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Luminex: 2Q Earnings Snapshot

July 31, 2019

AUSTIN, Texas (AP) _ Luminex Corp. (LMNX) on Wednesday reported a second-quarter loss of $4.9 million, after reporting a profit in the same period a year earlier.

The Austin, Texas-based company said it had a loss of 11 cents per share. Losses, adjusted for one-time gains and costs, came to 10 cents per share.

The results fell short of Wall Street expectations. The average estimate of five analysts surveyed by Zacks Investment Research was breakeven on a per-share basis.

The manufacturer of testing systems for biotechnology companies posted revenue of $83.1 million in the period, surpassing Street forecasts. Five analysts surveyed by Zacks expected $81.7 million.

For the current quarter ending in October, Luminex said it expects revenue in the range of $80 million to $83 million.

The company expects full-year revenue in the range of $337 million to $343 million.

Luminex shares have dropped 6% since the beginning of the year. In the final minutes of trading on Wednesday, shares hit $21.73, a fall of 36% 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

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