Luminex Corporation (NASDAQ:LMNX) Q3 2019 Earnings Conference Call - Final Transcript

Nov 04, 2019 • 05:00 pm ET

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Luminex Corporation (NASDAQ:LMNX) Q3 2019 Earnings Conference Call - Final Transcript

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Presentation
Executive
Harriss T. Currie

30%. All these factors have been incorporated into our modified range with an obvious narrowing as we approach the end of the year.

With respect to our particular revenue streams, currently for 2019, we expect more strength in our LTG than initially contemplated. And where in prior calls, we've called for total LTG revenues to be slightly down. We now believe that we could benefit from LTG revenues coming in flat to slightly up.

Secondly, and as we've mentioned previously, we expect our flow revenues to recover in the fourth quarter and to deliver approximately $45 million for the year, a growth rate in excess of 10% as initially expected. And with respect to our molecular revenue, we expect our sample-to-answer revenue to be up in the mid-20s for the full year, but obviously when LabCorp revenue is factored into consolidated molecular revenue, we expect total molecular revenue to be down in the mid teens.

One important factor to keep in mind is that we've experienced a lower than average respiratory season. The strength of the respiratory season and how it presents in the fourth quarter is the primary factor in how we might move from the bottom to the top of our range. With respect to profitability, we anticipate that when we deliver on the significant revenue growth anticipated in the fourth quarter relative to the third quarter that we could be breakeven or better with continued control of our overall expense position.

Now, I'd like to turn it back over to Homi for some final comments.

Executive
Nachum Homi Shamir

Thanks, Harriss. As we said at the beginning of this year, 2019 was going to be a transition year for Luminex. We have all the majority of the financial impact associated with LabCorp departure, which has impacted our revenue growth and our bottom line and cash flow this year.

However, as a Company, I'm proud to say that we have weathered the storm and are entering a new and transformative era for Luminex which much stronger, diversified company that will be offering exciting opportunities and new platform across each of our product lines. In fact, next year will be the first time in Luminex's history, where we are launching three exciting new platform across all of our portfolio. And I'm personally very excited for what is going to be happening here at Luminex over 2020 and beyond. This end our formal comments. Operator, please open the line for questions.