BIOMEDICAL

Austin-based Luminex sees revenue, profit rise in 1st quarter

Posted May 2nd, 2016

Story highlights
  • Luminex reports better revenue, profit than a year ago. 

LUMINEX

WHAT THEY DO: Luminex develops biological testing systems. Their testing systems allow a tiny sample of blood to be tested for dozens of biological markers. It can be used for gene-based research and diagnostics. 

The company was founded in 1995, went public in 2000 and employs about 800 people. 

QUARTER: First quarter of 2016

McClatchy News Service

 THE RESULTS: The company reported nearly $63 million in sales, up 9 percent from the same quarter a year ago. Its net income, or profit, was $8.8 million, or 21 cents a share, up 17 percent from a year ago. 

“We’ve started 2016 very strongly....we attribute this positive momentum to the overall strength of the company’s diversified business model, with an especially strong contribution from our life science partners,” said Homi Shamir, President and Chief Executive Officer of Luminex, in a written statement. He added that "2016 has started off well and we look forward to continuing another year of solid execution and growth.”

WHAT TO EXPECT: The company raised the lower end of its 2016 annual revenue guidance by $2 million, resulting in a revised range of between $247 million and $255 million for the year. The Company currently anticipates revenue in the second quarter of 2016 to be between $60 million and $62 million

STOCK PERFORMANCE: Investors shrugged at this earnings report. Luminex's stock was essentially flat in after-hours trading. It had closed on Monday at $20.57 and is down about 4 percent since the start of this year. 

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