Luminex Corporation (NASDAQ:LMNX) Q4 2017 Earnings Conference Call - Final Transcript

Feb 12, 2018 • 04:30 pm ET


Luminex Corporation (NASDAQ:LMNX) Q4 2017 Earnings Conference Call - Final Transcript


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Good day, ladies and gentlemen and welcome to Luminex Corporation's Fourth Quarter 2017 Earnings Conference Call. My name is Bryan and I will be your coordinator for today. Today's call is being recorded. At this time, all participants are in a listen-only mode. Following the prepared remarks there will be a question-and-answer session. [Operator Instructions]

I would now like to turn the call over to Matthew Scalo, Senior Director of Investor Relations for opening remarks. Please proceed.

Matthew Scalo

Thanks Bryan, and good afternoon and welcome to Luminex Corporation's conference call for the fourth quarter and full year 2017 financial and operational results. On the call today are Homi Shamir, President and Chief Executive Officer; and Harriss Currie, Senior Vice President and Chief Financial Officer. We'll be following our standard agenda today. Homi will review our corporate highlights. Harriss will review the financial performance, and after that we'll open the call for your questions.

As a reminder, today's conference call is being recorded and a replay will be available for six months on the Investor Relations section of our website. Certain statements made during the course of today's call may not be purely historical and consequently may be forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, and the Company claims the protections provided by Section 21E of the Securities Exchange Act for such statements.

These forward-looking statements speak only as of the date hereof and are based on our current beliefs and expectations and are subject to known or unknown risks and uncertainties, some of which are beyond the Company's control that could cause actual results or plans to differ materially and adversely from those anticipated in the forward-looking statements. Factors that could cause or contribute to such differences are detailed in our Form 10-K for the year-ended December 31, and our quarterly reports on Form 10-Q filed with the SEC. We encourage you to review these documents and we undertake no obligation to update these forward-looking statements.

Also, certain non-GAAP financial measures as defined by SEC Regulation G may be covered in this call. To the extent that any non-GAAP financial measures are covered, a presentation of and reconciliation to the most directly comparable GAAP financial measures is included in our earnings release, which is available on our website in accordance with Regulation G.

I'll now turn the call over to our President and CEO, Homi Shamir.

Nachum "Homi" Shamir

Thank you, Matt. Good afternoon and welcome to our fourth quarter 2017 earnings call. On January 7, we preannounced strong result for 2017. Our performance was driven mainly by our molecular diagnostic franchise. We delivered over 40% growth in our sample-to-answer molecular testing businesses. Given last month's release, I will keep my prepared comments short and focused on the future.

Earlier this year, we announced five years' financial targets for our businesses. In 2022, we expect to achieve total revenue of between $425 million and $500 million, a CAGR of between 7% to 10%. This revenue range take into