Skip to main content
Premium Trial:

Request an Annual Quote

Luminex Posts 40-Percent Rise in Q1 Revenue, Swings to Profit; Shares Surge 17.5 Percent

NEW YORK, April 27 (GenomeWeb News) - Luminex today said that first-quarter revenues increased 40 percent, R&D spending inched up 1.2 percent,  and the company swung to a profit.

 

On the news, Luminex shares were up 17.5 percent, or $2.34, at $15.73 in mid-afternoon trading.

 

Total receipts for the three months ended March 31 increased to $13 million from $9.3 million in the year-ago period.

 

R&D spending more than doubled to $2.2 million from $1 million, Luminex said.

 

The company also said it turned a $526,000 profit, or $.02 per share, from a net loss of $298,000, or $.01, per share.

 

The company said the results "reflect an improved product mix with consumable revenue up 59 percent and royalty revenue up 50 percent compared with a year ago. The significant increase in consumable revenue and profitability in the first quarter is primarily the result of a higher than expected volume of consumable bulk purchases."

 

Luminex said it had around $24.6 million in cash and equivalents and $16 million in short-term investments as of March 31.

The Scan

Booster for At-Risk

The New York Times reports that the US Food and Drug Administration has authorized a third dose of the Pfizer-BioNTech SARS-CoV-2 vaccine for people over 65 or at increased risk.

Preprints OK to Mention Again

Nature News reports the Australian Research Council has changed its new policy and now allows preprints to be cited in grant applications.

Hundreds of Millions More to Share

The US plans to purchase and donate 500 million additional SARS-CoV-2 vaccine doses, according to the Washington Post.

Nature Papers Examine Molecular Program Differences Influencing Neural Cells, Population History of Polynesia

In Nature this week: changes in molecular program during embryonic development leads to different neural cell types, and more.