NEW YORK, Oct. 22 (GenomeWeb News) – Luminex today reported increased net revenues for the third 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 $7.2 million for the quarter, compared to $3.6 million for the third quarter of 2002. Net losses for the quarter came to $.9 million, compared to $5.8 million for the same period last year.
The company's R&D expenses decreased to $.7 million, from $1.2 million for the year-ago period.
As of Sept. 30, Luminex had $40.2 million in cash and cash equivalents.