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Luminex Q2 Revenues Rise, Losses Narrow

NEW YORK, July 23 - Luminex today reported increased net revenues for the second quarter, and significantly narrowed net losses.

 

The Austin, Texas company, which makes the xMap bead assay system for genomics and proteomics research, and other applications, reported revenues of $5.6 million for the quarter, compared to $3.2 million for the second quarter of 2002.

 

The company's R&D expenses were down sharply to $.9 million, from $2.1 million for the year-ago period.

Net losses for the quarter came to $1.9 million, compared to $6.2 million for the same period last year.

 

As of June 30, Luminex had $38.7 million in cash and cash equivalents.

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