Luminex's net loss for the first quarter increased to $298,000 from $143,000 year over year, not to $298 million from $143 million. The company's research and development expenses increased from 958,000 to $1 million, not $958 million to $1 billion.
Net loss for the recent period grew 48 percent to $298,000 from $143,000 year over year. Per-share net loss for the first quarter of 2005 was $.01, and $.00 for the first quarter of 2004.
The company invested an additional $59,000 in research and development, reporting expenses in that category of $1 million in the current quarter of 2005, compared to $958,000 in the similar quarter of 2004.
Cash and cash equivalents on hand at the end of the recent quarter amounted to $14.3 million.