Pleasing Stock: Luminex Corporation (NASDAQ:LMNX)

On Friday 23 Aug 2k19, shares of Luminex Corporation (NASDAQ:LMNX) marked value of $891.48M per share versus a previous $19.79 closing price. With having a -2.75%, at the moment are trading at a volume of 137,942, which compares with its normal daily standard volume of 229,239 shares.

Luminex Corporation (LMNX) recently reported financial results for the 2nd quarter 2k19. Financial and operating highlights for the quarter include:

  • 2nd quarter consolidated revenue increased 4% to $83.1Mfrom $79.6M in the 2nd quarter 2k18.
  • Flow cytometry contributed revenue of about $13.2M, or 16% of total consolidated revenue in the 2nd quarter, offsetting the revenue loss of LabCorp Women’s Health.
  • Royalty revenue of $12.8Mgrew 11% over the 2nd quarter 2k18. This reflects over $140M of royalty-bearing base end user sales on Luminex technology, a raise of about 10% over the comparable period in 2k18.
  • Sample-to-Answer revenue grew 29%, and sample-to-answer assay revenue grew 31%, over the 2nd quarter of 2k18. Additionally, we placed 48 sample-to-answer molecular systems under contract during the 2nd quarter of 2k19.  Active sample-to-answer consumers approximated 640 in the quarter.
  • Gross margins of 54% in the 2nd quarter, directly affected by the departure of LabCorp revenue coupled with the Flow Cytometry acquisition and integration. Gross margin on the flow revenues individually was 43% and gross margins on the pre-existing non-flow revenues was 57%.
  • On a GAAP basis, the Company had net losses of $4.9Min the 2nd quarter 2k19, or $0.11 per diluted share, primarily driven by the departure of LabCorp revenue and the integration of the Flow Cytometry acquisition.
  • The company is increasing its quarterly dividend by 50% to $0.09/share effective immediately with a record date of September 26, 2k19and a payment date of October 17, 2k19.

FINANCIAL OUTLOOK AND GUIDANCE

The Company intends to provide yearlyrevenue guidance, to be updated, as appropriate, at each quarterly reporting period. Luminex anticipates its third quarter 2k19 revenue to be between $80M and $83M and reaffirms its full year 2k19 revenue guidance of between $337M and $343M.

The short ratio in the company’s stock is documented at 7.50 and the short float is around of 4.06%. The average true range of the stock is observed at 0.55 and the relative strength index of the stock is recorded at 37.44.

 

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