NEW YORK, Oct. 27 (GenomeWeb News) - Luminex yesterday reported increased revenues and a narrowing loss for the third quarter of 2005 as a result of increased R&D investment.
Revenues for third quarter ended Sept. 30 totaled $10.8 million, a 28.7 percent increase over last year's revenues of $8.4 million during the same quarter. Of total revenues, $4.6 million came from sales of Luminex instruments, $3.4 million from consumables, $1.4 million from royalties, and $1.3 million from other sources such as training, extended service contract sales, and other special project revenue.
Research and development costs climbed to $1.5 million, up from $949,000 during the year-ago quarter.
Luminex's net loss declined 43 percent to $657,000, or $.02 per share, from $1.2 million, or $.04 per share, for last year's third quarter.
As of Sept. 30, Luminex had $21.5 million in cash and cash equivalents, and $10.9 million in short-term investments.