USTIN, Texas, Oct. 7, 2020 /PRNewswire/ -- Luminex Corporation (NASDAQ:LMNX) today announced 3rd quarter 2020 revenues of approximately $106 million, up approximately 35% over the 3rd quarter of 2019. Highlights include:
- Molecular Diagnostics revenue of approximately $60 million, up almost 100% vs. Q3 2019
- Licensed Technologies Group revenue of approximately $35 million, down 10% vs. Q3 2019
- Flow Cytometry revenue of approximately $10 million, up 13% vs. Q3 2019
"We successfully executed on our revised plan and finished the quarter with revenue of approximately $106 million from our strong and diversified business," said Nachum "Homi" Shamir, Chairman, President, and CEO of Luminex. "We continue to experience tailwinds in our MDx business as we help combat the COVID-19 pandemic, with orders for our ARIES®-based, COVID-19-related products continuing to outstrip our ability to supply. We have completed our planned expansion activities on our NxTAG® line and the expansion of our ARIES® manufacturing line should be completed during the 4th quarter, and will help us to address the backlog and continued strong demand for our COVID-19-related PCR products. Our Clinical Tools and Life Science business is beginning to see recovery from pandemic lows, but we are still experiencing some headwinds. We are also looking forward to several near-term product launches that will further solidify our extensive portfolio."
The full financial results for the quarter, and any changes to 2020 guidance and/or provision thereof, will be discussed on our third quarter earnings call, currently scheduled for November 2, 2020.