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Luminex Posts Increased Revenues, Narrowed Losses in Q2

NEW YORK, July 21 (GenomeWeb News) - Luminex said today that revenues for the second quarter of 2004 rose to $9.2 million from $5.6 million for the same period in 2003.


Meanwhile, net loss for the company in the second quarter dipped slightly to $1.1 million from $1.9 million in Q2 of 2003.


The company said that Q2 revenues consisted of $5.3 million from sales of 218 Luminex systems and $2.1 million from the sales of consumables. Year-to-date revenues have nearly doubled over last year, rising to $18.5 million in 2004 from $10.7 million for the corresponding period in 2003.


Luminex spent $987,000 on R&D in the second quarter of 2004 as compared to $881,000 for Q2 of 2003. As of June 30, the company had cash and cash equivalents on hand of $54 million.


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