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With Revenues and Losses Up, Luminex Sets Date for Report on Corporate Assessment

NEW YORK, Oct. 21 (GenomeWeb News) - Luminex today reported an increase in third-quarter revenue and widened net loss.


The company also said it plans to release results of a strategic assessment of the business on Dec. 8.


"We are working hard to create a focused business, and one better suited to generate long-term shareholder value," Patrick Balthrop, president and CEO, said in a statement.


Revenue for the three months ended Sept. 30 increased to $8.4 million from $7.1 million year over year. The Austin, Texas-based molecular biology tools company recorded $4.3 million of revenue from the sale of 177 Luminex systems and $2.1 million from consumables.


R&D spending also increased, to $900,000 in the third quarter from $700,000 in the year-ago period.


Net loss widened to $1.2 million for the period, or $.04 per share, from $800,000, or $.03 per share, year over year.


Luminex said it had around $36.3 million in cash and equivalents.

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