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Luminex: 1Q Earnings Snapshot

AUSTIN, Texas (AP) _ Luminex Corp. (LMNX) on Monday reported first-quarter net income of $2.9 million.

On a per-share basis, the Austin, Texas-based company said it had net income of 7 cents. Losses, adjusted for pretax gains, came to 7 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 7 cents per share.

The manufacturer of testing systems for biotechnology companies posted revenue of $82.4 million in the period, which also fell short of Street forecasts. Five analysts surveyed by Zacks expected $83.1 million.

For the current quarter ending in July, 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 climbed almost 5% since the beginning of the year. In the final minutes of trading on Monday, shares hit $24.25, a climb of 13% 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