyzer shipments of 10,130, up 11 percent from a year ago
• Consolidated gross margin of 70 percent for the second quarter of 2013
• Non-GAAP net income for the second quarter was $7.2 million, or $0.17 per diluted share, which compares with $6.3 million and $0.15 per diluted share for the same quarter of the previous year. GAAP net income for the quarter was $3.7 million, or $0.09 per diluted share, which compares with $3.0 million and $0.07 per diluted share in the same quarter of 2012 (see the reconciliation of GAAP to non-GAAP net income set forth on page 8)
• In June, Natural Molecular Testing Corporation began the commercialization of a 42-target test, called The Personalized Medicine Panel, based on Luminex's proprietary technology

"We generated another quarter of strong financial performance, driven by continued execution in our assay segment. Growth in assay revenue was well balanced across our genetic and infectious disease franchises and included a notable contribution from our recent US IVD cleared xTAG® gastrointestinal pathogen panel. This performance also reflects a positive impact from the Company's transition to a direct molecular diagnostic sales force which began in early 2013," said Patrick J. Balthrop, president and chief executive officer of Luminex.

"In addition, we surpassed a major milestone for the Company in the second quarter, delivering our 10,000th multiplexing analyzer to date. The entire company is proud of this achievement," added Balthrop.

"Notwithstanding our success during the second quarter, the overall molecular diagnostic market began to experience a deceleration in the utilization of certain molecular assays. This is a result of administrative issues related to the reimbursement of certain tests included in the new molecular diagnostic code system established January 1, 2013 by the Centers for Medicare and Medicaid Services. A number of our lab customers have expended significant efforts in striving for a rapid resolution, nonetheless progress has been slow. While the situation remains fluid, we believe it is prudent to adjust our expectations for the second half of 2013 to account for this headwind," Balthrop concluded.


Further Information

Join For Free

Access to this exclusive content is for Technology Networks Premium members only.

Join Technology Networks Premium for free access to:

  • Exclusive articles
  • Presentations from international conferences
  • Over 3,200+ scientific posters on ePosters
  • More than 4,800+ scientific videos on LabTube
  • 35 community eNewsletters


Sign In



Forgotten your details? Click Here
If you are not a member you can join here

*Please note: By logging into TechnologyNetworks.com you agree to accept the use of cookies. To find out more about the cookies we use and how to delete them, see our privacy policy.

Related Content

Luminex Receives FDA Clearance for Aries M1 System
Company has received FDA clearance and CE-IVD marking for a new in vitro diagnostic system, the ARIES® M1 System.
Thursday, July 07, 2016
Luminex Completes Acquisition of Nanosphere
The acquisition provides Luminex with Nanosphere's high-plex, low-throughput system to complement its existing molecular platforms.
Friday, July 01, 2016
Luminex Receives CE-IVD Mark
Company has announced that it has received CE-IVD mark for ARIES® Flu A/B & RSV Assay.
Thursday, June 02, 2016
Luminex to Acquire Nanosphere
Nanosphere to be acquired for $1.35 per share in an all cash transaction valued at approximately $58 million.
Monday, May 16, 2016
Luminex SYNCT Software Receives FDA Clearance, CE Mark
Company has announced that its SYNCT™ Software has received both U.S. FDA clearance and CE Marking for use with its ARIES® System and NxTAG® assays on the MAGPIX® System.
Friday, April 15, 2016
Luminex Receives CE-IVD Mark for ARIES System
The ARIES® System and ARIES®HSV 1&2 Assay previously received FDA clearance in October 2015 and were subsequently launched in the U.S. market.
Tuesday, March 22, 2016
Luminex, University of Sao Paulo Collaborate
Luminex Corporation has announced it is collaborating with the Laboratory of Molecular Evolution & Bioinformatics, Biomedical Sciences Institute, University of São Paulo, Brazil to validate a multi-analyte Zika virus assay developed by Luminex partner,GenArraytion, Inc.
Monday, February 29, 2016
Luminex Corporation Announces Collaboration with University of Sao Paulo
Company has announced collaboration to validate a multi analyte zika virus detection panel for detect multiple disease agent.
Friday, February 26, 2016
Luminex Corporation Receives Medical Device License
Company has announced that it has received medical device licenses from Health Canada's Therapeutic Products Directorate for ARIES System and ARIES HSV 1&2 Assay.
Tuesday, February 23, 2016
Luminex and Bio-Techne Extend and Expand Partnership
Company expands global distribution of award-winning multiplexing instrumentation.
Friday, October 23, 2015
Luminex Receives FDA Clearance
Company has received clearance for ARIES® System and ARIES® HSV 1&2 Assay.
Thursday, October 08, 2015
Luminex Receives FDA and European Clearance for xTAG® CYP2C19 Kit
New cytochrome P450 2C19 assay helps physicians optimize individual patient care.
Tuesday, September 24, 2013
Luminex Receives FDA and European Clearance for New Version of xTAG® CYP2D6 Kit
Luminex submits xTAG® CYP2C19 kit to FDA for review.
Tuesday, July 16, 2013
Merck and Luminex Corporation Enter Agreement
Collaboration to support patient selection for the clinical development of MK-8931, Merck’s lead investigational medicine for Alzheimer’s disease.
Thursday, July 04, 2013
Luminex Corporation Reports First Quarter 2013 Results
Gained FDA clearance for novel Gastrointestinal Pathogen Panel.
Thursday, May 02, 2013
Scientific News
Liquid Biopsies: Miracle Diagnostic or Next New Fad?
Thanks to the development of highly specific gene-amplification and sequencing technologies liquid biopsies access more biomarkers relevant to more cancers than ever before.
Drug - Gene 'One-Two' Punch Against Cancer
Researchers identify gene-drug combinations that, together, target and kill cancer cells while not targeting healthy cells.
Liquid Biopsies Treating Ovarian Cancer
Researchers have discovered a promising monitor and treat recurrence of ovarian cancer. Detecting cancer long before tumours reappear.
72% Rise in Metastatic Prostate Cancer
Over the 2003-2013 period metastatic cancer has increased by an average of 72%, this could be caused by lax screening, more aggressive disease or both.
Lab-Tested Diagnosis Needed When Treating Persistent Diarrhea
New PCR multiplex method makes lab testing more effective.
Biomarker for Multiple Sclerosis Detection Discovered
Winthrop-University Hospital researchers discover biomarker for multiple sclerosis detection.
Scientists Link Bipolar Disorder to Unexpected Brain Region
Researchers from The Scripps Research Institute have found that gene within the brain’s striatum could be linked to biopolar disorder.
Liquid Biopsies: DNA Size Matters
Study finds circulating tumour DNA can be distinguished from healthy DNA through fragment size identification.
Accessing Metabolic Information with Mass Spec
Scientists at the Helmholtz Zentrum München have developed a new mass spectrometry imaging method which, for the first time, makes it possible to analyze hundreds of metabolites in fixed tissue samples.
Zika Epidemic Likely to End Within Three Years
A team of scientists has predicted that the current Zika epidemic is likely to end within three years because there will be too few people left to infect.
SELECTBIO

SELECTBIO Market Reports
Go to LabTube
Go to eposters
 
Access to the latest scientific news
Exclusive articles
Upload and share your posters on ePosters
Latest presentations and webinars
View a library of 1,800+ scientific and medical posters
3,200+ scientific and medical posters
A library of 2,500+ scientific videos on LabTube
4,800+ scientific videos
Close
Premium CrownJOIN TECHNOLOGY NETWORKS PREMIUM FOR FREE!