Close Menu

financial guidance

The company beat Wall Street analysts' expectations for sales and earnings per share during the quarter.

Of the $295 million to $305 million in revenues expected in 2017, Luminex executives said that around $45 million should come from automated MDx sales.

The company also said it has closed a new $25 million debt facility, and will use the proceeds to retire outstanding debt and bolster the launch of AlloSure.

The company said it completed 82,000 Cologuard tests during the quarter, a 114 percent growth in test volume during the three-month period.

For full year 2016, the company reported 8 percent revenue growth and net income of $2.02 billion.

The firm also reported that 2016 preliminary revenues were up 14 percent, and that Nanosphere MDx platform revenues rose 32 percent.

The company lowered its financial guidance for fiscal 2016, citing delays in recognizing fourth quarter revenue from its pharma services business.

The company touted the recent spate of positive payor coverage decisions it has seen for its ConfirmMDx and SelectMDx prostate cancer tests.

The company attributed the increase to gains in its molecular business, including $7.4 million in revenues from Nanosphere, which Luminex acquired in June.

The company attributed the uptick in revenues to a 100 percent increase in the number of Cologuard colon cancer tests it completed during the quarter.

Pages