Luminex Corp. develops, manufactures and markets proprietary biological testing technologies and products with applications throughout the life sciences and diagnostics industries. The company was founded by Mark B. Chandler and Van S. Chandler in May 1995 and is headquartered in Austin, TX.
Total revenue was $82.4 million for the three months ended March 31, 2019, down slightly from $82.7 million for the comparable period in 2018. The Company experienced a decrease in our non-automated assay revenue, mainly attributable to the decrease in LabCorp sales. These decreases were largely offset by the addition of our newly acquired flow cytometry business, which comprised 14% of total revenue in the first quarter of 2019, as well as increases in our automated assay revenue. Non-automated assay revenue comprised 48% of total assay revenue for the three months ended March 31, 2019 compared to 68% for the comparable period in 2018. Automated assay revenue, which consists of VERIGENE and ARIES® assays, grew 15% to more than $17.1 million for the three months ended March 31, 2019 from the comparable period in 2018.