On January 12, 2020 Luminex Corporation (Nasdaq: LMNX) reported 2019 highlights and 2020 guidance (Press release, Luminex, JAN 12, 2020, View Source [SID1234553041]).

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All amounts in this release are in conformity with U.S. generally accepted accounting principles ("GAAP").

Preliminary results, contained herein, are based on management’s initial analysis of operations for the quarter and year ended December 31, 2019 and are subject to further internal review and audit by the company’s external auditors.

Current Highlights

Total fourth quarter revenue of $90.4 million, an 11% increase over Q4 2018.
Total full year revenue of $334.6 million, up 6%; and up 19% without consideration of LabCorp revenue and including the effect of the Flow Cytometry acquisition.
Sample-to-answer full year revenue of $75.7 million, up more than 20% vs. 2018, including contracting 200 additional systems.
Licensed Technologies Group full year revenue was relatively unchanged from 2018, as expected; however, end user sales of our technology increased by 12% year over year.
Flow Cytometry full year revenue of $45 million, up 11% vs. 2018.
Anticipate being profitable in the fourth quarter of 2019.
Continued $0.09 per share dividend in the fourth quarter of 2019.
2020 Guidance

The company expects 2020 consolidated revenue to be between $352 and $362 million, up approximately 7% to the mid-point relative to 2019, which includes approximately 2 to 3 percent headwind attributable to the departure of certain remaining sales to LabCorp.

CEO Commentary

"2019 was a transition year for Luminex as we adjusted to the departure of certain sales to LabCorp and the integration of the Flow Cytometry acquisition," said Nachum "Homi" Shamir, President & CEO. "I am very pleased with the significant progress we are making. Luminex is now a more diversified company, with opportunities for strong organic growth, profitability, and cash flow, and exciting new platforms being launched across each of our major product lines. We are well positioned to achieve our mid-term target of $500 million of annual revenue in the next 4 to 5 years."

Luminex Presentation / Webcast at 38th Annual J.P. Morgan Healthcare Conference on January 14, 2020

Luminex President and CEO, Homi Shamir, will present at the 38th Annual J.P. Morgan Healthcare Conference to be held at The Westin St. Francis hotel in San Francisco, CA on Tuesday, January 14 at 12:00 p.m. Pacific Time. A live webcast of the Luminex presentation may be accessed at the company’s website at investor.luminexcorp.com. The presentation will be archived for six months on the website using the ‘replay’ link.

Fourth Quarter and Full Year 2019 Earnings Release on February 10, 2020

The company plans to report results for the fourth quarter and full year ended December 31, 2019 and provide details around the 2020 revenue guidance after the market close on Monday, February 10, 2020. Management will hold a conference call to discuss the operating highlights and financial results on that date, at 5:00 p.m. Eastern Time.