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Luminex Expects to Post Q4 Revenue Growth of 4 Percent

NEW YORK (GenomeWeb) – Luminex announced this morning that it expects to report fourth quarter revenues of approximately $81 million, which would represent roughly 4 percent growth over the $78.2 million it reported for Q4 2017.

The estimate would beat Wall Street's average estimate for revenues of $78 million for the fourth quarter of 2018.

Luminex said that revenue for its Licensed Technologies Group grew more than 23 percent year over year to $41 million. Its molecular diagnostics revenue was down 11 percent to $39 million due to a an approximately $11 million decline in non-CF assay sales to Laboratory Corporation of America. Excluding that impact the firm's MDx sales were up around 21 percent year over year.

Luminex noted that it placed 60 of its Verigene and Aries molecular systems during Q4 2018.

For full-year 2018 Luminex expects to post revenues of more than $315 million, near the top end of its guidance of $310 million to $316 million and above analysts' consensus estimate of $312.6 million. Its revenue growth for the year would be approximately 3 percent over the $306.6 million it reported for FY 2017.

Luminex said full-year revenues for the Licensed Technologies Group were $149 million, while MDx revenues were $164 million, up 1 percent despite the lower sales to LabCorp. Exclusive of the LabCorp impact, its MDx sales were up around 13 percent year over year.

The firm said it placed 260 Verigene and Aries systems during the year.

For FY 2019, Luminex expects revenues in the range of $337 million to $343 million.

Luminex will report its full Q4 and 2018 financial results on Feb. 4.

In early Monday trading on the Nasdaq, shares of Luminex were up around 1 percent at $23.43.