Skip to main content
Premium Trial:

Request an Annual Quote

Luminex Says Q2 Revenues Rise 32 Percent as Profit Turns to Loss

NEW YORK (GenomeWeb News) — Luminex said Wednesday that second-quarter revenue increased 32 percent as R&D spending rose 116 percent and a modest profit turned to a loss.
Total receipts for the three months ended June 30 increased to $17.5 million from $13.3 million year over year.
The quarter’s results included three months of revenue from Tm Bioscience, which Luminex acquired on March 1 and renamed Luminex Molecular Diagnostics.
Luminex now reports results for two business segments: the Technology Group, which includes system sales to partners, raw bead sales, royalties, and service and support of the core technology; and the Assay Group, which includes the Luminex Bioscience Group and Luminex Molecular Diagnostics.
Second-quarter revenues for the Technology Group grew to $14.8 million from $13.3 million in the second quarter of 2006. The Assay Group posted revenues of $4 million in the current quarter, compared to $14,000 in the prior-year period.
System revenue slipped 3.4 percent to $5.6 million; consumables rose 10 percent to $3.3 million; royalties rose 10 percent to $2.2 million; reagent revenue was $3.7 million compared with $14,000 in the previous year's second quarter; service revenue increased to $1.1 million from $811,000 year over year; and other revenue ticked up one percent to $1.6 million.
"Our xMAP platform continues to build critical mass across many segments of the life sciences marketplace,” Luminex CEO Patrick Balthrop said in a statement.
“We also continued to make strategic investments in our research efforts and, as a result, made significant progress in assay product development,” Balthrop added.
R&D spending increased to $3.9 million from $1.8 million year over year.
The company's net loss was $3.2 million, compared with a $271,000 profit in the year-ago period.
Luminex said it had around $11.8 million in cash and equivalents and $3.3 million in short-term investments as of June 30.

The Scan

Should've Been Spotted Sooner

Scientists tell the Guardian that SARS-CoV-2 testing issues at a UK lab should have been noticed earlier.

For Martian Fuel

Researchers have outlined a plan to produce rocket fuel on Mars that uses a combination of sunlight, carbon dioxide, frozen water, cyanobacteria, and engineered E. coli, according to Gizmodo.

To Boost Rapid Testing

The Washington Post writes that new US programs aim to boost the availability of rapid at-home SARS-CoV-2 tests.

PNAS Papers on Strawberry Evolution, Cell Cycle Regulators, False-Positive Triplex Gene Editing

In PNAS this week: strawberry pan-genome, cell cycle-related roles for MDM2 and MDMX, and more.