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Luminex Preliminary Q1 Revenues Rise 10 Percent

NEW YORK – Luminex said after the close of the market on Monday that its first quarter 2020 revenues are expected to be slightly more than $90 million, a rise of about 10 percent year over year and about 8 percent over the high end of its previously communicated Q1 revenue guidance of between $82 million and $84 million. The firm had reported $82.4 million in revenues for Q1 2019.

Luminex said that its Q1 molecular diagnostics revenues are anticipated to be $45 million, up more than 25 percent from the first quarter of 2019 and driven by SARS-CoV-2 test sales.

Revenues for its non-automated assays are expected to be $19 million, up more than 15 percent year over year. Revenues for its sample-to-answer tests are expected to be approximately $26 million, up more than 50 percent over the prior-year quarter. Sales of automated assays in Q1 are anticipated to be $23 million, up more than 35 percent year over year, Luminex said.

Luminex said that in Q1 it achieved record sample-to-answer system placements with approximately 120 systems sold or contracted, the majority of which were Aries systems.

The company expects Licensed Technologies Group revenues of approximately $37 million, an increase of 5 percent year over year. It placed 223 XMap systems, six more than in the first quarter of 2019, the firm said.

Luminex expects to post Flow Cytometry revenues of more than $6 million, down more than 40 percent year over year. Flow Cytometry revenues are expected to be down slightly more than 20 percent when they are adjusted for confirmed orders the company was unable to book due to activities associated with the COVID-19 pandemic, Luminex said.

"In these challenging times, our organization has stepped up and provided multiple solutions to the marketplace, including [two] recent emergency use authorized SARS-CoV-2 tests," Nachum Shamir, president and CEO of Luminex, said in a statement.

The firm said that it anticipates reporting full financial results for the quarter on May 11.