Luminex Corporation (NASDAQ:LMNX) Q1 2018 Earnings Conference Call Transcript

May 07, 2018 • 04:30 pm ET

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Luminex Corporation (NASDAQ:LMNX) Q1 2018 Earnings Conference Call Transcript

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Presentation
Operator
Operator

Good day, ladies and gentlemen, and welcome to the Luminex Corporation First Quarter 2018 Earnings Conference Call. My name is Carmen, 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 Harriss Currie, Senior Vice President and Chief Financial Officer for opening remarks. Please proceed.

Executive
Harriss T. Currie

Good afternoon, and welcome to Luminex Corporation's conference call to discuss our first quarter of 2018 financial and operational results. On our call today are Homi Shamir, President and Chief Executive Officer; and me, Harriss Currie, Senior Vice President and Chief Financial Officer. We'll be following our standard agenda today. Homi will review our corporate highlights, I'll review the financial performance. This 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 for 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 Securities and Exchange Commission. 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 measure will be 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.

Executive
Homi Shamir

Thank you, Harriss. Good afternoon and welcome to our first quarter 2018 earnings call. Today, we announce solid results for the first quarter of 2018. Our strong performance in Q1 was driven by the continued success of our molecular diagnostic franchise. Our sample-to-answer portfolio which grew by nearly 50% in the quarter led the way. Our respiratory product result exceeded our expectations due to this year severe flu season and went just beyond what we had included in our guidance assumption.

In the aggregate, each of our MDx portfolio platform, nonautomated XMP, ARIES and VERIGENE grew at a double-digit rates. The growth rate of our blood culture and EP