Luminex Corporation (NASDAQ:LMNX), a developer and manufacturer of biological testing technologies and products, on Monday reported its financial results for Q3 2014. Non-GAAP net income was $0.27 per diluted share, up 350% from $0.06 per diluted share in Q3 2013. Capital IQ provided a Street estimate of $0.11 per share, but this may not be comparable. Consolidated revenue for the quarter was $56.7 million, up 12% from the $50.8 million reported from the same quarter last year and slightly above the $56.4 million Street estimate. Luminex Corporation (NASDAQ:LMNX) has revised its fully year 2014 revenue guidance to a range of $225 million to $228 million, shy of the $230 million Street estimate. Shares are trading near the high end of the 52-week range of $15.74 - $21.69.Twitter Inc (NYSE:TWTR) reported Q3 adjusted earnings of $0.01 per share, in line with the analyst consensus on Capital IQ. Revenue was $361 million, ahead of expectations of $351.5 million on Cap IQ. For Q3, the company said its monthly active users were 284 million at month end. For Q4, Twitter Inc (NYSE:TWTR) expects revenue of $440 to $450 million, vs. expectations of $448.8 million. For FY 2014, revenue is seen at $1.365 to $1.375 billion, vs. Street estimates of $1.363 billion.MicroStrategy Incorporated (NASDAQ:MSTR), the provider of software platforms for businesses, Q3 results beat the Street view. MSTR reported net loss for Q3 2014 was $0.8 million, or $0.07 per share on a diluted basis, as compared to net income for Q3 2013 of $17.1 million, or $1.52 per share on a diluted basis. Revenue was $151.2 million. The Street expected a loss of $0.26 per share on $147.2 million in revenue. MicroStrategy Incorporated (NASDAQ:MSTR) also said it initiated a restructuring plan during the quarter that will reduce its workforce by about 800 employees. The company expects that substantially all of the workforce reduction will be completed by December 31, 2014. The restructuring plan is expected to deliver annualized pre-tax savings of approximately $73.4 million and to result in pre-tax restructuring charges of approximately $18.4 million in the aggregate. In addition to the restructuring plan, it is implementing other internal cost-saving initiatives that it expects will deliver additional annualized pre-tax savings.The charges resulting from the restructuring primarily consist of severance and related benefit costs and lease and contract termination penalties. Implementation of this plan resulted in the company incurring pre-tax restructuring charges of $11.6 million in the third quarter of 2014, and the company expects to incur an additional $6.8 million in pre-tax restructuring charges in the fourth quarter of 2014. The company made cash payments of approximately $3.3 million in the third quarter of 2014 and expects that substantially all cash payments relating to the plan will be made in 2014. MSTR trades in a 52-week range of $98.47 to $158.53.
Discover Hidden Gems
Don't miss the next big opportunity. Subscribe for timely alerts on potential market movers.
