Luminex: 3Q Earnings Snapshot

November 5, 2018

AUSTIN, Texas (AP) _ Luminex Corp. (LMNX) on Monday reported third-quarter profit of $1.7 million.

On a per-share basis, the Austin, Texas-based company said it had profit of 4 cents. Earnings, adjusted for costs related to mergers and acquisitions and severance costs, came to 5 cents per share.

The results did not meet Wall Street expectations. The average estimate of five analysts surveyed by Zacks Investment Research was for earnings of 8 cents per share.

The manufacturer of testing systems for biotechnology companies posted revenue of $72.4 million in the period, which also did not meet Street forecasts. Five analysts surveyed by Zacks expected $74 million.

For the current quarter ending in December, Luminex said it expects revenue in the range of $77 million to $79 million.

The company expects full-year revenue in the range of $310 million to $316 million.

Luminex shares have climbed 50 percent since the beginning of the year. In the final minutes of trading on Monday, shares hit $29.62, a rise of 38 percent in the last 12 months.


This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on LMNX at https://www.zacks.com/ap/LMNX