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Luminex beats Street 1Q forecasts

AUSTIN, Texas (AP) _ Luminex Corp. (LMNX) on Monday reported first-quarter profit of $9.2 million.

On a per-share basis, the Austin, Texas-based company said it had profit of 21 cents. Earnings, adjusted for amortization costs and stock option expense, were 28 cents per share.

The results topped Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was for earnings of 8 cents per share.

The manufacturer of testing systems for biotechnology companies posted revenue of $77.8 million in the period, also topping Street forecasts. Three analysts surveyed by Zacks expected $74 million.

Luminex expects full-year revenue in the range of $300 million to $310 million.

Luminex shares have fallen slightly more than 6 percent since the beginning of the year. In the final minutes of trading on Monday, shares hit $18.93, a decrease of nearly 6 percent in the last 12 months.

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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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Keywords: Luminex, Earnings Report