LMNX - Earnings call transcript Q2 2018

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Operator

Good day, ladies and gentlemen, and welcome to Luminex Corporation’s Second Quarter 2018 Earnings Conference Call. My name is Brian and I will be your coordinator for today. Today's call is being recorded. [Operator Instructions] I would now like to turn the conference over to Harriss Currie, Senior Vice President and Chief Financial Officer for opening remarks. Please proceed.

Harriss Currie

to XXXX conference financial welcome our to and quarter second and afternoon Luminex call Corporation's discuss Good operational results. today Chief call Shamir, our – today me On is President and Executive Officer. with Homi our standard We’ll be agenda. following Homi will review performance up after and call highlights, we’ll the your the open financial that, for our review corporate I'll questions.

protections forward-looking during Securities and reminder, replay uncertainties, risks Investor are and for made plans on and anticipated the available on the the cause company’s provided course and will Relations for Securities speak and are Certain President Act SEC XX, to Private certain will as we presentation CEO, known control for differences accordance website actual Act in those to Commission. today’s of the that with is materially the covered six the historical subject December forward-looking call website. statements turn earnings Litigation quarterly may G, by Form non-GAAP in the measure could adversely forward-looking beliefs be no unknown being I’ll encourage documents and We is with review extent call call. measures, comparable of of our XXXX detailed included are which are Section such such on now in be conference reconciliation Form Homi a or Also, based a Securities forward-looking company our today's these defined be As covered, these and that the hereof our as recorded and These over XXE statements or that a in of in any our our available section for the Regulation could date financial may to statements. the G. to within and GAAP Exchange XX-Q to some release, Shamir. year-ended the the update beyond and of obligation financial to expectations purely which only Factors non-GAAP results of be directly reports our and of Reform call consequently financial contribute months meaning and statements XX-K measures statements. not and from the most you undertake cause the be Exchange To are our to differ current Regulation may this the filed statements. by claims on or

Homi Shamir

XXXX to and call. the afternoon Earlier you, earnings we our this posted quarter of second Good Thank second Harriss. afternoon, our for welcome quarter XXXX. results

pleased diversified are certainly with performance businesses. the of our We

the diagnostic Our in grew the growth led our was sample-to-answer our in which way. of the franchise, XX% quarter by continued success QX led molecular by portfolio

very have contracts Further, continued trajectory, are We systems customer continued active new sample-to-answer XXX. which annual ordering pleased than bringing during on momentum continued year. by currently XX end $XXX,XXX our be track of the achieving target and on continue on XXX to stands nicely of and per XXXX. annual closed this support to quarter, customer our QX, during our range growth another to record at to per rate run more million base VERIGENE our we sample-to-answer Based to our will goal

history xMAP we placement quarter, as achieved with challenging in placement. highest Luminex exceed XXXX to the in guidance the X% on and assumption. compared our was We QX placement LTG we XXXX in of face with of another number were are consumable well system line up Notably, stream our expectation were Our into incorporated revenue Results healthy. XXX track communicated. previously system to QX

for the year the to date for and royalty our quarter by X% Additionally, grew period. X% by

indicator full primary in the mid-single royalties end a the in revenue are as of the grow technology marketplace. to increased We our reminder, growth LTG expect of result still stream sales, of the a use As the user trials. LabCorp three, Two, in which Health like of R&D confirmed touch would initiation the progress the departure Today, One, clinical digit And for Women's to year. I in businesses. quickly on of X topics. our pipeline. VERIGENE three the

for At earning update on by the enteric to an mentioned fair VERIGENE in our and our to that than or a has to panel I'm during X year beginning time, enteric GI trials. We sites second say anticipate by First, the clinical say trial. end clinical happy be our X XXXX. that season. more early it’s enteric we respiratory panel system trial in flu We XXXX. of of trials this have will we the by expect upcoming begun. VERIGENE The participating clinical quarter to clinical previous in XX commence calls for submission late followed trial, the this testing system or trial the the FDA our

close as XXXX have possible our shortly impact the previously, we in being plan market As market launch maximum generate culture together those goal to to bring said there. to after blood two with to as panels panels we

in order to XX.X related the to quarter XXXX their those of women’s foundation months call, January NuSwab that the LabCorp health portfolio XXXX. from LabCorp made products the for million mentioned XX earning minimum the of commitment confirmed our quarter. placed period product, we as Secondly, second was has first June of their in last

innovation extremely reposition excited continue industry. will be at about of forefront we Luminex our Finally, product pipeline, which in believe our the to we

XXXX second and that backward made XX to with market commitment last a to to for increased introduce systems and in has half deliver the communicated all technology are to approximately a the have a providing with leader the on We platform next date. well of benefits providing XX,XXX science dynamic in life features new industry Also system way compatibility. our rates xMAP xMAP that generation our sensitivity, years capability market the automation installed and

One provide lower well we targeted at we platform fact, and solution our to with risk very at new higher flex systems. VERIGENE X technology our our Luminex In a have it and forthcoming with received. prototype advantage displayed and plex week syndromic solution both is last VERIGENE was this of AACC ability

shifting same the with combination the be offer law started assay, the technologies have same VERIGENE flexibility standard in and time system enable VERIGENE X which module. plus the at systems will VERIGENE X, menu instrument X quantitative performed. to higher VERIGENE allow into with resources option, on leverage trials of strength VERIGENE system the and capabilities. system. X clinical combine compatible allow our that for be VERIGENE the will backward our those plus quantitative and module module to will power increases times, and VERIGENE both to The and of the chemistry we X assay of new X plex, X also be perform the time are assays features faster to plex will Now the The VERIGENE incorporated user same turnaround expanded X two best be interchangeable The all real module of VERIGENE the on the plus the X R&D

demonstrated this respect and to great week breakthrough also last VERIGENE at AACC technology our strategy. We received overall feedback with

of a NuSwab departure confident also across our portfolio, revenue remain million. between while guidance million account, XXX of LabCorp XXX into our As the in to performance we of taking XXXX the result strong

final will afterwards, data financial the and some review will Harriss with return I thoughts. Now,

Harriss Currie

Thanks, Homi.

As up revenues year. prior had X% over consolidated we the good Homi quarter mentioned, another with second quarter,

was Performance up was our up stream franchise, million molecular diagnostic continued by success quarter, driven the here which XX% XX sample-to-answer the revenue for was for X%. Our of the quarter.

For of quarter. continued products, active utilization to has increase per each our both customer the sample-to-answer number the customers and

prior rate year utilization ARIES, annual XXX,XXX, the quarter, our was products up per second annual XX%. and the quarter VERIGENE for to increased For from customer XX% average the utilization for XX,XXX, up

and half compared timing partially by against the favored XX% year offset in to revenue million thinking consumables XX.X important was XXXX. couple licensees, of X% very quarter, a keep of first the order items Our by plan internal to in when of A about up quarter, our LTG mind increase that LTG revenue. sales stream driven select up the system prior to for our

as will second XXXX, concentrated of year result total the in of recall year, of this weighted back the you'll consumable we a the half higher First, presentation. revenues with much more be expect current In XX% the the half a of a purchases. in of LTG the coming that year, revenue in first the approximately had concentration towards that half we normalized

from quarter XXXX, Finally, first increase LTG of sequentially X% the by almost XX% up in were revenues driven system sales.

allocations under our system driven reported prior by grew royalties. to XXX increase and systems, ARIES second were year arranged placed XXX to for XXX Turning the quarter, user the increase our not and reagent in revenue the above line high include systems X%. findings per xMAP in with In last placements, by ARIES the down deliver an and addition lower an This minimums, the sales reflecting those record during for revenue we quarter, our end base to sales reagent we're rental. Royalty sales revenues the similar X% placed prior in purchases quarter. item, quarter both partner between sales partners of up system VERIGENE quarterly which of of are or track year, consumable communicated compared prior sold for bulk do our royalty audit multiplex of End xMAP system and a and communication, XXXX, on over and or is to revenues VERIGENE to primarily high adjustments in our for year. Included a relative our other systems, XX% were large by quarter. rental line higher

marketplace. and reminder, is adoption sales use indicator a growth of user of the the technology As of our end in primary

women's for has confirmed increase as quarter order in thing that for health panel, their placed mind respect products. XX-month quarter. Assay second the to foundation keep previously, the X% Homi of these revenues January XXXX their our revenues with XX% forward, period met One going through portfolio assay commitment XXXX. health last XX.X were in to to automated related up LabCorp minimum the proprietary with LabCorp million was the confirmed their June a products women's the in for of

LabCorp million approximately Women's XX contributed all ancillary and Revenue XX.X approximately total approximately as of revenue million, XXXX, down during reference, broken products million. million. other XX XX For fibrosis follows. cystic was health

transitioned sales products to end as through said previously, Women's the reason LabCorp XXXX. year attributed in We a for orders to I our discussed system the Products XX% ancillary placing The the down for this most quarter end product be are potential second of Orders are of As and be LabCorp quarter, the continue also the likely for proprietary to by and longer other XXXX. of contract panel primary at orders increase X of with end, revenue, the material remainder products for least XXXX continue Health expected least consumable will margins expected will out. reduction mix no to from be decline in previously. posted CF with can percentage points gross for at on decrease of XXXX. a in their

on margins focus improvement efficiency. sample-to-answer increases to volume cost continue both through and our We of

to was quarter. Operating translates in control million, operating operating continue was in with We the to prior down SG&A the X% year a margin. our expenses and over OpEx quarter. Overall, R&D expenses XX% both declines which profit X.X

Our quarter the second audit. XX% effective The the tax for quarter the XXXX to included rate as of tax was of in expense income to the XX% second of item compared results related XXXX. street the Canadian XX%

is approximately consolidated including Global incorporating Intangible quarter updates. rate to rate but Income, year discrete XXXX GILTI Low related XXXX Tax reform XX%, new four is or estimated full to be XX% XX% tax and expected after this tax items other full to XX% rate year XX% Our federal to for the

debt balance Our sheet investments. and cash no strong million XXX and remains with in

and or mentioned, new license that in technologies have to we for of $X our Homi million. licensing Year-to-date, enhance obtain made begun portfolio technology can resources made agreements investments products. deploy As for over we’ve help investments

of receivable the DSO accounts revenue user when cash partner. Prior had in in million an each adoption to end of due us were they new as the which timing of standard, inclusive recognition quarter quarter royalties required in revenue the the no quarter, the to also receivable unbilled changes, the to closely recognized we our record You’ll by for coincide dividends paid. of paid note XX.X in We of generated our increase estimated the X.X with recognition the million. royalties sale an more to

in to quarter third of a little visibility XXXX. Finally, the

million and million quarter and reaffirm year of Third XX.X we our between and fall are guidance XX.X expected XXX million. revenues full million between to XXX

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

Homi Shamir

Thanks, Harriss. businesses. continues In demonstrate the of power Luminex closing, to the diversifying

was development week. to Our model in meaningful Association This pipeline product continues of we reinforced we wisely entire received Chemistry our and Clinical commitment the pipeline American businesses. in to conference at remain last the product by drive across feedback growth committed our investing excellent

will said be continued many growth inorganic through both times, organic I’ve means. As achieved and

losing We’re never on the line. focus bottom

existing a organic our carry for our sales Operator, growth attractive allow pipeline, to our current that the we and In sheet comments. for opportunities addition to please M&A us synergetic open projection. accelerate questions. formal to R&D strong ends This balance to line continues further

Operator

will with first Sung BTIG. come Instructions] from line Ji [Operator our of Nam question And the

Sung Ji Nam

could Harriss, xMAP strong or quarter? that seems maybe placement Homi you about the tended but very to know talk this lumpy, I high. be system it

pretty a to number it maybe one in a you or and based drove talk strength. was record customers about You could what attributable broad was talked about of so that that terms or few it being and

Harriss Currie

concentration, broad thought some in actually a evenly would questions distributed from based. was time the time part, us, for was was It A foreign So, base. where concentration technology, part, China system up in Sung replacement across partners surprised the that was our some go continue our it was to with Ji, through most we broadly some land, above it mostly question. thanks but partner certainly invest especially to big. for lot and of for but not It cycles reasonably it that the most number in -- the with for we're overly

Homi Shamir

close believe, showing last moment, XXXX will that we focus either above still at or we And which systems. today same the we the believe be achieved we year, is our to

to in the business mean, partner we AACC. about continue good more more place last I what So and continue and to week for were be that’s us. system talking

Sung Ji Nam

kind number follow-up, for a might just the half, then as margins, us if LabCorp of second going be gross is a And wondering the for away? to you given ballpark business able give

Harriss Currie

Sure.

half, just in as expect increases and would year. product obviously certainly So to and gross the at to to drop sample-to-answer with as we the that rise during consumable mentioned, margins to the margins be partnership on the as where gets volume business of line us the were it I revenues, continues royalty it more continue a XX%, -- result surprising to grow levels however, back more if wouldn't stronger the back we below this grow, the

Operator

And Peterson come our the Tycho J.P. from line next question will with of Morgan.

Tycho Peterson

X. I VERIGENE guess a VERIGENE on couple and

out greater exchange upgrade maybe commitment we think path and require VERIGENE as that. we VERIGENE X of about with X kind the start with plus So rental here, a reagent for swapping

Harriss Currie

So the let plus clarify Tycho VERIGENE me that, system. first something X X VERIGENE is is a within module

an the So remove the embedded and system it a has stay and plus module would X replace VERIGENE that fluorometer. you with module

be have they X in if with VERIGENE they reagent compatible plus you’d assays, everything X a that point, the would VERIGENE run plus we to that, rental incremental backwards plus certainly but that assay. where the a run run the did situation situation could modules at ability the could also agreement, where would the we command be module likely So since X increases to in

Tycho Peterson

clinical Okay. just VERIGENE thinking timelines, can the for X should how provide trial about that? And be we then you plus,

Homi Shamir

Tycho, no, are the a we timeline. At flu the start enteric, then the season, complete. coming the respiratory now blood have are to this Obviously, moment, the concentrating module flu the We in up culture. we clinical, season, fierce flu with start we in foot we

as start in we we very also two MRCA the to assume we clinical planning those trial major and shortly. I make that of year, will beginning start next So progress are

we et team to more into and planning clinical cetera. people So are -- and add the not trial

to and tube we define some realistic plus next or go will we STI to for what VERIGENE we’ll station do the clinical tube there year, fast the still also the beginning are the we timelines of try working to, base call fast be respiratory. X what So at providing I or start or

best to with. So, we’re to still debating which the is start us

Tycho Peterson

in I in upgrade was here see you there that just out at any impact the then, today, we you $XXX,XXX the And called as of quarter. think utilization guess flu do VERIGENE and where on heading lastly about that through, pull you’re light path

Harriss Currie

so at we significant was a So big assays. from second respiratory contribution and see didn't quarter flu not quarter our all a

bit, see We the certainly grown could are of little years. from see fact, that up quarter. second that XXX is pretty that active a are as fell utilization menu is launched respiratory ordered significantly obviously reference gain In about to you’re we in VERIGENE customer, we placements, over the utilization per items creep and second should past VERIGENE the as first talking volumes the X the off number just to for GPO consistently the additional it’s continue Utilization there customers quarter. number everybody's couple

In fact, of in worth as and that the those added get since acquisition, up accounts year's volumes accounts, full come and number's both those a We've it risen. has. accounts to utilization,

customers with first you of help started their it’s year don't this a to is math that, of and and the the months. have in you yet quarters belt that what is, average past the little activity bit under full So a there have in the it year over that second XX

So to XXXs, up possibly upwards, that into expect we maybe the continue XXXs over the time. drift to number,

Operator

And with our the come Leonard of Deutsche next question Dan will line from Bank.

Dan Leonard

clarify on Just the to LabCorp. want comments

about million headwind thinking going $XX call that were you the we today annual and annual the to away? a signaling previously, is revenue on number, the headwind closer there's actually number were million because a $XX some So as about other

Harriss Currie

the of Yeah. first year. I this in mean half

proprietary components. million Of did thing of health this components and million, $XX about important is LabCorp, all which they non-proprietary in to over women's one did just the half health includes portfolio, total, the first of over revenue. components, $XX the little consider year, So in the both the women's total

million and build proprietary is attributable that's number. components the other are half or not million the of the -- so that As to into a panel year There we to piece that $X year end has we million see of year, that are end that anywhere until gone not health of or stuff planning to million will there where ultimately proprietary plus and $XX ordering. the for as they over quarter that’s were move miscellaneous that going we and of of women’s we'll $X XX their It’s of see. components other be. result, back of health There will the most those $X be next continue to to then are will it amount what not stay. the likely, are is that half just we million fade by heading, are another the shouldn't falloff away obviously, the And women's year of they back happens, a products. in a conservative order the expectations in utmost away CF then LabCorp order be the a the and would this other go go modest

Homi Shamir

us if willing with will until we to the I shedding be but business. XXXX, bet not moment, the to commitment this tear. important we not is to health operation have a end till CF, are we that, they product months component, of are renewal. rest XX for the we which have behind it's as I'm buy, women them The a there, tied to three they buy. or At they there continue with the will really a to That’s stage, is trying XXXX. stay the At What like that is decide will not demand, say something or standard a of months XXXX not the

have, business difference it nice it's business And our So, sample-to-answer must wanted our our concentrated but we we a have. bio our is along in basically around building we’re the not It’s we all to in the keep past, as as that to at on to just to -- are that LTG. everybody allude business. saying looking

Dan Leonard

final analyzer. my on And multiplexing question the then strength follow-up in

it? a So there other in that if of to to do from in any And think you was anything this multiplexing anything, there of you occurring you China. in was you have pre-buying couple some tariffs do think quantify earnings do, related idea how companies analyzers? heard we've strength your of Do season advance

Homi Shamir

maybe Could in X% be, but there. it's

Okay.

because So growing of we're that. again, not and well it's

just wasn’t instrument But offer focus, saying, think toolkit we at have the end again relative of again record strongest year don’t small system. everybody, China up in end but influencing thought to like exceed in it as science when nevertheless, to now we the look overall that I other good year, keep is will part is going China good quarter either us it way, we our very in the company similar or there. that quarter. I a I can it’s I of seeing we the the this will – that’s be XXXX, and If we we can remind here, not a QX flip all to it and are think and was only the XXXX we’re then, showing year, a the by a instrument to strong front we be see but be you reported at But of a our life side going from all business partner, to – very year.

Okay.

better I a anticipated. each of them had think than

So the royalty meaning months. we up see the the also X% for the is and grow this royalty, think six strong it royalty. X% environment I quarter it’s in can at Look and

numbers. are those So good

Operator

of Weinstein next Brian the Blair. come line will our with William question from And

Andrew Brackmann

for of the growth sample-to-answer Brackmann on I XX%. Brian. Andrew actually start is This this wanted on to quarter

past, talked about the in still think XX%. stand? around a Does had goal Thanks. XXXX that I of you

Homi Shamir

No.

a our million we running reach of end rate goal year. keep that of like think I would was to the and next we by saying $XXX

the we So goal that that's are targeting.

XX% to we growth quarter, have growth. XX% in close the plus what first have the we think I

and sample-to-answer probably for to think to us full this year that. around We’re $XX the growing million $XX year, talking million we’re I the to in bring

but next to by $XXX we close the our year. rate is biggest So targeting, where target running of are end million the obviously that's of

Andrew Brackmann

upgrade? would percentage a base Gen the be little that? And that What maybe could you for then for your Next talk on of system, now about bit right market eligible xMAP installed the

Homi Shamir

be an instruments. have offering. to XX,XXX of will Obviously, installed it base We new close

upgrading to to they it’s buy to not to instrument be. seeking are instrument the existing want the, new mean, upgrade installed partner can are take and base. obliged it, whoever But their take field and our will basically the we new I So a

you they’re years customer, still ask technology. if using me, So there XX is

again a So and it’s developing to seeing upgrade we’re great partner Most still life and go reflecting strong given going and the science, at them opportunity to what our and base assay a installed perform on new continue of instrument. the very it's business. well

happy we like to So very and show accelerate the this we to develop us way this continues the growth are I in to think instrument in a new going it’s year. AACC,

Operator

next our line And come from with will the Arias question Citigroup. Dan of

Dan Arias

Homi system or You this XX Harriss, placement said what was sample-to-answer. quarter? the number VERIGENE

was? what how the XX closing curious VERIGENE number number was is that quarter installs, that you phrase the on from clarify, contract to then you last I and on specifically mentioned Just the XQ. XX that's And think just that the

sure it have placements in So of versus orders. terms just right making I

Homi Shamir

Yeah.

or have remember, can on you mainly commitment the the the annuity obviously, least been actually. of over two in are amount purchased with VERIGENE really business we VERIGENE coming system contract out again very, system a pleased is, said to small the very was very Asia, contract, for purchase years few at third amount, have under number but that we and we we have that’s a we where majority the when -- and think I USA small placement

Dan Arias

about your you next of that point? changes base get the so like that revenue at what kind the if franchise, update we can looking user run are look on offerings, GI thinking or year at an over then just you GPP days, maybe will And the does these what this rate Harriss, have we’re with Okay.

Harriss Currie

Yeah.

technology for Dan, you’re the So about xMAP talking GPP.

Dan Arias

Correct. Yeah.

Harriss Currie

United in lot happens They’re strong where rooms situation and out a at get this up of the where during you They’re bit once you knows to the the year. what once. in people for run go leave food emergency samples actually patients from present tiny and in that So and remain and a others those it pandemics, a get need That year and summer in sales they last States work to best lot outside as a year-over-year. sick of applicable happened. typically primarily that’s who

So that present is as that It's rate at time a result, one works But franchise a and losing situations not sample-to-answer ground I better. there. strong. technology, more we're obviously the it at think the – a lot not GPP the in where sample-to-answer remains growing based franchise a people

Homi Shamir

for market trying actually stages to Japan the we’re develop we’re this I And to on get and approval there. now think in final in product

GPP, we're the on respiratory, On working in China. the

So in in high something the that be is large product. need whenever a and product. epidemic there they we're very concentrate It’s going move positioned to opportunity with quantity can cost, a low that will great

Operator

with come next the Couillard our line And question Brandon of from will Jefferies.

Brandon Couillard

mid-single digit for is of you whether and you the think could through growth sort us Harriss, the help that line for full think of the the back half still the still trajectory year? of consumables relevant business year in

Harriss Currie

up lost half there, last you Can broke repeat the I You question. it please? our of

Brandon Couillard

line the through you is the consumables Yeah. year. through it still still year that trends of I think mid-single growth was that think the for the just saying, full back relevant for and half digit whether

Harriss Currie

quarters, a growth result back purchase a we believe applies. possible is but be do. the digit mid-single it’s between It’s third revenue phenomenon, more than still that carry choppy front We that bulk the by expect to revenue if the the more that certainly fourth its rate as half as of in back We consumable where and to it’s choppy nature I certainly half, some – you normalized growth see said half. presentation

Brandon Couillard

the of half. about the back year, think slightly were corporate take EBIT And that to those you then it and gross of a lastly thinking fair the revenues with off that back mentioned drop rolling off I through above respect the in to roll impact in through the in previously it gross margins terms from margin NuSwab on average. Is the XX% half

Harriss Currie

The margins product are for averages. our the corporate women’s health higher than

take revenue down. loss obviously of you XX% than So, more the

year revenue. this number that I about one of the over be going is $XX mind to front half. keep of did in the million it Now in year, to half what mentioned just of that the back of is earlier half this in half In that was LabCorp little thing a about first

the the of effect year, that loss revenue. above profit margins a back a of of on for absolutely So gross half margin profitability you with have corporate operating modestly and impact

year, half the not even are the in going quarters the back the through it’s half fourth is front third be of back half half. year, expectations but moves about and Now, what the necessarily their to of currently in that was the of it LabCorp

Operator

And our question the next Quirk Piper [Operator of from Jaffray. will Bill line Instructions] come with

Bill Quirk

I little so dynamic you apologize, the that's the competitive update I in can just to space? I up. late on these, here, any highly fine, follow the But multiplex in jumped if addressed we it cover already guess, a

Homi Shamir

is changed. time, customer. also them leader BioFire against competes and same continue them, new the and we but at see Nothing the we to

competitor. a that’s So

Harriss Currie

significant our Bill, our of from. in all GPOs lot a amount coming top of the given runway presence that’s a has us five a where is of systems, of place success to lot

and advantage. GenMark, So, listed BioFire are others us five the and in so it gives all unlike others, we top modest a

Bill Quirk

should installations? starting other predominantly reason is I in blood at, to bringing for or just menu help using initial the look then see or and VERIGENE those you test to I it some of, the some the guess, drive are people or terms preference still in the And of tests say,

Homi Shamir

GPP and blood is by Not No. the We’ve – or RPP driven enteric, for okay? by only time culture. long been business

And salesforce and capability together a selling the salesforce continues the RP system bringing and GP to business with we having accelerate. the also have of definitely, low-plex integrated that’s is our an why assay. successful that So the

the we as majority on that So, well, why of we and there to rolling we almost up year continue the X, is, now, our to a yeah, customers. but coming RP when the are assay GP that’s VERIGENE and focusing blood make from roll grow X from growth it together sure with culture we’re to

Harriss Currie

And respiratory, than Bill, comes and not of blood from total enteric half more VERIGENE our culture. revenue

Bill Quirk

you're relatively comments soon, of potential, the draft should finished, on And curious declaration reimbursement, to I Palmetto get say hearing. some sort a be then as the just you're that, change we where final lastly presumably should around should it's

Homi Shamir

that hear. don't We hear you anything don't

X, I to really go we anybody them a increase with in flex pricing go Luminex, couple to to a reason but decided will VERIGENE pricing, good the we is have they make, of the like X, obviously, decided would flex shortly, prices flex I why to not with and keep the because any there. if pricing they we launch not expect, going information the say, from it your to calls, hear to decisions mentioning whatever have as there we not they last is but VERIGENE else be don't our every or a flex assay If pricing. will be We

be good So from whatever the decision decision. a view, will of they will make, it our point

Operator

showing you. And I'm in queue. Thank no questions further the

Shamir hand over it's comments conference to now, back remarks. or to my pleasure for the Mr. So closing Homi any

Homi Shamir

great near Thank day. Brian you earnings our attendance today. your in the forward in seeing future. a you, call look We and Have thank on very person to you everyone for

Operator

our today's and Ladies conclude conference. and all for thank wonderful participation gentlemen, on a you Everybody, This disconnect. may you does have day. program your

Luminex (LMNX) 6 Aug 182018 Q2 Earnings call transcript