Financial Outlook And Guidance

Looking ahead for the full year 2009, the company lowered its revenue guidance to between $125 million and $135 million from its previous forecast in the range of $130 million to $140 million. The adjusted full year figures represent an increase of between 20% and 29% over reported 2008 revenue.

“We are pleased with our performance in the first quarter of 2009. In these unprecedented economic times, the company continued to execute well,” said Patrick J. Balthrop, president and chief executive officer of Luminex. “While there were negative effects on sequential quarterly revenue resulting from caution in overall customer spending behavior, volatility related to both our consumable and assay revenue streams, and a lighter than anticipated flu season, we remain confident regarding 2009.

“Our confidence is supported by the 200 instrument shipments for the quarter, and the mild flu season that affected our xTAG® Respiratory Viral Panel sales in the first quarter has been offset by favorable effects resulting from recent events related to H1N1, or Swine flu,” continued Balthrop. “We did an excellent job controlling costs and expenses, delivering 69% gross margin and earnings per share excluding non-recurring items of $0.04.”

Recent financial and operating highlights include the following:

System shipments of 203 including two installations of FLEXMAP 3D, representing the tenth consecutive quarter of system shipments of 200 or more, and resulting in cumulative life-to-date shipments of 6,097

First quarter consumables revenue of $7.6 million and royalty revenue of $4.5 million

Royalty bearing sales reported by the company’s partners of over $65 million, a 21% increase over the first quarter of 2008

High margin items (assays, consumables, and royalties) represented 64% of consolidated first quarter revenue

Consolidated gross profit margin of 69% for the first quarter 2009, compared with first quarter 2008 gross profit margin of 66%

Announced the release of xPONENT 3.1 Software and other product and partner milestones.