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Luminex Sees Revenues Slide, Losses Mount in Q2

NEW YORK, July 26-Revenues dwindled and losses mounted for Luminex in the second quarter of 2002, the company reported yesterday.


Revenues for the quarter ended June 30, 2002 were $3.2 million, down from $4.7 million in the second quarter of the previous year.


Losses increased to $6.1 million for the quarter ($0.21 per share) from $4.4 million or $0.15 per share in the equivalent quarter last year.


The company held $41 million in cash and short-term investments at the end of June, down from $51 million at the end of the 2001 calendar year.


Luminex chair and CEO Mark Chandler said in a statement that the company's revenues increased from the first quarter of the year, and pointed to a steep hike in royalties.


For more information, see the press release.

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