Luminex Revenue Climbs 49 Percent on Rising Assay, Technology Sales
Luminex reported this week that its third-quarter revenues jumped 49 percent as the firm swung from a loss to profitability.
The molecular diagnostics tools and assay developer brought in revenues of $28.9 million for the three-month period ended Sept. 30, compared to revenues of $19.4 million for the third quarter of 2007.
Sales for its technology group increased to $6.3 million from $3.3 million. Company CEO Patrick Balthrop said in a statement that the assay division’s revenue growth was the result of the successful integration of Luminex Molecular Diagnostics — formerly Tm Biosciences, which he said is “on the verge of operating profitability.”
The firm said that it sold 239 xMAP systems during the quarter, bringing the total number of shipments for the instrument to date to 5,641.
Luminex’s net income for the quarter was $3.2 million, or $.08 per share, compared to a net loss of $1.9 million, or $.05 per share, for the comparable quarter of 2007.
The firm’s R&D spending remained flat at around $4.4 million, and its SG&A expenses climbed 21 percent to $12.1 million from $10 million.
Luminex finished the quarter with $81.6 million in cash and cash equivalents.
The firm also upped its full-year 2008 revenue guidance to between $102 million and $107 million from a previous range of between $95 million and $105 million.
LabTech to Provide Sales, Service for Fluxion
UK-based LabTech International will handle sales and service in the UK, Ireland, and France for Fluxion Biosciences’ BioFlux research tools for live-cell imaging and analysis.
Fluxion’s BioFlux 200 is used for live-cell imaging applications, such as cell adhesion and microbial biofilm studies.
"Labtech has exceptional penetration of cell biology markets and their contacts are an ideal fit for our products,” Mark Atlas, director of sales for San Francisco-based Fluxion, said in a statement.
Further terms of the partnership were not disclosed.
Genedata, U Cincinnati Enter High-Throughput Screening Collaboration
Genedata this week announced a high-throughput screening collaboration with the drug discovery center at the Genome Research Institute of the University of Cincinnati. Genedata Screener, an open and scalable enterprise solution for HTS and high-content screening, will be integrated into the center’s HTS workflows, Genedata said.
Sandra Nelson, the director of high-throughput screening and a research associate professor at the University of Cincinnati, said in a statement, “The drug discovery center needed a software solution to manage and analyze its small molecule screening campaigns. The Screener system from Genedata matched our screening and analysis workflows and is easy to use. Users can start working with Screener on the fly and need very little additional IT support.”
She added that the automated quality control, which has reduced analysis and review time from days to hours per screen, was also an important feature of the Genedata Screener.
Invitrogen, ABI to be Named Life Technologies Post-Merger
Following the merger of Invitrogen and Applied Biosystems, which is expected to close this month, the combined entity will be named Life Technologies, according to an internal memo from Invitrogen Chairman and CEO Greg Lucier to employees obtained by CBA News’ sister publication GenomeWeb Daily News.
When the $6.7 billion deal was announced in June, the firms said that the merged entity would operate under the Applied Biosystems name. However, in a memo sent to employees this week, Lucier said that the leadership teams of the two firms said that as they were “working together to define the identity and vision of our combined organization … one word became prominent in our discussions. That word was ‘life’ — a word that we believe truly symbolizes the promise of our combined company,” he wrote.
He said the leadership team had chosen Life Technologies as the new name for the firm.
Life Technologies also was the name of the Rockville, Md.-based provider of molecular biology and cell culture supplies that Invitrogen merged with back in July 2000, with Invitrogen retaining its name after that deal.
Lucier said in the memo that the combined entity is “not losing the Invitrogen or Applied Biosystems brands, which will continue to be prominently positioned as part of our brand strategy.”
An Invitrogen official confirmed for GenomeWeb Daily News this week that the new name would be Life Technologies, and said a statement regarding the name and further details would be issued soon.
Becton Dickinson's Q4 Revenues Rise 11 Percent
Becton Dickinson this week reported fourth-quarter revenue growth of around 11 percent, with double-digit growth coming from all three of its operating segments.
The Franklin Lakes, NJ-based firm brought in total revenues of $1.83 billion for the three-month period ended Sept. 30, up from $1.65 billion in the comparable period of 2007. Sales for BD Biosciences rose 16 percent to $329.5 million from $284.9 million.
Within BD Biosciences, sales for its cell analysis products rose 16 percent to $98.9 million from $85.1 million, and sales for its discovery labware products fell 6 percent to $37.9 million from $40.2 million.
BD’s net income for the quarter increased roughly 9 percent to $282.2 million, or $1.12 per share, from $259.8 million, or $1.03 per share.
Its R&D spending in the quarter rose 8 percent to $108.6 million from $100.4 million year over year, and its SG&A costs increased roughly 9 percent to $437.2 million from $399.5 million.
For full-year 2008, sales for BD Biosciences climbed around 16 percent to $1.2 billion from $1 billion.
The firm’s FY2008 profit was $1.13 billion, or $4.46 per share, compared to $890 million, or $3.49 per share, for fiscal 2007. Its SG&A expenses increased 7 percent to $1.7 billion from $1.6 billion, and its R&D spending rose 10 percent to $396.2 million from $360 million.
BD did not provide its cash position as of Sept. 30.
It said that it expects fiscal 2009 revenues to increase around 1 percent to 2 percent over 2008, with unfavorable foreign currency translation of an estimated 5 percent to 6 percent.