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Luminex Q1 Revenues Climb

NEW YORK, April 21 (GenomeWeb News) - Luminex revenues increased and its net loss dropped for the first quarter ending March 31, the company reported today.

 

The company reported first-quarter revenues of $9.3 million, compared to $5.1 million for the first quarter of 2003. Net loss for the quarter was $143,000, compared to $906,000 for the year-ago period. The loss excluded $1.8 million for the settlement of a lawsuit, which would have increased the loss to $2.7 million.

 

The company had cash and cash equivalents of $37.5 million on hand as of March 31, down from $39.5 million on Dec. 31.

 

The company spent $958,000 on research and development for the quarter, compared to $831,000 for the same quarter in 2003.

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