Luminex Corporation Reports Third Quarter 2012 Results

AUSTIN, Texas, — Luminex Corporation (NASDAQ:LMNX) today announced financial results for the third quarter ended September 30, 2012. Financial and operating highlights include the following:

• Completed the acquisition of GenturaDx, Inc., effective July 11, 2012. Integration activities are on-track

• Consolidated third quarter revenue of $50.0 million, a 10 percent increase over the third quarter of 2011

• Third quarter assay revenue of $16.4 million, a 22 percent increase over the third quarter of 2011

• Third quarter shipments of 271 multiplexing analyzers that included 127 MAGPIX® systems; cumulative life-to-date multiplexing analyzer shipments are 9,433

• Achieved a consolidated gross profit margin of 70 percent

• Operating income for the third quarter of 2012 was $3.4 million compared with operating income of $2.8 million for the same period last year, including recognizing $2.7 million of expenses related to acquisition costs associated with the purchase of GenturaDx

• Luminex was awarded Defense Threat Reduction Agency (DTRA) contract worth up to $11.6 million over three and one half years

• Announced that Public Health Wales used Luminex’s CE marked xTAG® Gastrointestinal Pathogen Panel for activities during Olympic and Paralympic events that took place in Wales

“We are pleased with the revenue growth in the third quarter, driven by another solid performance by our proprietary assay segment. Our broad and innovative portfolio of assays is a key differentiator in the market and a driver of long term growth for the company. In addition, we are seeing strong and growing interest among labs wishing to evaluate and validate our latest innovative assays, the CE-Marked gastrointestinal pathogen panel and NeoPlex4. We believe that after FDA clearance, these two important assays will contribute meaningfully to the company’s long-term growth,” said Patrick J. Balthrop, president and chief executive officer of Luminex.

“With a long standing goal to reduce complexity and increase speed of the testing process, Luminex is constantly evaluating internal and external projects that address every component of the process – chemistry, hardware and software. To this end, the technology we acquired in our acquisition of GenturaDx will provide an elegant, easy to use and scalable platform which combined with our MultiCode® chemistry, will expand our product offerings to current customers as well as attract new customers where low-plex testing and ease of use are top priorities,” Balthrop concluded.

“In the third quarter, we experienced a healthy rebound in sales growth while maintaining tight cost controls, as demonstrated by both our gross and operating margins,” said Harriss T. Currie, vice president and chief financial officer. “While we anticipate continued revenue growth in the fourth quarter, we believe it prudent to adjust our annual revenue guidance to account for an increasingly unpredictable budgetary environment among our lab customers, particularly in Europe. This environment has primarily impacted our expectations for systems and assay revenue.”

CONFERENCE CALL

Management will host a conference call to discuss the operating highlights and financial results for the third quarter ended September 30, 2012, on Monday, October 29, 2012, at 5:00 p.m. Eastern time / 4:00 p.m. Central time. The conference call will be webcast live and will be accompanied by a slide presentation, both of which may be accessed at Luminex Corporation’s website at https://www.luminexcorp.com. Simply log on to the web at the address above, go to the Company section and access the Investor Relations link. Please go to the website at least 15 minutes prior to the call to register, download and install any necessary audio/video software. If you are unable to participate during the live webcast, the call and slides will be archived for six months on the website using the ‘replay’ link.

Luminex develops, manufactures and markets proprietary biological testing technologies with applications throughout the life sciences industry. The Company’s xMAP system is an open-architecture, multi-analyte technology platform that delivers fast, accurate and cost-effective bioassay results to markets as diverse as pharmaceutical drug discovery, clinical diagnostics and biomedical research, including the genomics and proteomics research markets. The Company’s xMAP technology is sold worldwide and is in use in leading research laboratories as well as major pharmaceutical, diagnostic and biotechnology companies. Further information on Luminex or xMAP can be obtained on the Internet at https://www.luminexcorp.com.

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