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Luminex Discloses GenturaDx Loss of $19.8M in 2011, $18.5M in H1 2012

NEW YORK (GenomeWeb News) – Luminex today disclosed the finances of GenturaDx, a molecular diagnostic test firm that it acquired for $50 million during the summer.

In a document filed with the US Securities and Exchange Commission, Luminex said that for full-year 2011, GenturaDx recorded no revenues and a net loss of $19.8 million. The company spent $10.1 million on R&D and $3.5 million on SG&A.

For the first six months of 2012, GenturaDx also saw no revenues and a net loss of $18.5 million. R&D costs totaled $6.2 million, while SG&A costs were $5.0 million.

On a pro forma basis, treating GenturaDx as if it were part of Luminex during full-year 2011, the combined company posted $184.3 million in revenues and a profit of $5.2 million, or $.12 per share, Luminex said. R&D spending was $43.5 million, and SG&A totaled $68.4 million.

Luminex earlier this year reported full-year 2011 revenues of $184.3 million and a profit of $14.5 million, or $.34 per share, on a GAAP basis, not including GenturaDx. R&D costs totaled $33.4 million, and SG&A spending totaled $64.9 million.

For the six months ended June 30, 2012 the combined companies had revenues of $97.0 million on a pro forma basis, and a profit of $2.4 million, or $.06 per share. The combined companies spent $25.2 million on R&D and $36.2 million on SG&A.

On a GAAP basis, Luminex recorded $97.0 million in revenues during the first half of 2012 resulting in a profit of $6.5 million, or $.15 per share. R&D costs came in at $19.1 million, while SG&A costs were $34.8 million.

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