Luminex Corporation (NASDAQ:LMNX) Q3 2016 Earnings Conference Call - Final Transcript

Oct 31, 2016 • 04:30 pm ET

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Luminex Corporation (NASDAQ:LMNX) Q3 2016 Earnings Conference Call - Final Transcript

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Q & A
Executive
Homi Shamir

and we are doing what we said after 4, 5 plex. And on top of that, we are putting all of those results from the V1 that we add into the results that we are planning to move much faster on the Nanosphere system.

Analyst
Dan Arias

Maybe just one more for me, if I could. A clarification on the CF business that's offsetting LabCorp. Homi, did that increase this quarter? Or were your remarks referring to the new customers that you alluded to last time around?

Executive
Harriss Currie

So yes, the CF business that we added, that is in addition to the LabCorp business, grew in the third quarter. But as we mentioned before, it's not a full offset to the ultimate loss of the LabCorp business. It just helps temper the overall loss of the business, so that in 2017 when CF finally transitions out completely from LabCorp, which is the current expectation once again, that the decline will have less than a $10 million effect on total assay revenue.

Analyst
Dan Arias

Yes, I got you. I was just trying to understand whether the amount that you were thinking was going to be an offset last quarter is the same or different from where you are today. It sounds like the growth might have things up a little bit there.

Executive
Harriss Currie

Little bit.

Operator
operator

Thank you. And I'm showing no further questions at this time. I would like to turn the call back to Mr. Shamir for closing remarks.

Executive
Homi Shamir

Thank you Caley, and thank you, everyone, for your attendance on our earnings calls. We look forward to seeing you in person in the very near future. Have a great evening.

Operator
operator

Ladies and gentlemen, thank you for participating in today's conference. This does conclude the program and you may all disconnect. Everyone, have a wonderful day.