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Luminex Corporation

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Luminex’s fourth-quarter 2015 results were disappointing with modest revenue growth and contracting margins. However, we continue to believe that the company’s Assay business will be its key growth driver over the long term. We are also optimistic with regard to the company’s products – ARIES and NxTAG RPP, which represent a major revenue opportunity for Luminex. These products will considerably expand the company’s addressable market in the long run. However, we are concerned with the volatility that persists with respect to consumables revenues, which is under pressure primarily due to inventory management problems at Luminex’s largest customer.

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